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Updated over 3 years ago on . Most recent reply

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Boying Tang
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What kind of mortgage should I get for an investment property?

Boying Tang
Posted

I'm planning on making an offer on a property and I'll probably sell it within 10 years.

Considering that, does that mean I shouldn't buy points to reduce the rate? In fact, would it be a good idea to go for a higher rate and get a rebate since I would only see the full effect of the rate increase/decrease if I were to hold the loan until all paid off?

How about only putting 5% down? My debt to income ratio on this property would be healthy even with the higher monthly payment. What would you do?

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