What is the most appropriate home loan for an investment property, 10% down payment, sale price of < 100k? TY.?
November 17th, 2010 | by admin |
For an investment property? 100% down is the most appropriate, especially for a property that inexpensive.
Remember that at 5% on $90k, in the first 5 years of your loan, you’ll be paying around $28,000 in interest. Over the life of a 30 year loan, you’ll be paying over $107,000 in interest. That really drags down your ROI.
2 Responses to “What is the most appropriate home loan for an investment property, 10% down payment, sale price of < 100k? TY.?”
By Simpson G on Nov 18, 2010 | Reply
For an investment property? 100% down is the most appropriate, especially for a property that inexpensive.
Remember that at 5% on $90k, in the first 5 years of your loan, you’ll be paying around $28,000 in interest. Over the life of a 30 year loan, you’ll be paying over $107,000 in interest. That really drags down your ROI.
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By Iffy on Nov 18, 2010 | Reply
Investment property means a commercial Mortgage and that mandates 20% down.
Do some research before investing 1 cent
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