Down payment requirements for second homewe are underwater on our current home. We would like to purchase a new home and keep the old home for rental, we know we can't use the rental income to help qualify for the new purchase. Keeping the old home and adding the new mortgage payment our Debt to income will be between 25 - 30%. Credit is somewhere between 685-715. I have been told that I would need at least 20% down for the new house. Is this accurate? Without equity in the old house, that is a difficult number to attain.September 04 2012 - Minneapolis00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.