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I am looking to buy in Florida, 25%-50% loan possibilities?

I want to buy a property of around 150k, house or condo in Florida to rent out, I can pay cash but I would like to use some leverage. Can I get a 25 or 50% loan? payment will be about half the rental income so I can definitely pay it every month. I have a great credit score, and have another rental property with a mortgage of 235k in Califonia. My yearly income is 110k.
Any help will be appreciated.
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November 29 2012 - US
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Answers (2)

Most banks require roughly 20% down. With great credit history and continuous yearly income, you should have no problem finding a loan anywhere from 25 to 50 percent of the $150k house/condo.
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December 05 2012
Short answer: Almost all institutional financing will require 20% to 25% down.  We have a few seller financing options in other states, but all out Florida investment properties cash flow with only a 20% down-payment.

Feel free to contact me with any questions 

Continued success,

 

Marco Santarelli

Norada Real Estate Investments

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November 29 2012
 
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