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Is 15% down a requirement for a second home?

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Q&A

:2

Is 15 % down a requirement for a second home or is that just the lenders requirement. This is for a condo in Bellingham, WA and I live in Olympia, WA.

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December 18 2008 - Bellingham

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Ash_Lee
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Ash_Lee

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Jacob and Amanda -

Please avoid solicitation/spam. Kindly refer to our Good Neighbor Policy.

Thank you.

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December 20 2008

AGCGartner
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AGCGartner

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Normally the more you put down, the less your morgage payment. In this case, it is best to have the most $ in your pocket for backup.
Call -443-540-6069 and get your finacing worked out. Amanda

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December 19 2008

Jacob Baklund, "Whatcom Realtor"
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Jacob Baklund, "Whatcom Realtor"

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Washington Bronco,

I spent almost 10 years in banking before getting my real estate license in 2003. If you're interested in buying a condo, I'd love to help. I've lived in Bellingham for 30+ years.

As for your question, the amount down is up to the lender, not the seller. Some lenders are conservative, while other lenders are liberal. The lender will look at the whole picture, including but not limited to: job time, credit score, equity in your current residence, etc.

Please let me know if you need anything. My phone number is 360-961-0796.

Jacob Baklund
www.jaybaklund.com

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December 19 2008

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Is 15% down a requirement for a second home?

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Question Second home purchase

Question Is 15 % down for a condo in Bellingham, WA a national law or is it just a mortgage company requireme

Question Is 15% down a requirement for a second home?

Related Articles about Buying Process

Guide Real Estate Buyer's Closing Costs

Guide List of Closing Costs and Fees

Guide You've Opened Escrow

Guide Home Buying One Step at a Time

Guide A Buyer's Guide to Making the Right Choice

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Question Second home purchase

Question Is 15 % down for a condo in Bellingham, WA a national law or is it just a mortgage company requireme

Question Is 15% down a requirement for a second home?

Related Articles about Buying Process

Guide Real Estate Buyer's Closing Costs

Guide List of Closing Costs and Fees

Guide You've Opened Escrow

Guide Home Buying One Step at a Time

Guide A Buyer's Guide to Making the Right Choice

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