20% down - mortgage going to be hard to get?

[Pump]

so now that people have had a little time

with 20% down, will getting a mortgage be hard? or is that a big enough down payment that shouldn`t be an issue provided the building is cash flow positive. talking duplex upto 6 plex buildings

would like your thought

 

[Thomas Beyer]

QUOTE (Pump @ Feb 23 2010, 06:57 PM) so now that people have had a little time with 20% down, will getting a mortgage be hard? ..
not on the first one .. same as before.

yes with multiples .. as underwriting will be somewhat more rigorous with lower overall "allocated revenue" before debt servicing is considered !

 

[fumbrunner]

QUOTE (Pump @ Feb 23 2010, 06:57 PM)
so now that people have had a little time



with 20% down, will getting a mortgage be hard? or is that a big enough down payment that shouldn't be an issue provided the building is cash flow positive. talking duplex upto 6 plex buildings



would like your thought


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