Common Mortgage Myths (Part 2)

Hey, everyone, this is Jules. And today we are going to talk about another mortgage myth.

Mortgage myth number two is that you need a 20% down payment to buy a second property.

That is not always the case.

If you're buying a second property for your family to live in, you can actually buy that home with as little as 5% down. The only time that you need a 20% down payment is if you're buying the property as a rental property, and you will be using rental income to qualify. That's when you need a 20% down payment.

But again, mortgage myth and home ownership is much more affordable than you think.

Give our team a call if you have any questions.