Litwin Realty
  • Main
  • About
  • Contact
  • Sell
  • Buy
  • First Time Homebuyers
  • Blog

Purchasing Rental Property

2/1/2020

1 Comment

 
Are you interesting in purchasing rental property?  Did you know that the down payment financing requirements are different depending on which bank you use and whether you will be an owner occupied landlord? Banks usually require a twenty (20) to twenty five (25) percent down payment for non owner occupied properties and a minimum of five (5) percent of the purchase price as a down payment for rental properties an owner will also be occupying.  Some banks also require proof of "emergency funds" for a six month period.  This means the bank wants to know you have enough money to fund the property yourself in case you do not have any tenants or if something breaks that would require immediate repair in order to have continuous occupancy and rental income.  If you are considering purchasing a rental property in Western New York, be sure to call Litwin Realty to help guide you through planning your financing so you are ready to make an offer when the right property hits the market. 
1 Comment
Vacuum Cleaner Repair Utah link
2/10/2023 09:21:12 am

Grreat reading this

Reply



Leave a Reply.

    Ashley J. Litwin

    Licensed Real Estate Broker and Attorney

    Archives

    September 2021
    July 2020
    May 2020
    February 2020
    February 2017
    February 2016

    Categories

    All
    Experience Matters

    RSS Feed

Services

Home Purchase
Home Sale
Rentals

Company

About
Blog Posts
Menu

Support

Contact
FAQ
Terms of Use
Picture
© COPYRIGHT 2015. ALL RIGHTS RESERVED.