As the COVID-19 pandemic continues to unfold, many industries have adapted to overcome the unique challenges presented by the virus. The real estate industry, in particular, has witnessed changes across the board; from how we view and purchase properties, to the standards for qualification set forth by mortgage lenders.
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So you were able to purchase your own home with five percent down (although the minimum down payment required changes depending on the purchase price of your property). As a real estate investor, how much you will need as a down payment for your investment property is dependent on whether the property will be owner-occupied or not.
Although qualifying for a mortgage as an investor involves many of the same basic considerations as if you were purchasing the home for yourself, you may find that there is limited information online specific to purchasing a rental or investment property.