If my mortgage is less than 1/3 of my monthly income, will I get approved for a mortgage for an investment property in under a year? Is it true that I will have to absolutely put down 20%, even if the property will be income producing?

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Nope, your first investment can be financed under a 2nd home mortgage. 10% down

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Got it thank you

you will probably be asked to put down more than 20%. typically 15% - 25%.

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