What’s the lowest I can put down for a second home/mortgage? I plan on renting out my condo and buying a second home to live in. Can I finance it as a vacation/second home?

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Your new home would be considered your primary residence so I imagine you could have a down payment as low as 5% or so depending on the lender. Financing it as a vacation/second home would require close to 20% down

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Of course. Happy to chat

So you can, as long as your debt/income ratio supports it (under 50% but preferably under 40%) To treat the first as a rental property and have it count as an asset, you’d need 2 years of proven rental income on your tax returns. So since you don’t have that, keep the d/I under 40-43% and you should be good

If you can put 20% down you should be golden. That’s the threshold for investment properties usually. But if it’s your primary residence, finance it as that, you’ll get better rates than as a business

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