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  • Writer's picturePhil Evans

Lori's Mortgage Minute - V.3

Have you considered purchasing an investment property for retirement or for the next generation of your family? Now is a great time to start building wealth in real estate! The biggest question I get from potential investors is "How much money do I need to put down?" and "Where am I going to get the money from if I don't have cash?" Let's look at your options!

A conventional financing loan will allow you to purchase an investment property that is 1 unit with only a 15% down payment. A 2-4 unit investment property requires a 25% down payment. Many real estate investors prefer a 2-4 unit investment property because there can be more rental income potential and less risk if one tenant vacates.

The down payment can be sourced from several accounts such as: checking, savings, 401K, stocks, bonds, or a Certificate of Deposit. Another down payment option to explore is leveraging your owner occupied home’s equity. You can either refinance your home to pull cash out or open a Home Equity Line of Credit to use towards the down payment of your new investment property. Credit score typically needs to be 640 -680 or higher, depending on the type of property.

If you would like to explore any of these options I'd be happy to meet with you virtually (always FREE to just talk options, run credit, even apply for loans) or over the phone.

Interest rates have never been better for investing or refinancing!

Give me a call if I can answer any questions for you or your family members. Lori Means 503-577-5998 or email me at

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