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25% Down Payment!

I want to buy a vacation home. I was told by a potential lender that we need to put down 25% for a down payment. This seems pretty high. What do you all think is an appropriate percentage? Will I be able to find anything better? by RebeccaDwyer from Miami, Florida. May 19th 2010 Reply


Gregorio Denny (GVDenny)
#254 ranked lender in California - 380 contributions

It looks like you are in Florida so it may be a bit more difficult, I know it will be for a condo or attached PUD. You didn't say where you wanted to purchase so that will be an important factor. 90% financing for second homes is available but you will have to speak with an experienced loan officer, preferably located where you want to purchase to get more details. Gregorio Denny WeFixRates.Com

May 19th 2010
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Matt Elston (Matt.Elston)
#4 ranked lender in South Carolina - 50 contributions

In SC 2nd Home Financing up to 90% is no problem with excellent credit. Get your vacation home in the Palmetto State, and call AgSouth Mortgages for all your home financing needs. Matt Elston p. 803-324-1131

May 19th 2010
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