Go Back To Search Results Question Is it hard to get zero-down or 3 percent down mortgage loans now? I have good credit and stable job, and I just refinanced my current home at 4.65% fixed for 30 yrs and really lowered my payment. I'd like turn this current home into an investment property and then buy another home with zero or 3 percent down, 5 percent down, etc. Is it difficult at this time? By J. Posted on 07/29/09 Total Answers 4 Answers- I don't think that they even have zero % down mortgages anymore, although I may be wrong. I think that they are encouraging people to have at least 5% down. . Answer by : frofro32 On Date 2009-07-29 20:10:34 Its not impossible - find a "buyer's broker" to help you find the right deal. Answer by : dusty_titus On Date 2009-07-29 20:18:10 For a second home we were recenly told the banks want anywhere from 20-30 percent down sometimes more. if it were your residence and first home you could still do the FHA 3.5 down Answer by : Janice S On Date 2009-07-29 21:39:04 Due to the buy and bail guidelines it may be a little more difficult for you. When you own a home and want to convert it to a rental to buy a new primary residence you will need to qualify for the new loan carrying both mortgage payments without the proposed rent unless you have 25% equity in the rental property or you can document a history of receiving rental income with tax returns. In addition you will need around 6 moths reserves for each mortgage payment. Answer by : Noneya On Date 2009-07-30 06:45:32   Go Back To Search Results