Reply To: Real Estate investors and President Trump

[Lance Thompson]

The latest as of Friday, February 3rd, 2017. As a rental property owner, what is your concern? Your concern is what will be the new down payment requirement to purchase a rental property. Prior to the Dodd-Frank Law you were allowed to make a down-payment for as low as 2% of the total purchase price………after Dodd-Frank was signed into law banks and loan institutions were mandated to require a 20% down payment from buyers for a rental property. It remained low for owner-occupied properties but that 20% down payment requirement for rental properties was devastating to the real estate market. Under the new law it is expected that the down payment mandate for banks will go from 20% back down to between 0 – 2%, WHICH IS EXACTLY WHAT YOU WANT. Pay attention to the news, keep your eye on what's happening, and stay in touch with your realtor to find out what the new down-payment requirement for rental properties is going to be…………….

 

http://www.usatoday.com/story/news/politics/2017/02/03/through-executive-orders-trump-takes-aim-financial-regulations/97431284/