Wait and get to 20%. An investment purchase is a numbers decision, and the numbers are better without mortgage insurance. You could technically buy sooner. Fannie Mae and Freddie Mac allow 15% down on a single-family investment property. But skipping the last 5% is expensive: a lower down payment brings mortgage insurance plus pricing premiums, and both work directly against cash flow, which is the whole point of the deal. A primary residence carries a personal, lifestyle reason to move sooner. An investment property has to stand on its own math. Take the emotion out and let the deal decide: - If the property pencils at 20% down when you get there, whether you are buying for cash flow or long-term appreciation, proceed. - If it does not pencil, the extra six months of saving cost you nothing, and you keep looking. The disciplined call is almost always the extra few months. That said, if you find a deal so strong it pencils even with the added costs of 15% down, that is your informed choice to make.