Frank Fischer, Home Buyer in Langley Air Force Base...

Renting a home in FL and then purchasing another?

Asked by Frank Fischer, Langley Air Force Base, VA Mon Aug 3, 2009

what is the likelyhood that I can rent out my home in Land o Lakes FL for $1400 a month to cover my mortgage
and then buy another home with 3.5% down in Spring Hill FL?

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Answers

3
Thanks for the answers, we appreciate it.
0 votes Thank Flag Link Tue Aug 4, 2009
To answer the first part of your question, we would have to know more about the present home to know if you can rent it for $1400. Next, we would have to know more about your financial status. You can get more input from a mortgage provider on your ability to carry two mortgages. All in all your plan to rent the present home and buy another is a good one. for future estate planning.
0 votes Thank Flag Link Tue Aug 4, 2009
You would have to qualify for both mortgages till you have a rental history with one of them.
0 votes Thank Flag Link Mon Aug 3, 2009
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