Hello fourtielove, your qualifications will be determined by your credit profile, debt to income ratios, fico scores and how much you want to invest into the down payment and closing costs. You would need 10% down to buy a second home or 20% down to buy an investment rental home. You can rent out a second vacation home under some circumstances.
The rental history of a vacation home will of course be determined by the location, type, size, number of bedrooms, furnished and amenities. The single family homes start from 158k for 2bd 1.5ba home in Palm Desert and up. Of course the location is important of which end of town so you will have to research that as I can not advise my opinion because of steering laws. You may want to study these crime links for crime statistics:
You should study RENT vs BUY listings so you can evaluate the rents in the areas of your interest as well as the home prices. If you figure out what cities/zip codes your considering, minimum number of bedrooms and the maximum payment/price your looking to achieve you can be set up to receive automatic daily emails to fit your search criteria.
It only takes a few dozen questions to qualify, go over your options and email you the RENT and Purchase listings to study and compare. Here are some links to study such as Which loan is right for me, Pre-approval in minutes.
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
20+ Years Experience
9am till 7pm Monday thru Saturday, Sundays by appt.
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
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Hi Anne, they have presented identical properties in same location, same conditions but future tenant refuses anything else. Agent did not mention it was equally for sale. Same agent handled both on our behalf , or better, mishandled it... more
Reasons why you should stay in a (MY)Â vacation rental instead of a hotel.Price. Price. Price.Palm Desert attracts travelers from various locations for various reasons. Some people want to get out of