Since there are other factors involved in determining mortgage qualification, for a personalized answer visit with any licensed loan officer, all else would really be just speculation; be aware that a mortgage pre approval letter is necessary to determine your price range and for any offers to be taken seriously.... more
It is easy to rent out year round if the house is up to code. There are rental permits issued by the town here to make sure the houses that are rented have functioning smoke detectors and other safety related issues are up to par. A lot of people have died in cottages in this area and the town has enacted the permit program to root out homes/cottages that are not safe. These rules do not apply to owner occupied homes.
An original certificate of occupancy has to be revoked for a home owner to not be able to live in a home. Rental permits are issued for homes that are rented out... And they know who they are...... more
It's possible, but not probably. Give a good lender a call and see what they can do. When you want to buy a home the best place to start is to hire an Exclusive Buyer Agent. EBAs only work with homebuyers and there is never a conflict of interest that will jeopardize your negotiating position. Visit www.naeba.org for a referral to an Exclusive Buyer's Agent in your area.
I've written a best selling book called Buying a Home: Don't Let Them Make a Monkey Out of You. It'll teach you how to buy a home without getting ripped off. Follow the link below.
Best of luck!
Definitely talk to the VA to see what they can do and renting it out might not be a bad option. I would think that the income from the rent would get you under the 40%. Find out if your state is a deficiency state. If it is, the bank may or may not come after you for the shortage - depends greatly on your income and assets.... more
Rent to own can be risky and one could stand to lose a bit of money, therefore inform yourself well beforehand, and do consult with an attorney who specializes in real estate; if you haven't done so yet, visit with any licensed loan officer, see if you can buy outright...... more
If you're looking for a home in Angola - lease with option to buy, I would consider that.... Google 886 Lake street angola, ny 14006 and if you like the pics and listing on trula get back to me at firstname.lastname@example.org... more
An average property would cost $100 - $150 per square foot for a newer home (home built within the last 20 years).... These homes will be energy efficient, have larger windows so one could easily escape in case of a fire, high efficiency windows, insulation, and furnace.... A quality home will have ceramic tile, hardwood flooring, and six panel doors, gas fireplace, whirlpool tub in bath.. These types of homes will sell for more and because they are efficient, will save you money in the long run when you get your utility bills..
Older homes that have not been upgraded will sell for less than $100 per square foot and generally will be converted cottages that do not have a basement
Lake front property is generally more, depending on the home's condition and if it has been upgraded... I would start from the base listed above and take each property on a case by case basis.... The closer to population, the more one is inclined to pay...... more