what are rents like in the area?

Asked by Gabe Stockton, 91362 Tue Jan 24, 2012

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Chasity Good…, Mortgage Broker Or Lender, Bakersfield, CA
Thu Jan 26, 2012
Hi Gabe,

When comparing two homes of similar size and ammenities, one for rent and one for sale, the rent is typically 15-35% higher than the payment would be on a 30 yr mortgage loan. This is based on an FHA loan with only 3.5% down.

Right now there are also several programs and incentives from sellers that can help you to purchase a home with less down than you would pay for rent + security deposit.

If you'd like more information on some of these loan programs feel free to call me. It's definitely worth looking into.

Best wishes,

Chasity Goodson
Loan Officer
Phone: 661-324-2525
0 votes
Darrel Mills, Agent, Bakersfield, CA
Tue Jan 24, 2012
This is not a direct answer to your question, but the others have already answered that. Have you thought about buying? It is sometimes cheaper.
0 votes
Jack Doremus, Agent, Bakersfield, CA
Tue Jan 24, 2012
Apartment or house. Depends on area, $650-1200, for a house $1000-1800. We have a property management in house... Call 661 735-1511 ask for Melvin
0 votes
Valerie Ulrey, Agent, Bakersfield, CA
Tue Jan 24, 2012
Rent rates are high these days because rentals are in high demand. I suggest calling a few property management comapnies to see what types of rentals they have available and how much they are asking for rent.
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