This is a great question. It can be a terribel idea, especially when planning to sell anytime in the future. On another note, once there are too many renters, the likelihood of a buyer being able to buy goes down tremendously, as most will be seeking FHA financing, and FHA will not back a loan ona complex that is more than 51% occupied by renters. If you plan to hold the investment and earn money on your rental froma tenant, then it could be ok. If you need help or have anymore questions, please feel free to contact me. Thanks
Axis Realty Group/Apartment Hunters
That is a great question for a qualified lender. Michael Kidd with Frontier Mortgages has helped many of my clients. If you give him a call I am sure he will easly answer your question. His number is 210-530-1246 or 210-789-5433. You can also check out his website at frontiermortgages.com.
Vince Arnall... more
This is a good question. Most lenders that I am aware of will not do a mortgage for that low of an amount. Your best bet is to get with a knowledgeable lender that can tell you who to go to. It may be that you need to take out some type of signature loan on that small of an amount.
Good luck with the sale of your home and subsequent purchase!
While I don't work in your area as a real estate broker, I invest throughout Texas and I have a home in 78249 that is about 2 weeks away from a top to bottom rehab (lighting, plumbing, granite, flooring, appliances, fencing, etc.). It's a 3/2/2 with massive bedrooms, 2 living areas and 2 dining areas, and no neighbors to the rear of home...just open space. If you would like more info, please email, text or call me at your convenience. I can also introduce you to a fantastic mortgage banker who helps me with both my personal and professional purchases.
Guy E. Gimenez
Senior Managing Partner / Broker
Depends on the lender really. Mine can get you closed within 30 days. Some take 30-45, others 60. I prefer to stick with the answer of average of 30 days. Unless USDA, then 45-60.
Call me if you ave more questions or would like to discuss it further. I'll be happy to help!
Reba Gandara, Realtor
Keller Williams City View
Absolutely! I recommend you contact loan officer Dan Camacho of Gold Financial @ Cell 210-393-4689. No need to walk into the office to answer your question. He will be able to explain my enthusiasm of hope.
Prosperity Realtors & Consulting
San Antonio, Texas 78216
Second, I need to connect you to a lender that works VA loans. They can be sure you are all set with your certification and pre-qualify you so we know exactly what price range is best for you and your family's needs.
Finally, I will help you find the area that best suits your lifestyle. I have worked with several Veterans and I have a client presently who is a retired Navy Vet.
It would be an honor to be of service to you.
Please contact me at your convenience.
I am from California myself from Orange County in the South. If I can learn more of your favorite activities I can be of much better help. There is a great many things to do in both cities. I live in San Antonio myself and I thoroughly enjoy it.
Near both cities there is golf, camping, wineries, hiking trails, fishing, river activities. San Antonio has amusement parks, Austin has NASCAR. This list will go on and on and on.
Please contact me directly so I can learn more about what you are looking for specifically so I can guide you in the best direction.
I am here to help
Keller Williams Realty
I would be happy to show you the house however I would need to know if you have been pre-approved for a loan. It also states on the MLS that the terms are cash or an investor which normally means the house would not qualify for a FHA or VA loan due to the current condition, so Conventional would probably be your financing option.... more