dash8driver
Foamy Specialist
- Joined
- Mar 25, 2002
- Posts
- 1,217
TDTURBO said:Otherwise, if you have decent credit above 650, you can get a 5% down loan and actually get money back at closing. Talk to a real estate freind or mortgage broker. You will be surprised how easy it is to get a house and rent it, all the while clearing 150+/mo.
you can even have a lower score than that and get a loan. you can get an 80/20 loan, which means you put no money down.. you only pay for closing costs and a lot of times you can get that rolled into your loan too.
get a good RE agent that can not only find you some houses, but can also find you good tenants while you're still closing on the house. find a good mortgage broker, especially if your score is lower. its another person you have to pay in the loan, but its well worth not having to go fishing around for the best loan and also to have someone that's going to finagle stuff for you.