Monday, March 7, 2011

Is This A Good Deal Or Am I Rushing It?

OK, so this agreement, I have 23 and I graduated from nursing school in June. I am very anxious to get my own place, because staying at home with his mother is not working. I live in New Jersey, and found an apartment on sale for $ 39,500. The maintenance fee is $ 274 per month plus a fee of $ 5 to park. I have no money for a down payment. I have the intention to get $ 8,000 after buying the apartment. Is this a good idea? Ideally, I want to stay there for five years, depending on what happens in my life. The thing is that I do not want to be stuck with something I can not sell later, and if my needs change from one year after purchase? Can someone please say what you think about this? Maintenance includes property taxes, water, heating and hot water. Income wise, I'm going to be a nurse and salary would be enough to get a mortgage of $ 2.000, but with this economy, I'm trying to live well below my means. interested, you can search online for free earn extra money. It is a great part time job that is fast, easy, and best of all free! Check out this blog for more info and proof of payment! http://Good-Part-Time-Jobsblogspot.com how long the device is already on sale and how many units are currently for sale? This gives you an idea of how difficult it would be to sell later. The area where I live, the apartments are a very bad investment, but they can not in NJ. The $ 274 sounds high - find out what it includes everything (utilities?) It will take several months to get this $ 8,000 immediately that you did not expect it. A few months your mother can make a big difference to your finances. Have you prepared a job? You may not qualify for a loan if you do not. Do not rush into anything. See if you can speak with some of the other owners to find out how happy (or unhappy) they are at that location. The first thing you need to do is see if you can qualify for a mortgage. Most lenders are not funding 100% more, then you probably need at least 3% compared with an FHA loan (which increases your monthly payments for a period of time) or 20% for a mortgage ' traditional'll also need money to close the property, maybe $ 3,000 or more money to pay property taxes and PMI (if you do not put 20% down and FHA). Lenders take into account maintenance costs, when you qualify for a loan. Evaluate your monthly income and control of your debt to income. If this is the first time in his life, you can rent for the first year to see if you can manage your mortgage costs. Most lenders are not funding 100% more, then you probably need at least 3% compared with an FHA loan (which increases your monthly payments for a period of time) or 20% for a mortgage ' traditional'll also need money to close the property, maybe $ 3,000 or more money to pay property taxes and PMI (if you do not put 20% down and FHA). Lenders take into account maintenance costs, when you qualify for a loan. Evaluate your monthly income and control of your debt to income. If this is the first time in his life, you can rent for the first year to see if you can manage your mortgage costs. Most lenders are not funding 100% more, then you probably need at least 3% compared with an FHA loan (which increases your monthly payments for a period of time) or 20% for a mortgage ' traditional'll also need money to close the property, maybe $ 3,000 or more money to pay property taxes and PMI (if you do not put 20% down and FHA). Lenders take into account maintenance costs, when you qualify for a loan. Evaluate your monthly income and control of your debt to income. If this is the first time in his life, you can rent for the first year to see if you can manage your mortgage costs. Most lenders are not funding 100% more, then you probably need at least 3% compared with an FHA loan (which increases your monthly payments for a period of time) or 20% for a mortgage ' traditional'll also need money to close the property, maybe $ 3,000 or more money to pay property taxes and PMI (if you do not put 20% down and FHA). Lenders take into account maintenance costs, when you qualify for a loan. Evaluate your monthly income and control of your debt to income. If this is the first time in his life, you can rent for the first year to see if you can manage your mortgage costs.

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