DUPLEX property on MF zoned quarter acres of land. Great investment for income or multigenerational living in private apartment. GREAT potential for first time investor to live in one unit and rent out the other to cover your mortgage. FHA financing appears to be available (subject to verification / approval). You can also utilize local/state down payment and closing cost assistance programs. Owner is installing new cabinets, new flooring, new electrical panel, new paint, new bath fixtures, new plumbing fixtures for worry free rental property or your new home with income potential or family living next door. HUD FMR rents for Section 8 are per unit. Owner is general contractor and can customize or add additional units to make it two 3/2 units for additional cost.
Yes, as long as you meet the lender's credit (620+) and DTI requirements. FHA assumptions require you to use the home as your primary residence.
You need to cover the seller's equity of $244,663. If you don't have that in cash, we can help structure secondary financing to cover the gap.
No — FHA loans require owner-occupancy. If you're an investor, ask us about our VA inventory.
Typically 45 days. The lender underwriting is 2–3 weeks, and the rest is standard closing.
Cash covers the gap between the price and the existing loan balance. Changing this amount does not change the existing mortgage payment.
P&I is principal and interest. PITI also includes estimated taxes and insurance. HOA fees and payments on any additional financing are separate.
Asking price minus remaining loan balance. Closing costs are additional.
The equity gap is covered. Closing costs and assumption fees still need to be confirmed.