Buying first home with a HFA loan
Hello! everyone my name is Romaury
I am trying to get into real estate and I am trying to buy my first home and I came across this one right here I got some details so you can have a idea, I will buy it with a HFA loan as some of you know you only put a 3.5% down so the house it’s actually two buildings with two unit with a total of 4 units
Building 1
Unit -1: 3 bedroom 1 kitchen 1 bathroom
Renting for -1,250$
Unit -2: 2 bedroom 1 kitchen 1 bathroom
Renting for 950$
Building 2
Unit -3: 1 bedroom 1 kitchen 1 bathroom
Renting for 1,100
Unit -4: 4 bedroom 1 kitchen 2 bathroom
Currently empty I will move there with a roommate which will be paying about 800$
Total rent of 4,100$
Price - 525,000$
Down p - 18,375$
Loan - 506,625$
Monthly payment I’m not 100% sure yet but it will be around 2800 to 3200 I believe it’s my first home I don’t know too much if someone have better idea on how much it’s going to end up, please let me know I live on ((( North East )))) Massachusetts — I am just doing a simple math what are you guys think
Of what I’m seeing right here it looks like I will have some cash flow, maybe I’m completely wrong or maybe not that’s why I’m over here asking for a second opinion