All Forum Posts by: Jordan Yefriadi

In Maryland the county I live in offer Workforce Housing program. Property in metropolitan area for the somewhat low income (income<$102k=qualified). The kickers are: its sold at discounted price, and remains the same for 20yrs. Refinance is allowed but not more than the controlled resale price established by the county. If its sold within 20yrs it has to be sold for no more than the established price by the county. The property can not be rented out, owner must occupy. Also there will be asset limitation: one can not have asset exceeding 75% of the amount of loan (i think this means one cant buy more properties).

Does this sound like a good deal for first time home buyer?

@Michael Lewis Lee thank you for your input. I am looking to utilize first time home buyers program. The property price is at $468,000 (4bd rm, 2.5 bth rm). The total cash flow from rent is about $2,680. The loan expenses is est to be $2,514. When you mentioned maintenance, I didn’t factor that in. Which got me thinking I should do comparison study on cheaper property, with better cashflow.

I’m planning to purchase 4bd rm townhouse, I will stay in the unit and rent out the 3 bd rm.

Which of the following loan should I take

30 Year Fixed

5.125% APR

5.125% at 0.000 point

$2,037/mo

$0 fees

30 Year Fixed

4.711% APR

4.625% at 1.000 point

$1,924/mo

$3,740 fees

30 Year Fixed

4.417% APR

4.250% at 2.000 point

$1,840/mo

$7,480 fees

Help,

Jordan