All Forum Posts by: Kenneth Adams

I guess it all depends on where you are and who you rent to. I wouldn't think that student rentals whould change much.

Recent grads are also having a harder and harder time finding employement, many of whom are piecing together part time, seasonal, and temporary work. Those situations should lead to renting instead of buying.

Interesting link

http://cohort11.americanobserver.net/latoyaegwuekwe/multimediafinal.html

Blake are you talking about condemed properties? Some cities has listings published on their website.

This is one from a town in my area.
http://www.cityblm.org/library/bs/pdfs/condemnedlist.pdf

The 3.5% is for an FHA loan. I'm not sure if you must use it as a down payment or if they just verify that you have 3.5%.

I bought a home using an RD loan, which is at 2%. I didn't put any money down, but my bank did verify that I did have 2% of the purchase price.

My appraisal was above the purchase price, so I was able to roll closing cost into the loan (you can go up to 102 or 103% LTV if I'm remembering correctly), and walk away with money at closing. Which helped pay for some improvements.

If it helps you out any, I just graduated from college a year ago and took an entry level job. I make 2200/mo gross with a debt of 280/mo (Car payment), good credit, and my pre-approval was for 80K.

Your first step should be to go to the bank and find out what your approved for, then re-evaluate your situation. I honestly couldn't afford what I was approved for, so don't use that as a magic number.

Good luck!