All Forum Posts by: Ron Grose

Thanks for the input. I’ll have to find out where the LTV ratio needs to be in order not to escrow and make a decision from there.

I am under contract for my first rental property, a duplex.   I was referred to lender by agent.  We worked out a rate, about a point higher than advertised rates since this is a rental, 25% down.   I'm told that is typical on investment property.  When I received the contract today I was surprised that the property taxes are in escrow.  I prefer to pay the taxes when due (Jan/July) Vs escrow.  Questions are is the information accurate about the rate being higher on investment property and will lenders always require property taxes be put in escrow on investment property?

I am looking to purchase my first property. Area I am looking at is mostly doubles. Median price is appx 150k. This town is split above and below median depending on location and of course condition. My thought is that purchasing a higher end property should lead to more consistent occupancy and less eviction issues. With your experience, have you found this to be true? Is there a significant difference that would generally make it worth the additional cost of the property?