Tagged Questions

6
votes
1answer
117 views

What is a rule of thumb for accruing debt on a rental property?

My sister and I were fortunate enough to inherit 2 properties from my father, one a suite of apartments and cottages worth about ~$3M and also his home. We currently have about $200K in mortgage ...
3
votes
2answers
385 views

want to refinance FHA loan, may move out unexpectedly and would like to keep as investment property, what are my options?

I'm currently in my primary residence with an FHA loan. I'd like to refinance for a better rate (as I can likely get it down at least 1.5 percentage points or so). I also intend to ultimately use ...
7
votes
3answers
205 views

Emergency Fund Suggestions - Purchasing Second Home

My wife and I are looking to purchase a home in the near future. With this in mind I am curious about how we should now look at our emergency fund situation. The general guideline you will see is ...
4
votes
4answers
950 views

Will we have trouble getting a mortgage for our second home if we keep our first to rent out?

My wife and I are currently saving for a home. We currently own a small condo, which we would like to keep as a rental unit once we purchase the second home. Currently our home costs are under 12% ...
10
votes
2answers
199 views

Short-sell, or try to rent out?

I'm currently considering taking a job in another state, and I currently own a home that's up-side down in it's mortgage. I'm trying to figure out what I would do with my home in the event that I ...
4
votes
2answers
667 views

If I moved out of my house and rented it out, would I need to refinance into an investment loan?

I'm curious what I would need to do about my mortgage if I moved from my current house to a larger house in five or ten years. Would I need to refinance my residential mortgage into an investment ...