Sentences with phrase «mortgage on a duplex»

For instance, in qualifying an applicant for an FHA mortgage on a duplex, the lender may not use the rental rate the borrower intends to charge, but instead, the amount of rent is can reasonably fetch according to an FHA approved appraiser's comparison of similar rentals in the area.

If you get a mortgage on a duplex, you are responsible for paying the mortgage.

Not exact matches

But they still had a mortgage on their Montreal home and on their Calgary rental property — a duplex the couple had bought four years earlier, before the advertising company that employed Margaret transferred her to Montreal.

They wanted to know if the proceeds from selling the duplex should be used to pay off the mortgage on their Montreal townhouse.

Buying a duplex, triplex, or quad isn't really overly complicated on the mortgage side.

«He recommends that we pay off the mortgage on our townhouse as much as possible with the proceeds from the duplex sale, but then borrow against the townhouse and buy solid investment vehicles,» says Margaret.

I had been buying foreclosed houses and was worried I was going to bump into the»10 mortgaged properties» limit when a few higher priced duplexes came on the market.

Interestingly, because of how high the cash flow is on the property, the amount that she DID pay covers the mortgage, escrow, insurance, property taxes and PM fee of 9 percent on the entire property... and since it's a duplex then what the other tenant pays is pure cash flow.