Top Reasons for Buying a Duplex in San Diego as a First Home – Buying a Duplex with 3.5% Down Payment. You can buy a Duplex Home with as little as 3.5% down payment. As long as you are going to live in the home, you can apply for an FHA loan which is a great way of getting into the market. Yes, they do have MI (mortgage insurance)that you have to pay, but this is the cost of doing business.
Buying a Duplex to live in with an FHA mortgage – One of my favorite blogs to follow, Get Rich Slowly, recently published Reader Stories: I bought a duplex to save money on rent.The author of the post describes how he used an FHA mortgage to buy a duplex and with renting out the unit he was not living in, he wound up paying less for his housing than when he was renting.
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Is Buying a Duplex a Good Investment? – The Penny Hoarder – If you buy a duplex and live in one side, you have a home and rent coming in from the other side to help pay it.. Investment real estate also offers tax advantages. And what could be easier than managing a rental next door?. You’ve probably heard the arguments for buying a duplex instead of a single-family home.
Buying an Income Property: 5 Things Every Aspiring Landlord. – A couple shopping for a single-family home may see a duplex they like and talk themselves into it so that they have an office space or a place for aging parents. But the market for a fourplex, for instance, features almost exclusively a different type of buyer-an investor who doesn’t need to envision themselves making the building into a home.
Why buy a Duplex – Frontier Homepage Powered by Yahoo – But, does a duplex make sense as a first home? Yes it does. As an owner/occupant you can qualify for a mortgage using the easier homeowner qualifications. In many cases this means you can buy with as little as 5% or even zero down. As a first time home buyer, there are a number of programs that are available to you.
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Buying a Duplex to Live in and Rent Out – Discover – | Home Buyer Guidance. Buying a duplex or multi-family unit to use as both a residence and source of income is different from buying a single-family home or single unit. If you are considering this strategy, you need to know a few things. Pros and Cons. First, consider the practical aspects of buying a home with an attached rental unit.