Best places for first time home buyers in Philadelphia

[Michael Askew]

I am moving to Philadelphia and actively looking to purchase a home in the upcoming near future. My goal is to live in this home with the idea of making this a great rental 2-3 years later.

I would love to see some market appreciation but ultimately a cash flowing property is what I look for I the end. Does anyone have any suggestions for areas?

Also, I’ve heard that Philadelphia has a very high transfer tax and closing costs making upfront fees and down payments a bit expensive. Though I do have a low six figure income I don’t have a ton saved. Any advice on how to make sure I can get pre approved?

[Ebony Calloway]

I am about in the same situation, I have gotten different approvals. Make sure you have money saved, outside of the down payment and 2-4% transfer tax/closing costs. Also credit score is important as mentioned, though a good lender will look at the whole picture not just one number.