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Updated over 12 years ago on . Most recent reply

User Stats

73
Posts
8
Votes
Jeremy M.
  • Missouri
8
Votes |
73
Posts

Financing question, which should i choose?

Jeremy M.
  • Missouri
Posted

This is just a general question i dnt have a specific house im looking out....I just graduated from college, have been studing this for a while, dnt have a good income have 700+ credit score all three, no debit but a student loan..just some info.
Plan: Buy a house getting a loan, then turn around and rent the house to make a small profit every month.
Question: What type of financing is the best for this situation? 10,15,30 fixed loan?or FHA, dnt no what that really is but ive read about it. Or is there a better option?
My idea is to get a 30 year fixed so that i have to pay only a low monthly payment every month to the bank. But then rent it for a good amount to make that cashflow. Good idea or is there a better way of doing this?

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