Mortgage Questions and Evaluation

[Robert Kruse]

Hello Bigger pockets!

This is my first blog post and I am glad to have found this awesome community of invested investors! So here is my dumb question of the day... Mortgage interest rates, the calculations that I have done show that a $200,000 mortgage with a 5% interest rate will hike the price up over $300,000 for the life of the loan. I am mainly interested in living in and then renting the property out after a year or two depending on the mortgage that I look at since the loan I am interested in (FHA) stipulates you have to live in for at least a year. Now with the total price of the mortgage what precautions should I take to make sure I will receive a good deal and not lose money when I turn around and sell the property down the line? I understand the extra costs associated with the mortgage and PMI. Any calculators that can help would be awesome! Also I am interested in BRRRR and would love to learn more about the strategy! I know this is a loaded question so please feel free to smack me on top of my head! Thanks everyone and I hope you all have a successfull and happy new year!