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Updated almost 10 years ago,

Robert Burns's profile image
Robert Burns's profile image
Robert Burns
  • Wholesaler
  • from Baton Rouge, Louisiana
  • Member since Jul 21, 2008
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User Stats

471
Posts
95
Votes
Robert Burns's profile image
Robert Burns's profile image
Robert Burns
  • Wholesaler
  • from Baton Rouge, Louisiana
  • Member since Jul 21, 2008
Connect
Robert Burns
  • Wholesaler
  • Baton Rouge, LA
95
Votes |
471
Posts
Real Estate Deal Analysis & Advice

FHA Loan Assumption for Purchase of Townhouse

Robert Burns
  • Wholesaler
  • Baton Rouge, LA
Posted

I'm working on a deal to purchase a well maintained 2 Bedroom, 1 1/2 Bath 2 story townhouse in an excellent location using an assumption of an existing FHA loan. Loan balance is $108,000 which is the Market Value of the townhouse. The monthly note is $667 including taxes and insurance. Rental rates for the area range from $950 - $1100/month.

Is this a good deal?

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