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All Forum Posts by: Michael Askew

Michael Askew has started 1 posts and replied 3 times.

Starting Out

Post: Best places for first time home buyers in Philadelphia

Michael AskewPosted
  • Philadelphia, PA
  • Posts 3
  • Votes 0

@Alan Blitz Thanks for the solid advice I’ll definitely do this!

0 Votes
Starting Out

Post: Best places for first time home buyers in Philadelphia

Michael AskewPosted
  • Philadelphia, PA
  • Posts 3
  • Votes 0

@Ebony Calloway I'm planning on doing 3.5% down through FHA. How much in addition would you say I should have in regards to the purchase price? I was told that I need 10% of the purchase price plus the down payment. I thought that that was a lot, but I'm from Missouri so I really have no clue about east coast prices or taxes.

0 Votes
Starting Out

Post: Best places for first time home buyers in Philadelphia

Michael AskewPosted
  • Philadelphia, PA
  • Posts 3
  • Votes 0

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?

0 Votes