All Forum Posts by: Olivia Williams

The owner said he will do 6.5% interest rate @Harjeet Bhatti, I don't know where you got the 6.875% from. The reason is that we are starting out with a credit score of 650, and a conventional loan can be harder for us to get at a low interest rate.

Thanks Kerry.

They used to have a person renting there at only $1050 per month, but using an online rent calculator, the average is $1450 at a max of $1600-1700. The only way i see this making us money is if we refi it to 30 years and pay less monthly. But I'm new so I could be wrong.

I am a first time home buyer, and want to make it a business for me and my partner.

We are looking at a seller financed home in a good neighborhood in Keller, Fort worth. The owner has a few properties and this is his first seller financing deal. He is asking $160.000 for a 3 bed, 2.5 bath and double door garage. Original purchase price was $85.000 20 years ago, put $27.000 into remodeling and $50.000 into maintenance over the years. All in all his cap cain is about zero.

The house is in good shape and has a new 50 year impact resistant roof with certificate. New AC unit as well as new stairs.

Now! The numbers the seller wants is $160K at 6.5 APR and $32K down (20%) over 15 Years. The closing cost is estimated at $2K. This would give a PITI of $1500 per month as the taxes are currently $3500 annually and insurance is $800.

My question is: will this deal be better than just using a conventional loan through a bank? We have a credit rating at around 650 due to being new and not building credit. We have the option of either an FHA, conventional or VA. But we want to save FHA and VA for something bigger.

I have been reading more about it and the general opinion is the same as yours. My realtor negotiated for the seller to pay for the warranty. So, I am not financially set back on it. I noticed that you are a property manager from my home town. I will be in the market for one very soon. Please, send more info about yours in private message.

A home warranty is different from home insurance. A home warranty pretty much takes care of any major problems that may come up with the electrical, the appliances that are in the home, the plumbing, etc... after you buy the house.  Depending on which plan you get, there are different things that can be fixed. The home warranty can be negotiated in the price of the home when you send in an offer.

Thanks, there is quite a few different choices.

Does any one know a good and affordable Home Warranty Company in Fort Worth, Tx?

Thank you, I will check him out.

Does any know a good FHA lender in the Fort Worth/Dallas area?

Thanks for the advice, I really appreciate.