This will show the bank how you intend to fund the mortgage with rental revenue.Be prepared to provide collateral and establish the needed down payment for the loan.

Ultimately, we need mortgage rates to move down to improve both affordability (lower monthly payments) and availability (‘freeing up’ previously ‘locked in’ sellers).Drilling down to the city levelThe inventory situation is very different from city to city, and that’s driving divergent pricing trends.

It had to be newer and completely reliable. 

He is asking for a 25k down payment and then a 5% interest with a loan for 7 years.

We all have a human side but at the same time, if they can't afford my terms and they have proved that they have already missed payments to other landlords, it's a super easy decision.

We would also provide the down payment and manage the property so that my sister could simply live in it for a year and pay rent until she decides to move.

The mortgage payment is going to hurt us without a tenant, so we really need to get this moving.

Leverage the 0% down payment, but be mindful of funding fees.

If you don't have the "dough" you don't have the "go".Based on what you are saying you will need 20% down payment for a rental + closing costs + operating reserves (in cash).Most people will not have this--some will do what they need to do to get it--some will not, some can not.A good first step might be to save up as much as you can for a year in a special savings account--by living frugally for 12 months.Then explore down payment assistance programs in your area for first time home buyers of a primary residence--if you qualify (and the home is in a good area for your 'Family" vs Gunshot Alley, then buy a home for yourself and your family.Getting on the track of being a homeowner will give you some additional strength, after a few years of ownership, re-asses your situation.Or work 2 jobs and save the 20% down, closing costs and operating capital you will need, but if you do that and your wife divorces you for it, then you will be in a worse situation than you are now.In the mean time, [1] read Rich Dad Poor Dad, and [2] have fun with your family doing things together (while you have the time), rent a boat for an afternoon, go on a pic-nick, hike in the woods, etc...

With this rates so high I’m not Looking for make Money out of it, more to pay it’ self. my down payment will be around 40% to make the number work.