Speak with whomever is in charge of lending (usually a VP).Go meet your banker in your finest clothing (you're a business man, dress like one) and put together all your financial statements.

Yeah, I would never bet on 10% appreciation in this market.

I'd guess the P&I to be a bit under $600/month, so with insurance, taxes, and HOA charges, you're probably in for $900 or so a month.

(Try and stump everyone on this site I bet you can't) I have asked many questions some very stupid some that were good questions no one will judge you and you will always get an answer, many times from many different people with very different experiences.

I started at national chain, now at small local company because of the broker in charge.

No charge, and quick access.

I'm betting that it would be a HUGE loser as a rental, but we won't know until you post the gross rent.

The cleaning fee she charges me is an additional fee charged to the tenant when booking so it is not out of pocket.2) You can easily self manage if you have a person out there you trust as your cleaning/maintenance person. 3) I know it's only 10k a year profit - but in the long run it's paying for itself and in 10 years when I have it paid off, it's going to be 330k (more at that time) in equity - thats why I am doing it.

A bank takes an expense to add funds to its LLR, but when they charge-off the loan it just reduces the LLR without an income hit.

Second, how does one determine the price to charge for the option?