Hello everyone. I already saw this property (condo) on sale for $125,000 and common charges $435.23. The condo however, is already tenant occupied paying $1150.00 rent/monthly which doesn't bother me at all. The bank is willing to offer me a mortgage of $100,000 and in addition, $8,000 grant for closing costs because is my first time buying. To be honest, I would rather have the condo rented out instead of living in it. Will I have problems with the bank free grant ($8,000) if I am not living in the condo as my primary residency? Can I tell them that I do not want to live in it at the moment but probably in two to three years?
2007-12-03
11:12:41
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2 answers
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asked by
D
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Renting & Real Estate