Can you include in the mortgage your rent ( from your apt.) for the year so that you can break your lease and purchase a home?
2007-10-23 06:03:43 · 6 answers · asked by Terri24 1 in Business & Finance ➔ Renting & Real Estate
Most probably not.
2007-10-23 06:07:22 · answer #1 · answered by acermill 7 · 0⤊ 0⤋
Nope, you can only include costs for the mortgage itself. That's only if you can find a seller willing to concede that amount as well. You can't get cash from a purchase to cover anything else unless there are several types of fraud going on.
2007-10-23 06:49:06 · answer #2 · answered by matzael 3 · 0⤊ 0⤋
You may be able to give notice and they will release you from your lease. You do not want to pay a year's worth of rent over the course of 30 years. If you're unable to sublease or get out of the contract, get a loan over a more realistic period of time...after you get your home. Don't get anymore debt, it will disrupt your ratio and eligibility to purchase.
2007-10-23 06:13:04 · answer #3 · answered by michims 2 · 0⤊ 0⤋
No-your mortgage is for the cost of the home. Try subleasing the apt if possible.
2007-10-23 06:08:05 · answer #4 · answered by VAgirl 5 · 1⤊ 0⤋
No. Try to convince your landlord to let you out of your lease.
2007-10-23 06:12:50 · answer #5 · answered by Kyle B 4 · 0⤊ 0⤋
No, the apartment complex you live in has no incentive to see you leave.
What's their incentive for you to go buy a house?
NONE!
2007-10-23 08:51:48 · answer #6 · answered by Terry S 5 · 0⤊ 0⤋