Buying a rental property
| Listing Information | |||
|---|---|---|---|
| Amount: | $6,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 25% |
| Lender Rate: | 9% | Borrower: | HomesAndMore |
| Finished | State: | OH | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-08-30 | EricsCC ROI: | 7% |
| Status History | |
|---|---|
| Aug 29, 2007 | Current |
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Purpose of loan: I'll be using these funds to finish the inside of this home. It needs some basic updating to make it super sharp. I'm purchasing it now to rent. I have three people ready to look at it. The rent will cover the mortgage, this loan, and normal expenses. My financial situation: I've only had one late payment in the past 20 years. That one was while I was deployed, and didn't find out in time. Monthly net income: $ 16,000 This includes income from other rental properties. Monthly expenses: $ Housing: $ 1500 Insurance: $ 100 Car expenses: $ 300 Utilities: $ 200 Phone, cable, internet: $ 110 Food, entertainment: $ 700 Clothing, household expenses $ 150 Credit cards and other loans: $ 1500 Other expenses: $ 500 |
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