“Subject To” / Take over mortgage payments
– Down Payment: 30k
– Principal, Interest, Taxes, Insurance (PITI): $1493/mo
– Rent Rate: $1800/mo
– Current loan balance: $195,000 for 29 more years
– FHA loan 5% fixed rate
– No HOA
– Estimated Cashflow: $307/Mo
Buyer to purchase the property subject to the existing mortgage and take over the mortgage payments. No need to qualify!
This block single family had a section 8 tenant who was moving on November 1st. The property passed a section 8 inspection 1 year ago and was completely renovated with stainless steel appliances, granite countertops, tiles throughout, new roof, new AC and a full interior and exterior renovation and will need a small update to the bathrooms. Property will be delivered vacant. Clear title. See more pictures for more information.
Down Payment 30k | Rent Rate $1,800/Mo