Build Your Future!
Have you ever considered buying a duplex, living in one side and renting out the other?
Build equity and enjoy monthly payments – your renter next door makes your mortgage payment for you.
In a few years you’ll move on and have your own investment property.
Sample Financing
Down payment for purchase – $4,900-$7,000
Closing costs – $1,340
Financed amount – $135,000
Type of loan – 30-year fixed mortgage
Interest Rate – 5 percent
Monthly payment loan amount – $725
Monthly Taxes/Insurance* – $200
Total payment – $925
Income and Qualification*
Rental income from second unit – $775-850
75 percent of rental income ($750) – $562.50
Monthly payment to qualify – $363
Monthly payment out of pocket – $175
*This is an example and individual qualifications may differ.
Sample Property
3 BR 2 BA Duplex, 1,250 square feet per side, one level, large rooms
West side, cul-de-sac