Tag Archives: much

why does property bubble make rent much lower then mortgage ?

normally mortgage would be less or about rent.

the thing in eastern europe is that rents did not increase (as income did not increase and people would not manage to rent) but property prices are up by 60% due to propery bubble (joingin EU) and easily available mortgages, a rent for studio flat is $400 and mortgage $550 plus taxes, insurance, maintenance, etc,

would u still buy a property assuming people say property prices will further increase by 30-40%, in coming years, knowing that rent will cover roughly only 50% of your mortgage and other expenses ?

For the last rental property your purchased, how much did it cost, and how much rent did you charge?

I’m looking to get rough rent/value ratios for various areas of the country.

I have found websites that display “average home price” and “average rent”, but that isn’t fair because most rentals are lower-end than purchases. I’m looking for an apples-to-apples comparison.

Please don’t include properties which you purchased significantly below market or invested a lot of money in improving.

–>Adam

P.S. I know I’ve asked this before, but judging from the responses, I asked it the wrong way.

How much interest rate would I get on my mortgage loan and how much would I pay monthly given my situation?

I am a 24yo med student in Chicago looking to buy a condominium. As a student, I have no steady income but do have around $30,000 available for a 10% downpayment. My credit score is 760. Can I get a mortgage with a reasonable interest rate given my credit score and lack of steady income and what would that rate be? I plan on purchasing a condo and renting it out for 2-3 years and using the rent to supplement monthly mortgage until I have a consistent income high enough for me to move-in myself. What steps must I take to fulfill my plan of first time home ownership?