Quote:
Originally Posted by mjensater
vacation home or an investment property? What is difference when it comes time to get a loan? Different rates? More needed for down payment?
Which is better for my situation?
As far as renting and maintenance, my father still lives in the area and is willing to monitor/maintain. If i do decide to sell later on down the road, I'm sure the family members that remain will not object.
Thanks!!!  |
How you intend to use the property could affect the interest rates and the downpayment . A mortgage specialist could explain and help you decide which would be better for you.
You have a nearby property manager that you trust and are comfortable with, you have no issue with family members resenting you getting the property , the numbers sound good, you sound like
you really want the property and you would be assisting your Grandmother in her goal
Go for it!