Duplex Mortgage Information
Considering purchase a duplex and having
tenants help cover part of your mortgage
payment? You can find a variety of mortgage
lenders and brokers offering low mortgage
rates for duplex properties using the rate
survey at BurlingtonMortgage.biz. Please
note that the rates posted are for single
family homes but most, if not all, of the
companies represented offer financing for
2 unit properties. Simply reach out to the
individual providers to request current
rates for their duplex financing options.
Some
Potential Benefits of Owning a Duplex
1. Have renters help pay for part your
monthly housing related expenses.
2. If the home is your primary residence,
you may only need traditional home insurance
policy (vs. a commercial policy for a non-owner
occupied property). Ask your insurance provider
for details.
3. If you are purchasing the home as your
primary residence, you may be able to qualify
for a low or zero
mortgage program such as a FHA
loan or VA
mortgage.
There can obviously be some downside to
owning a duplex such as dealing with the
headaches that come with being a landlord.
If you are ready to take on the challenge,
your bank account may thank you later.
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