Long story short it is likely that in the next 12 months a relative will need to be moved from several states away to live near me. The problem is that I will need to find them a place to live, and likely provide most of the funds for it. I have been thinking about renting an apartment for her but lately have been wondering if, as I will have to pay for it and the situation is likely to last for 10-20 more years, it might make better sense for me to purchase a small property for her to live. I am trying to find out what lenders typically require with regards to down payment and interest rate so that I can do some quick calculations on expected costs and price range. But I can only find info for that for primary residences.Also, will it matter to the lender that this is essentially a rental/investment not a vacation home?Any help/advice is appreciated.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra