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I couldn't figure out how to bold to highlight the quotes from the replies, so I've just put everything in this one post. Thanks again everyone for your time and knowledge.


I've gotten several loans from and They are the first places I'd check, unless you have special financial circumstances.

See also

Looking at those sites thanks.


Thanks for the in depth response, loads of great info.

I can do another VA loan, but I'm not sure if they offer 5 yr arms with it. I'm looking into it now per your advice. Do you have a link to that info explaining the benefits of a 5yr ARM, I understand how it's cheaper now but not in the long term.

We aren't oppose to being landlords, and this has been our plan for awhile.

It'll be about $3-4k extra added to the loan without the 5% down payment, so we will mostly likely do that instead of putting that money into points I think.

I've just started shopping around to find the lender with the best rates for me in lieu of a mortgage broker. We're filling out loads of paperwork now.

Thanks again


We thought a bit about the capital gains but it looks like renting it out long term will make us more. The home value has only increased (from zillow) 30k, so correct me if i'm wrong but the capital gains exemption would save us from the %15 we'd have to pay on 30K, or 4.5k, in taxes. We should be able to pay down our mortgage at least 12k a year by keeping a renter in the house.

We thought about base downsizing as well, but the likely hood of Little Rock AFB downsizing more than they have recently, is small. Also, we bought in an area that serves downtown LR as well, so we don't have to rely on base as much.

Great idea on the Florida home insurance, I'll be calling up the insurance company next week to ask about that, thanks for the tips.


We lucked out and rental prices in our area run about 30% higher than mortgage costs, this will let us keep that extra money in a maintenance fund each month.

We understand the weaknesses associated with long distance land lording but have tried to mitigate them with making the home more maintenance free and choosing a good property manager that will take care of the place. It's a risk but we at least know that. Thanks again for all inputs and the time you took.


We are banking on finding those exact people to rent to.

I guess you had another bad experience as a landlord too, since you got out of it.

Why is there so much distaste for renting out property here? It seems like it could be lucrative.
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