The location I want to get a house in, doesn't have many units for rent, and the ones that are available are way overpriced. Since WorldCom moved their corporate headquarters to Clinton, MS, the property value has risen a little, but rent has gone through the roof. I've tried calling some places in the paper but no one answers the phone at the listed numbers.

The rent is $1000/month and up, and I can go just a few miles away and rent a house for around $700, but I want to move to Clinton because its still in the big city and on the side closest to where my parents and friends are.

I'm going to talk to a realator soon. There is a mortgage I can try and get for first time home buyers that doesn't have PMI so I can get a low interest rate. They will lend you up to $100K for a house. The cost of living here is lower, so $100K buys a pretty decent house. I'm looking for 3 bedroom, 2 bath with a garage. A pretty normal house, nothing fancy. I have two roomate who I would be renting two of the bedrooms to, and I would take the master bedroom.

Wish me luck. If I don't find a house to rent buy the time my lease is up in a month, I guess I'll be buying a house in Clinton, MS.

 

scary.. soon as i can afford to i'll probably have to do the same. reason being its impossible to find a house for rent around here too and i need a yard because i want a dog. another big dog like a wiemaraner.. and it would be cruel to leave it in my apt all day.. not to mention the damage bill.

but on the bright side if property values are going up.. you might pull a profit when you sell.

 

If you are depending on the roommmates' rent as a source of income to qualify you for the mortgage, be prepared for a fight. Generally, they want you to have the income to support that house all by yourself or with someone else on the deed. I was going to do that when I was in college, but they shot me down pretty well...

 

[QUOTE]Originally posted by Sondra S2K
[B]If you are depending on the roommmates' rent as a source of income to qualify you for the mortgage, be prepared for a fight.

 

It's actually pretty easy to get married....
However, it may be a bit challanging staying married.

 

Some may say that is may be a bit challenging to get out of a marriage. . .seeing that the wife may have the husband by the cajones financially.

 

[QUOTE]Originally posted by Squeezer
[B].. but I want to move to Clinton because its still in the big city and

 

San Francisco big? I love SF, but I don't consider it in the league with Chicago/New York. I place Atlanta ahead of SF as far as big goes....