Rentals in Treebrooke area
I am frequently asked about rentals in this area. As of today, there are 7 properties for rent. The cheapest is $1,350/mo for 1 bedroom 1 full+1half in Trevor House and the most expensive is $1,800 for a townhouse with 3 bedrooms and 2 full +2 half baths in Arrowood.
Yes, it makes sense to rent and save some money before you start looking for a property to purchase if you do not have enough cash to go to settlement. These days you should have at least 3.5% for downpayment. And in case of a foreclosure, the seller (bank) most likely will refuse to give you subsidy for closing costs. If you only have 3.5% for downpayment and the property needs to be fixed, an FHA appraiser will most likely refuse to appraise it until it is fixed...So, my advice is - wait and save if you do not have sufficient funds to close the deal. Good luck!
Yes, it makes sense to rent and save some money before you start looking for a property to purchase if you do not have enough cash to go to settlement. These days you should have at least 3.5% for downpayment. And in case of a foreclosure, the seller (bank) most likely will refuse to give you subsidy for closing costs. If you only have 3.5% for downpayment and the property needs to be fixed, an FHA appraiser will most likely refuse to appraise it until it is fixed...So, my advice is - wait and save if you do not have sufficient funds to close the deal. Good luck!
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