Posted by DJones on March 17, 1999 at 21:41:11:
You would be able to finance the property by then. With
a little going toward the principal each month and inflation, it should be a piece of cake.
Example: $100,000 home
$3,000 up front
$6,000 paid… 60 pmts w/$100 month to principal
3% inflation for 5 years is around $16,000 up in value with no improvements!
$116,000 value x 80% mortgage = $92,800 new loan.
This should cover some of the closing costs as well.
DJones in Tampa