OfflineI am eager to purchase a property in which my wife and I will move into, live in for at least 2 years for capital gains purposes (or lack thereof), possibly move out of after those two years, and rent it out for approx 3-4 years or until such time that the ppty market recovers and sell for a profit.
Based on such factors, what type of mortgage would be most suitable?
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Sounds like an FHA loan would be good. It will probably have the lowest down payment requirement, and will lock in the rate for as long as you own it. They also have programs that allow you to finance your repairs.
Al
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Al, much appreciated!
What price range are you looking at? There still a lot of products out there. If you are SURE you would sell within 5 or 7 years. You could get a fixed for 5 or a fixed for 7.
But to be honest...it's kind of hard to go wrong with a 30 year fixed loan. And interest rates are VERY attractive right now.