http://www.erandolph.com Observations and insights into real estate happenings along E. Randolph St. in downtown Chicago Tue, 31 Jan 2012 19:05:55 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 http://www.erandolph.com/mortgage-guideline-with-renters-to-owners-ratio/319 http://www.erandolph.com/mortgage-guideline-with-renters-to-owners-ratio/319#comments Tue, 06 Oct 2009 18:26:51 +0000 http://www.erandolph.com/?p=319 Just want to clear some important mortgage guideline of the condo buildings, the FHA/VA /conventional guideline is the renter to owner ration in the building is less than 50% for existing buildings and 30% for new construction buildings. And there are less than 15% of the owner is short on payment to the associations. So that means if you are buying as an investment, the renter to owner ratio is a little over 30%, you need to put in 25% and then you could be able to get a loan. For the ratio is over 50%, you have to have cash or you have to find a portfolio manager to borrow.

]]> http://www.erandolph.com/mortgage-guideline-with-renters-to-owners-ratio/319/feed 0 http://www.erandolph.com/just-reduced-new-construction-one-bedroom-for-rent-at-the-8-e-randolph-2107/309 http://www.erandolph.com/just-reduced-new-construction-one-bedroom-for-rent-at-the-8-e-randolph-2107/309#comments Fri, 25 Sep 2009 14:02:36 +0000 http://www.erandolph.com/?p=309 This is a large one bedroom unit with around 834 square feet with a large balcony, lots of closet spaces, price has dropped to $1,600 per month. Great location in a great building. Very easy access to the stores, shops, trains, restauratants and theaters. Great new kitchen, new bath, washer and dryer in the unit! Detailed pictures and MLS info will be available upon request!

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