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3.5% Fixed Mortgage Townhome

I have the opportunity to purchase a townhome with 3.5% down and 3.5% 30-year fixed FHA in Phoenix, AZ.

This is a new build and builder promotion.

However, it is a townhome. 2b 2.5ba single garage. Purchase price of $370k at $2,260 mortgage all in.

I’m on the fence - my offer has been accepted and I’m preparing to put earnest money down. I understand with imminent rate drops that the home price will likely increase, however, I understand that in general town homes do not appreciate in value and are often preferred as rentals as long term investments.

My intention with the home is to keep it rent it later. Which is why the low interest rate was so attractive to me. It IS on the edge of town, near a reservation. But the rear of the house does have a Mountain View which is really nice.

I’m trying to work through whether purchasing this town home is a good idea or not. And I’m searching the internet for randoms to give their input!

Thank you SO MUCH

submitted by /u/Maleficent_Complex11
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1ev3ev1/35_fixed_mortgage_townhome/
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