Question 1

How does the 28/36 rule work?

Accepted Answer

The 28/36 rule is a lending guideline: your housing costs should not exceed 28% of gross monthly income, and your total debt payments should not exceed 36%.

Question 2

What is a cap rate?

Accepted Answer

Capitalization rate is the ratio of a property's net operating income to its purchase price, expressed as a percentage. Higher cap rates indicate higher returns but often higher risk.

Question 3

Are closing costs negotiable?

Accepted Answer

Some closing costs are negotiable. You can shop around for title insurance, negotiate lender fees, and sometimes get the seller to cover a portion.

Question 4

What is a good rental yield?

Accepted Answer

A net rental yield above 6% is generally considered good. The 1% rule suggests monthly rent should be at least 1% of the property's purchase price.

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