That's one way to handle an overpriced property. But why would you want to overpay for a property?
A larger down payment on any property gives more assurance of the mortgage commitment going through.... more
There should be.
But interest rates have never been this
Low and housing prices are 8-10
Years ago prices
Very good environment for the first time home buyer.
Call me@516-323-6245... more
This is a complex question that only you can answer after reviewing your personal financial situation. I suggest you take a day of deep thought and make the decision for yourself. Good luck... more
Save your money, Harvey. $4000 is barely key money. You're not going to find a rent-to-own for over $40,000 and the rent will be 25% higher than market. Contract for deed, max sales price will be $20,000 and you'll be paying an interest rate that is nearly usurious.
Save up, make sure your credit is good, then buy.
All the best,... more