I think a lot of potential buyers with bad credit view the lease option as a pathway to home ownership. It rarely works that way as most lease options end up being just leases.
Keep in mind that if you do not qualify for a loan before your option term expires you will have spent a lot of extra money for a lease option on a home you will not be able to purchase. Since tenants typically don't have a home inspection or do a title search before entering a lease option, you may find the homes has issues you don't know about until later on. You can also find yourself making the option and rental payments on time each month only to find out the landlord/seller is in foreclosure.
Rent to own scams are common, so look at a lease option situation very carefully.... more
No, but it is a good idea to try and pay off debt before buying a home, as the mortgage payments can weigh you down at times.....The typical loan consists of 15 or 30 years. Most choose the latter because the monthly payments are much more attractive. But if you think about the probability of holding the same job ie.. Income for 30 years, 15 would be more practical, especially at today's rates.... more
Georgetown is a great small town with all the atvantages of big cities in that it is nestled in between Myrtle Beach and Charleston. There is a WalMart and a few other apparel and grocery stores in town, specialty stores located in nearby Pawleys island, but as far as malls and outlet shopping, the ones in Myrtle beach and Charleston are not far. The closest being less than 45 minutes away. Please let me know if I can be of assistance in finding you a home in this beautiful area I call home.... more