Home Buying in 45638>Question Details

calliedoo, Home Buyer in 45638

Home buying in Ohio

Asked by calliedoo, 45638 Sun Dec 9, 2012

I've found a house I would like to purchase but my credit rating isn't high enough. Do investors buy homes and do lease-to-purchase agreements until I get my credit high enough to secure my own financing. We have 4-5K for a down payment and can pay roughly 600-700 a month.

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To Home buying in Ohio
There are investor who purchase home for renting. However, they are pretty picking and expect a good return on their investment. The bigger the risk the bigger the expected return on investment.
If I can be of any assistance please feel free to give me a call. 304-529-6033
0 votes Thank Flag Link Fri Dec 14, 2012
Since the rent to own deals fall apart more often than go through (by a huge margin) it is pretty unheard of to find an investor to buy what you want and then take a huge risk renting it to you in hopes you can get a loan in a year to buy it. The investor will want a profit, you want a deal and so you are going to have a hard time making that work for you.
0 votes Thank Flag Link Sun Dec 9, 2012
I was thinking of a 2-year lease, that should be enough time to get our credit score high enough to qualify for our own mortgage. The house we found is around 75K.
Flag Sun Dec 9, 2012
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