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Marjorie, Renter in Cranston, RI

Is there an option to purchase home?

Asked by Marjorie, Cranston, RI Fri May 18, 2012

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yes, depends on what you can find.
0 votes Thank Flag Link Fri May 18, 2012
Hello. There are many options out there these days for home buyers; especially if it's your first home.

RI Housing allows incomes as high as $87,800 for 1 or 2 persons or $102,400 for more than 3 person households. Here is a contact person for a RI Housiing mortgage originator: Kathleen Squatrito

You can tell her that Christine McNally, Realtor from Century 21 Trend sent along the information.
Please feel free to call me if you are interested in purchasing a property. Thank and have a nice day.
0 votes Thank Flag Link Fri May 18, 2012

Are you a first time homebuyer or have not owned a home for at least five years? You may qualify as a first time homebuyer with an FHA loan where you can put down as little as 3.50%.

If you have any further questions feel free to call or e-mail me for assistance.

Best of luck,
-Michael O'Brien
Peluso Properties
0 votes Thank Flag Link Fri May 18, 2012
Sorry, there is no option to purchase this home. There are very few properties available with a rent to purchase option. Most homes, the sellers need their cash out in order to purchase something else, or if it's short sale, the banks will not allow a rent to purchase option.

Is there some reason why you would be unable to purchase now? Interest rates are at an all time low at 4% and even under. You don't need much cash to purchase. Closing cost can be rolled up into the sale and the seller can pay all your closing cost for you.

If you have not spoke to a lender or mortgage broker about financing, perhaps you should to see if you qualify for any low down payment programs or can obtain any grant programs.

Contact me if you would like to pursue a purchase.

Steve 401-595-3886. Check me out on my web site at
0 votes Thank Flag Link Fri May 18, 2012
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