I would not bother with a rent to own/ lease purchase... it will usually distract you from focusing on resolving the issues that are preventing you from getting a mortgage, like fixing your credit, or paying down your credit balances, or saving money for a down payment, etc...
What you should do.....Save your money, pay your bills on time, work some overtime or get a part time job. Once you're able to get a mortgage, you'll have a MUCH better selection of homes to buy versus only those available for rent to own. There is no short cut. No one said it would be EASY.... but it's WORTH it.
Take a look at local school trends and community information here:
Hope this helps!
Perhaps, you should first meet with a local and trusted loan officer who can look at your credit and financials. It will depend on the length of your time off, you disability pay and when and if you are able to work again. There are many "ifs" so by meeting someone who can look at the whole picture, you can get a more realistic answer. good luck... more
Challenging. Most loans that are written must conform to the standards necessary to be resold, and the 30K threshold may be a factor in reducing the saleability of the loan. The costs of processing a loan for that amount may cause some banks to have less or no interest. Banks which hold their loans in their own portfolio, versus selling their loans, have greater flexibility in the approval process. That doesn't mean that a bank writing a portfolio loan will be interested, but at least they have the capability of determining their own criteria. Community and smaller banks sell some of their loans and often carry some loans on their books as portfolio loans, so that may be a better route to investigate.... more
If you are serious contact: https://www.facebook.com/pages/Consumer-Credit-Counseling-Service-of-Delaware-Valley/108861002480534?fref=ts
Work with them till you can qualify for financing then contact a Realtor to help you find a home.
I'm willing to help but only if you take the steps needed to convince a lender to lend you money to buy a home.
Good luck.... more
No it won't. It's got nothing to do with you. the one sure way to eliminate the uncertainty of a short sale is to NOT buy a short sale. there are plenty of nice homes out there.... I'd skip the short sales all toghether.
Joe Montenigro REMAX Home Team
Broker, GRI (856)374-2800 x106
Serving Gloucester Twp, Washington Twp & South Jersey Real Estate Markets
Search all Homes: http://hometeamNJ.com/search... more
Hi, Even with a large down payment, you'll still be asking a bank to loan you money. Traditionally, you'll need a credit score of at least 620. A couple of banks are giving loans with a score of 580 or above, but they are very difficult to get.
Call me for two lenders that may be able to help.
Here is a link to some rental listings available in that area. Let me know if you would like to schedule a showing of any of these properties.
Please feel free to call at any time if you have questions.
Barbara L Smith ABR GRI SFR
*5 Star Professional*
-Realtor Magazine Sept. 2012... more
I can give you the name of my lender that does USDA, but not here in this forum. Please send me an email and I will forward you his name. If you are not currently working with a Realtor, I would be happy to represent you, but if you are you should ask them about lenders they work with that participate in USDA programs.... more
I can actually do a radius search in the MLS. Send me an email with some more of your criteria, max budget, etc. Are you open to Pennsylvania?
Eric Axelson, Associate Broker
Kurfiss Sotheby's International Realty
Any Real Estate Agent is qualified to show and sell new construction. You can call or email me, I'd be happy to assist you.
(856) 981-8446... more
The only reason I see is that an FHA mortgage is for owner occupied property and they may be looking at this property as investment protntial. Meaning that the property is not just owner occupied with 2 additional units as rental income.... more
I recently just sold a new construction Townhome in Amberliegh Village. I negotiated price and amenities. If you need help please email or call me Suzdsells1@gmail.com or 856-981-8446. I would be happy to help or give you some advice. I had a great experience co-oping with Ryan homes and my Client is very excited for her new home to be built by August. In this market there is always room for negotiation! :) I look forward to hearing from you! :)... more
Mr. Thomas feel free to give me a call and I will be more than happy to give you several lenders in the area who can help you with getting a mortgage pre qualification.