86 views
Austin Andruss
- 3 Answers
Locations:
Profile Link:
Austin Andruss answered:
Hi Jed,
We would have to forecast what Scott's documentable income will be over the next 1-2 years from now as well as his savings for down payment. Given a set purchase price, we will know how much income and assets he will have to show when he is eventually able to purchase the property out of the lease/option.
In other words, I can show Scott today what documentable income, assets and credit scores he will need to qualify for a purchase today. If he has the ability to get to these numbers in the next 1-2 years than the lease option makes sense. If they are unobtainable, the lease option is not really worth it.
Hope that helps.
We would have to forecast what Scott's documentable income will be over the next 1-2 years from now as well as his savings for down payment. Given a set purchase price, we will know how much income and assets he will have to show when he is eventually able to purchase the property out of the lease/option.
In other words, I can show Scott today what documentable income, assets and credit scores he will need to qualify for a purchase today. If he has the ability to get to these numbers in the next 1-2 years than the lease option makes sense. If they are unobtainable, the lease option is not really worth it.
Hope that helps.
|
MVPs or 'Most Valuable Players' are key Trulia Voices members who have been contributing high-quality content throughout 2008 and providing valuable advice to consumers and real estate professionals.
|
|
|
Founding members are a small number of participants who submitted content at launch of Trulia Voices to kick off community discussions.
|
|
|
Your question:
Max. 200 characters
Name:
Email:
|
|
Share profile
Contact Austin Andruss
Austin Andruss is a member of Trulia Voices:
Get the inside scoop on your area and home buying and selling.
Ask and answer questions about real estate.
Build your profile and contact home buyers, sellers and agents.
Report this profile
Become a Trulia Voices VIP!
Here’s how:
-
Contribute Often
It only takes 5 contributions per week to become a VIP! -
Strive for Quality
An answer earns you 4 points, but a Best Answer earns you 20 more. You know what to do! -
Share your Content
Blog views and comments earn you points as well. Find out how to make your posts popular on Trulia and take action!
Learn more about the Trulia Voices VIP Program.
|
|
|
|
|||||||||||
|
|
|
|
|
|
Copyright © 2009
Trulia, Inc. All rights reserved. |
Fair Housing and Equal Opportunity
Fair Housing and Equal Opportunity
Help us improve our service—send us feedback