You need to learn what lease option / rent to own is because if you don't have $10,000.+ to put down on a home, then you don't qualify to do lease option.
LEASE OPTION OR RENT TO OWN:
You will sign a contract with the owner/seller that has terms in favor of the seller - not you.
You will need a large upfront deposit (at least 20%).
You will be required to pay a monthly rent + a premium rent that goes towards the down payment and/or price of the home. Your monthly rent will be more than $2,350..
If you don't buy this house or don't qualify for a mortgage loan, you lose all the money you paid.
The owner/seller keeps all of your money (deposit, rent payments & premium rent payments). There are no refunds. It says so in the contract you will sign.
And you wrote that you don't want to pay rent anymore? My answer - too bad, so sad.... more
Go West my friend, go West.
Areas West of State Road 7 have homes on some land that will make you and your Greyhound doggies very happy. I would suggest you look in Royal Palm Beach and The Acerage, West Lake Worth.
I specialize in Pet Friendly Communities. If I can be of help please contact me.
Blue to Green Realty
Take a look at my link called Pet Friendly on my Website.... more
DO NOT BUY a GL HOME. All smoke and mirrors. They will say anything to get you to buy! Buyer Beware! Go somewhere else if you want to be happy in the end. Everything is an upgrade- everything and the basics are cheap and ugly. Their model homes are beautiful but you are not buying a model home. Do your homework!!... more
Yes a $14,000 buy in and $8,000 per year membership required per the MLS. Most listings that mention golf have memberships.
If you are looking you should use an agent who has access to the MLS and the full details of properties. Remember that as buyer seller pays your agent's commission (out of the sale proceeds) so it really cost you nothing to use an agent.
If you need assistance in Palm Beach please give us a call or email at 561-771-4457 or email@example.com and we can help find you a property without a membership requirement... more
We do stated down to 550 case by case on primary homes! 3.Alternative Documentation (“Alt-Doc Cash Flow”) for Non-Owner Occupied or Second Home properties and Business Loan requests.
The below information is a summary of the minimum Florida stated loan documentation requirements for each Income Documentation Program. For additional documentation requirements, refer to the Income Doc Charts in this section of the Guide.... more
Are you looking to rent a property or buy an investment property to rent? If buy then get pre-approved for a loan before doing anything to see how much you can afford. If looking to rent, then it will depend on the landlord as all have different standards they want. Some may take lower credit applicants and some may require a few months down to guarantee them in case of default.... more
>>FLORIDA MORTGAGE BROKER RESPONDING...
Yes, just need to make sure the payment from the HELOC for the down payment is calculated property and added into your DTI (debt to income) ratios
This is actually a good option, given the potential interest write off savings and if you have other retirement savings or savings you could then pay off other non tax deductible debt that could also help your DTI and the loan programs you could qualify for, etc.... more