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Rent vs Buy : Nationwide Real Estate Advice

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  • Home Buying254K
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Mon Jul 25, 2016
answered:
The people who lease option their homes are generally (almost always) upside down on their loan. So if they owe more than the home is worth and need to unload it, a lease option is what you do. A lease option must lock in the purchase price, and usually has a big non-refundable deposit. I have seen them work out, but only a few years down the line. Never allow a seller to give you a short term lease option and charge you a big deposit and higher rent than market. make sure you have at least 5 years to exerciser your option or you will get clobbered.
The way to find them is to look for people selling by owner, trying to avoid the realtor thinking the have a better chance of selling being upside down, that have been trying to sell for months.
Also you need to write into the contract that the payments be made to a third party who will make the mortgage payments and have an agreement to not further encumber the property and go down and have you lease option recorded.

But why are you doing all of this? Why pay too much for a house and take all the risk when I can most likely just finance a house for you?

Give me a call at 714-968-2500

License 287206
... more
0 votes 1 answer Share Flag
Firstcards, Home Buyer in Long Beach, CA
Sat Jul 23, 2016
Firstcards answered:
Saw this somewhere. Hope it helps. Anyone in here interested in RENT TO OWN HOUSES??.....Why

rent ...when you can own ??..Bad Credit Housing Programs, Down Payment Assistance Programs, get access to Rent to Own Home Houses In your City =>http://www.wefinanceit.infohttp://www.wefinanceit.info ... more
0 votes 10 answers Share Flag
Amandeepsingh, Home Buyer in West New York, NJ
Thu Jul 14, 2016
Amandeepsingh answered:
Hi
Im in US on an F2 Visa, i.e. dependant on student as my wife is studying here. I dont even have a social security number. My wife has one but she only has little income from working in college. I get income from abroad where i have a business running. I am very very keen on owning a home. Is there any way i can get a rent to own home where we pay $1500-2000 per month. A part of that goes towards rent and a part goes towards Down Payment of the house we are living in? Then at the end of 2 to 3 years, we get finance and ownership of the house. We need a 2 Bed 2 Bath house.Maybe even more so that we can rent a prt of it and stay in a part of it. Even if its in a bad condition, we can do the renovation,etc We want something close to west new york ... more
0 votes 6 answers Share Flag
Pamela.d.win…, Home Buyer in Wadsworth, OH
Sat Jul 9, 2016
Pamela.d.wingate asked:
We moved into our home in Feb. Paid $3500 that was to be used towards rent or lease to own option. Our landlord is now saying the lease underwriting company wants to evict us. I've…
0 votes 0 Answers Share Flag
Aaron LaMere, Real Estate Pro in Silver Spring, MD
Thu Jul 7, 2016
Aaron LaMere answered:
Are you still in need of help, if so please contact us as we specialize in rental tenants and buyers . We can also help you find an agent in NJ to sell your home.

Thanks

Aaron LaMere
Licensed Realtor
The LaMere Group
At DeLuca & Associates Real Estate
thelameregroup@gmail.com
http://www.thelameregroup.com
240-668-4179
... more
0 votes 1 answer Share Flag
Thestreet, Home Buyer in Washington, PA
Tue Jul 5, 2016
Thestreet answered:
The market in Washington County varies greatly depending on area and age. Feel free to contact us if we can be of assistance or check out the local newspaper, The Observer-Reporter! All best to you in your search. ... more
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UpNest Top R…, Real Estate Pro in Burlingame, CA
Fri Jun 17, 2016
UpNest Top Realtors answered:
We started UpNest (http://www.upnest.com) to help you compare top agents that compete to earn your business. Since agents compete for you, they offer their very best rates and services. You'll also get to "comparison shop" like you do for all the other things you usually pay for. It's free and there's no risk to try us out, Good luck! http://www.upnest.com ... more
0 votes 9 answers Share Flag
Sheryl Arndt, Real Estate Pro in Woodland Hills, CA
Wed Jun 8, 2016
Sheryl Arndt answered:
Hello AnnaWilson748, why rent to own if you can buy to own? Rent to own want 10-15% down payment that is non refundable. You may qualify to buy with minimum out of pocket expenses and pay less than rent.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down. You may consider a 3%-5% Sapphire Grant down payment program up to 417k from a minimum 620 fico score which does not have to be repaid.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

You will need to be pre-approved to be able to meet an agent to submit offers on homes of your choice. You will need to gather documentation such as one month paystubs, two month bank statements, last two year tax returns, 1040's, 1099's, W2's and all schedules, copies of drivers license/ID and social security card for each applicant.

The purchase in Hemet start from 69k for 2bd 2ba condo with that approximate payment. You may qualify to buy with minimum out of pocket expenses with the 3%-5% Sapphire Grant down payment assistance program.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve you can be emailed listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and consider. Here are some links to study about me as well as web reference links to many loan programs...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA or CalVet loan specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt
... more
1 vote 3 answers Share Flag
Herblady833, Home Buyer in New York, NY
Sun Jun 5, 2016
Herblady833 asked:
Single professional relocating for work, dog friendly necessary
0 votes 0 Answers Share Flag
Rhanny11, Renter in Richmond, CA
Fri Jun 3, 2016
Rhanny11 asked:
Zoll50, Home Buyer in Evansville, IN
Thu Jun 2, 2016
Zoll50 asked:
Is it just as good to rent a home or an apartment
Than owning one, when u are in 60's ?
0 votes 0 Answers Share Flag
Mayur Vibhak…, Real Estate Pro in Orlando, FL
Wed Jun 1, 2016
Mayur Vibhakar answered:
Hi!
Call or text me at 321-300-2622. I am a realtor in Orlando. I can help you with a rent to own home from a reputed company.
0 votes 2 answers Share Flag
Liguerre75, Home Buyer in Miami, FL
Mon May 30, 2016
Liguerre75 asked:
Elianecostel…, Home Buyer in Tampa, FL
Mon May 23, 2016
Elianecostello answered:
Hi Natalie, I have a town home in the best community 7 Oaks. I just love it.
Check this out on trulia 3816 Lakeside Way
0 votes 2 answers Share Flag
Andreacsikja…, Home Buyer in Brooklyn, NY
Sun May 22, 2016
Andreacsikja79 asked:
Im just Really need inform. How CAN i start BUy House
0 votes 0 Answers Share Flag
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