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Ashland : Real Estate Advice

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  • Home Buying2
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Activity 3
Wed Jan 18, 2017
answered:
Hi Kmknipp,

I can do FHA and VA loans down to a 580 score BUT your score is only one small factor is getting approved for a mortgage.

You may have the required credit score but still not qualify because of issues with your credit history.

Take a look at the recommendations from some of my past clients on my Trulia profile by clicking the link below my phone number.

Please feel free to contact me for more information or help.

John Burke
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
jburke@gpbankTX.net
Apply Online: https://secure.smartapp1003.com/102471/?loanofficerid=106115
(877)228-9069
NMLS# 787231
http://www.trulia.com/mortgage-lender-profile/MTG%20Banker/#reviews
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Sun Nov 21, 2010
Steve Strawn answered:
The short answer is there are almost always a few sellers willing to consider a lease purchase. Generally they are dealing with a property that is challenging to market for one reason or another. Therefore the selection for potential buyers is somewhat limited and often not the most desireable properties although there are occasionally exceptions. Many buyers believe much or most of their "rent" will apply toward the purchase. That is not normally the case. In fact to receive any credit toward the purchase a buyer will usually need to pay an amount above the normal rental market rate for a similar property. It is also often customary for a seller to require a significant down payment as a non-refundable deposit that would forfeited in the event a buyer failed to complete the purchase in the alloted time. Lease purchases tend to be a last resort for both sellers and buyers. Therefore, I would recommend eliminating all the other options (there are many others including owner financing) before pursuing a lease purchase. Nevertheless, if you believe that is your only option I'm sure your real estate agent can locate a few properties that may work for you. If you don't already have someone helping you, contact me and I will be happy to discuss your options with you. ... more
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