Home Buying in Dallas>Question Details

Jose Duque, Real Estate Pro in Dallas, TX

Any Lender for ITIN loan or NACA approved Lender in Dallas?

Asked by Jose Duque, Dallas, TX Thu Aug 26, 2010

How you find seller financing homes or lease to own in Dallas TX

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I have dealt with NACA and cannot recommend them. They strung my buyer along for months saying the approval would be coming any moment. The program sounds good, but I have had only 2 buyers who successfully closed at their below-market rate. Their local loan officer lies about what work he has completed and where the borrowers are in the program. (There is only 1 NACA lender in Texas and you have to apply through NACA.)

ITIN loans are available and I have dealt with a couple of them. The old Banco operation closed up as well as most other ITIN lender but there is one I know who works. The rates are not pretty. But, when the borrower has no choice....
Ask me and I'll put you in touch with a lender who has been doing them for years.

Seller-financed homes are in NTREIS (such as they are). If you need help pulling them, contact me.
0 votes Thank Flag Link Fri Aug 27, 2010
Pepe.....stay away from this stuff. The chances of getting a bad deal with owner financing or lease to own are high. We've tried to outlaw lease to own, but there are still some people out there trying to find away around the intention of the law. With seller financing, you should really only do this is the seller owns the house outright with no other liens. I find this is rarely the case. There is normally a mortgage and when that mortgage doesn't get paid, the house goes into foreclosure, you loose the house and all the money you gave to the 3rd party.
BEST IDEA....rent for 2-3 years way way below what you can afford to pay. Find the cheapest house or apt you can stand to live in. Bank the extra money, and use it as a down payment when you have a big pile of cash.
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Thu Aug 26, 2010
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Call this guy: He is good with this kind of thing if he can't help he will point you in the right direction
214-537-5626 Sergio Bazan. Best of luck with this.

Doris
0 votes Thank Flag Link Thu Aug 26, 2010
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