Two Realtors told me about â€œbuyersâ€ that lost a total of $60,000 in rent to own deals that went bad last week. Trying to work around the system that is there to protect your rights is never a good move so be careful.
I know that underwriters must sign off on you getting a mortgage when the time comes to actually pay the seller in full. Do you know how they are going to interrupt your rent to own contract? They have a set of rules and it wonâ€™t matter what the contract says, the underwriter will follow the rules for the type of mortgage you apply for. If the contract doesnâ€™t satisfy the minimum threshold for the mortgage you apply for the loan will be declined. Yeah, itâ€™s that technical.
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Financing Kentucky One Home at a Time