Home Buying in Vista>Question Details

hollyspriggs, Home Buyer in Knoxville, TN

I've found a house I would like to purchase but have only been at my job for 7 months, I found the perfect home for myself, 3 children and my

Asked by hollyspriggs, Knoxville, TN Fri Jun 7, 2013

disabled brother that I care for. I'm a recent college graduate and will be in position in about 8 months to purchase the home personally. I was wondering is it possible to find an investor to purchase it and then lease it to me. Any feedback/suggestions would be very much appreciated. I have no family other than my children and brother, so no one that can co-sign for me.

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Answers

5
Your intentions are great. You have a lot of people who depend on you so it is important to make sure you have reserves. I would hate to see you buy a home that stretched your budget too much. A lease to own option may make sense although I am not a fan of them...seems it is never a win-win situation.
0 votes Thank Flag Link Thu Sep 26, 2013
Hi Holly,

This is really a question best answered by who ever you work with to get a loan.

Call 3 lenders, explain the circumstances and follow their advice. If they cannot give you a loan, ask them if they know someone who can.

Best of luck,

Mark & Kari Shea
Shea Real Estate
National Association of Realtors
CA DRE License 01713506
0 votes Thank Flag Link Mon Jun 10, 2013
If your employment is full time and in related field as your college education, we can use your income and be okay with less than 2 years of employment history. Additionally, if you collect money from state/fed government to care for your brother we can also use that towards your income qualifying (as long as we can document it).

Many options for you. Please call me if you have any questions.

Thank you and I look forward to hearing from you soon!

Dave Morris
Sales Manager
NMLS #455353



9909 Mira Mesa Blvd., Suite 110
San Diego, CA 92131
Cell 760-212-8252 | Office 858-800-3405 |Fax 855-372-5114
dave.morris@caliberfunding.com
http://caliberfunding.com/dmorris
0 votes Thank Flag Link Mon Jun 10, 2013
Holly~

Feel free to contact me to discuss. I do know of an Investor does do this if the scenario is right. No
condos, Must be a good home in a good area. Let's see if this house fits his criteria, he will buy cash.

Chris Gorno
DRE#01499885
(619)788-4345
0 votes Thank Flag Link Sat Jun 8, 2013
You don't need an investor. You don't need 2 years job history, you just need 2 years in the same industry. If you can show that your schooling led to your current job you can get a loan, buy your home, and live happily ever after.

If you have questions, let me know what I can do.

Daniel Lehman
Daniel.lehman@wjbradley.com
0 votes Thank Flag Link Fri Jun 7, 2013
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