Florida Rent To Own
Florida Rent To Own
Banks are not lending money as they once did.
You know this already, don’t you? Chances are, you discovered this (reality) the hard way. If you don’t have W-2 income, good credit & a lucky charm, forget trying to get bank approved.
Great News: Despite lower credit scores & no ability to bank qualify at this time, you might qualify for “owner financing.” You grab the keys to your new home, move in, enjoy it & earn the time you need to bank qualify later without overpaying.
Home Ownership Comes In Many Flavors!
- Conventional financing is the most obvious, right? Here’s where a mortgage lender forces you to jump through a bazillion hoops.
- Owner financing takes place when the owner of record becomes your bank, financing you based on whatever terms he and you determine. Recently, a buyer’s ugly credit rejected conventional financing. The buyer found a seller who was willing to provide owner financing. The owner owns the property free and clear (though this is not mandatory). Seller reviewed everything that a mortgage banker would review. However, owner agreed to work with buyer despite ugly credit. Buyer provided $20,000 down payment and owner offered buyer 5.5% rate of interest for 10 years (low-priced property).
- Rent to Own (aka “lease option,” “lease purchase,” or even “lease with an option to buy”) hands you the keys to your new home as you work to get bank financed. True, finding owners willing to sell on rent-to-own is more challenging today. Most sellers NEED to sell. However, many sellers (by no fault of their own) cannot sell regardless how far their drop their prices. When available, rent-to-own opportunities typically require must less down payment than a pure owner financing opportunity, though this is changing. To minimize risk, sellers are demanding more “down payment” money before they hand over the keys.
Sellers who are NOT underwater and who do NOT want to give away their properties are more receptive to renting to own their properties.
Do You Qualify For Our Help?
To qualify for a Florida Rent To Own home opportunity, are you willing to:
- Make on-time monthly payments. If you have a history of not paying your rent on time, please do not even contact me. Unlike many others who only care about setting you up for failure and who do not care about your past rental history, I do confirm past rental history. I care that you get your home in your name as soon as possible.
- Maintain the property according to the contract. We only work with nice homes in nice neighborhoods. If you want to live like “pigs,” please do not contact me. You must be willing to maintain your home, both inside and outside.
- Work to bank qualify during the lease period. In life, all of us encounter financially challenging times. At those times, we all hope to encounter people who are willing to give us a second chance, a “hand up” if you will. This is exactly who we are and what we do. We are more concerned with who you are today, not who you were (or what your FICO was) yesterday. As long as you are willing to bank qualify during or at the end of the lease term, I welcome the opportunity to work with you.
Is this who you are today? Are you willing and able to make on-time monthly payments? …to maintain your new home according to the contract and neighborhood standards? …to bank qualify during the lease term?
If so, please complete the form below. Tell me what you want & where you want to live. Soon I’ll have a form for you to check out what you want in a home including what you’re willing to pay in a monthly payment and a separate down payment.
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