3 types of Financing:
Promissory Note/Mortgage:
This model is essentially the same as a traditional mortgage deed, in which the buyer signs a document stating that the lender holds a security in their property until a loan is paid off. In this set-up, the buyer receives the title, and the mortgage is recorded with the local government which allows the buyer to save on property taxes.
Contract for Deed:
In this agreement, the buyer does not receive the deed and title to the property until the loan amount is paid in full. Until then, the seller retains the property deed and title which means the buyer can’t save on property taxes and insurance.
Lease-Purchase Agreement:
In a lease-purchase agreement, also called a rent-to-own agreement, the buyer leases the property for a period of time before agreeing to the final terms of buying the home. If the buyer chooses to buy at the end of the lease period, any rent paid during the lease goes toward the sale of the home.
Down Payment requirements?
Down payments can be negotiated depending on many factors from house cost, credit score, and monthly payment. The houses we sell typically range from $60,000-$160,000 which typically would require $6,000-$20,000 down. If you don’t have the minimum down payment we will try to get you into the house you love through a rent-to-own option of financing.
No Credit or bad credit?
Our goal is to get every person or family into a house they love while the buyer gains equity in the investment.
We understand that every situation is different.
We know you might have encountered a tough situation in the past that has caused your credit to be lower than you want.
We want to hear your story.
We want to help.