Have an opportunity to purchase a townhouse in a rent to own situation. I am looking for advice to help me.? - rent to own townhouses
The situation is as follows. The place is one years. Current owner paid $ 179,000. I was a position in which I sold after two years for $ 205,000 with no closing costs. (A portion of the revenue over two years is applicable in this case.) Would my income during this period is $ 1,000 per month, which is lower than your mortgage and the mortgage would be less than if I tried to finance today Buy get. That gives me the opportunity to the savings account, a small down payment on the spot and made me put my finances and credit line. I would run the risk that the property would be very grateful for that time. Other units in this community is now around 190,000 for the same properties. This is my first time to acquire a first home. I think I need to enter the housing market, so that we can now move to the areas largest and most beautiful time I had children. Please advise
Wednesday, January 6, 2010
Rent To Own Townhouses Have An Opportunity To Purchase A Townhouse In A Rent To Own Situation. I Am Looking For Advice To Help Me.?
3 comments:
Would not it be better to rent for 2 years while you save $ and buy the house of the city, or similar, typical in a transaction?
Obviously, the only advantage that you can save money increase when prices more than 10% over the next 2 years. I think I could be useful if your typical rent a similar property about $ 1,000 and you get a significant amount of credit for the rent.
Go ahead, it is to your advantage. Who will buy property in the value of the contract 2 years.
A lease of real estate is a good choice for someone who does not get a mortgage now. It is basically to allow time for the person to credit, employment history, or what they need in order to qualify for a mortgage.
If I were you, before you lease, you call a mortgage broker and tell them you want to buy a house. Before they can qualify. If you do not get a mortgage, it is better to buy a house. You can probably a loan from the FHA, which has a very low interest rates. This is you an affordable monthly payment. When you buy your home, you have to cancel the tax, you can own and build equity for themselves and others are not person.There many credit programs, and can choose almost any get a mortgage these days.
If you are not qualified for any reason for a mortgage, then go for the purchase of leases.
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