Rent-To-Own

As low as 550 Credit Score

More Flexible Income Docs

Only need move-in costs to close

Single Family Condo OK

Lease-To-Own Program Benefits:

  • Rate locked in on a 30-year mortgage at the time of lease

  • Assumable mortgage opotion at the end of the lease period

  • Protects you from being priced out of purchasing

  • You build equity before purchasing the home

  • Equity is applied toward the purchase of the home

  • No income or asset seasoning is required

  • You can always purchase the home when you are ready

Minimum Requirements:

  • Credit score of 580+ (Equifax) down to 550 with a clean application

  • Self employment requires a score of 580

  • No minimum reserves but must document move-in cost funds

  • No active bankruptcy, foreclosure, or short sale

  • On time housing payment history for the last 24 months

  • Pre-purchase counseling before you move in

Income Documentation:

  • Paid by W2? -- Most recent W2 plus 60 days of most recent, consecutive paystubs

  • Self Employed/1099?  -- Most recent tax returns, year-to-date profit & loss, 
    2 months business bank statements verifying cashflow and copy of business license

  • New employment or raise? -- Letter confirming start date and one paystub 

Cash Needed to Move In:

  • NO down payment required!

  • 1% of purchase price inception fee

  • $1,295 Underwriting and Program Fee (You get a $400 credit by working with me!

  • Up to 3% of closing costs (can be covered by seller concession or finance up to 2%!)

Exceptions/Accomodations:

  • Have student loans on deferment?  If so, these are not included in total debt ratio!

  • Collections/Judgments are amortized over 36 months for easier approval

  • Tax Liens are amortized over 36 months or if making payments, included in debt ratio.

  • Charge-offs are not included