2007-07-09 17:17:54 · 4 answers · asked by Pedro P 1 in Business & Finance ➔ Renting & Real Estate
Yes, but you won't find them at a bank or listed with most real estate agents. Look for rent-to-own or Lease Option.
Most are offered by real estate investors. Many will help you with your credit to get qualified for a purchase.
I've sold 4 homes that way in the last year. (5 at the end of this week)
2007-07-09 17:23:01 · answer #1 · answered by PersonalFreedom 4 · 1⤊ 0⤋
Sometimes investors will lease you a home with an option to buy...with a portion of the monthly rent going to your down payment...there aren't any banks or government programs that offer this type of program. Your best bet is to look for investors who sell homes with 'for sale by owner' signs.
You have to just look for homes and ask, and ask, and ask until you come across someone who is familiar with this and willing to do that. They are out there...I've sold a home like that in the past and I know of some others who have been willing to do that.
2007-07-09 17:24:33 · answer #2 · answered by minimickimichelle 4 · 0⤊ 0⤋
In a "rent to shop for association - referred to as an Option to shop for" you need to be there at a minimum of for two years (24 repayments) and just a component of your hire for the 24 months will observe as a Down Payment - most likely five to ten%. So if you are paying 1800 per 30 days hire - a hundred and eighty will likely be used to create a fictional down fee - $4320 (2160 if five%) you'll be able to ought to pony up a few extra coins to hide your five% of acquire fee. $two hundred,000 priced house - five% down fee is $10,000 - so in the course of the two years you'll be able to must shop anyplace from 8000 to 6000 to get your DP. You would possibly qualify for a three% FHA, so you'll paintings your possess numbers. Call a Real Estate Broker for your field, and provide an explanation for what you are watching for - do not name Ads if they are renting a condo. Yours is a exact trouble, and so much landlords is not going to wish to promote their apartment properties. With an RE agent, a few property owners may also be persuaded to "rent" as an alternative of marketing if they've plans to transport, or have purchased an extra condo.
2016-09-05 21:56:56 · answer #3 · answered by ? 4 · 0⤊ 0⤋
Not official programs but some owners will sell that way. It might be risky for you so think carefully about all the terms.
2007-07-09 17:24:39 · answer #4 · answered by shipwreck 7 · 0⤊ 0⤋