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How
we work with buyers... What kind of financing do you provide? We provide short-term financing (usually 12 to 24 months) to help families who can't immediately
qualfy for a conventional mortgage buy a home today. We typically finance the house for one to two years so that you
can qualify for a refinance loan, readly available to Lease Option buyers. During this period, as you make yourself
at home in your new house, you will improve your credit, restore your finances, earn dollars towards the refinance
amount, and establish a solid 12 to 24 month payment history. We provide short-term owner-financing by a lease
with purchase option. This method of owner-financing may not be well known by most buyers, but most lenders find it
superior to many other programs available today due to its simplicity and relatively low-cost of implementation.
Why is a Refinance Loan a
better choice? Your goal is to have ownership transferred into your name.
You want to OWN that house! A refinance loan is easier to qualify for than a standard loan because conventional
lenders and mortgage companies look to a provable12 month payment history as the basis of a refinance. We make sure
to keep copies of all checks and/or money orders you pay to us to show your 12 month payment history to a conventional lender
or mortgage lender when you're ready to exercise your option. Another benefit of a refinance loan is that once you pay
the option fee to us, you will not have pay any more money down for the refinance loan. All the loan fees and closing
costs you typically have to pay in a New Purchase loan would instead be rolled into the refinance loan. What if we need more than two years to qualify
for a refinance loan? We are here to help you buy, not kick you out of the
house! As long as you have kept up the house and yard, made your payments on time, and have been a good
neighbor, we can (usually for a small fee) extend our contract to give you more time to qualify for a refinance loan.
We may extend the contract one year at a time until you do qualify for a refinance. For each year we extend
you may be subject to an extension fee, a monthly payment increase, and an increase in the price of the home due to
appreciation. We do this because we are not in the business of long term financing, and we want you to work hard to
qualify for a refinance loan in a timely manner.
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Who will you
work with? We want to work with people who are very serious about wanting to
own their own home. We want people who will maintain their homes and yards and be good neighbors. We want people who
have steady jobs and income, who are recovering financially and have a history of being a good tenant. Having
credit problems from which you are recovering is preferred but not required. Every applicant will be considered
on his or her own merits. We will not work with those who have a history of paying late for no
good reason, drug dealers, criminals and those who we feel are not prepared to make a wise decision regarding home-ownership.
Our favorite clients are good people who want the opportunity to own a nice home. What qualifications are you looking for? We are in no way the sticklers
banks and mortgage brokers are! We are looking for two things: Employment - Are you currently
employed at a stable job? and Tenant History - Have you been a good tenant in the past? We understand
that you may have experienced bankruptcy, foreclosure, repossessions, overdue credit card payments and other credit challenges
in the past. Good News! We not only understand challenges, but we are in business to give people second chances.
Those who have the necessary option money and are gainfully employed with a good tenant history are just the people
we are looking to place in our Lease Option Homes. How long will you
hold a house with a deposit? We won't. We will not accept a deposit to hold
a house. It is not fair to those who are qualified, have all the funds and ready to sign now. We will
advertise to the public until we have a qualified applicant who can sign on the dotted line and pay the required
amounts. How do I get started? Visit our list
of available homes. Go for a drive and look at the home. Walk around the yard (call first, it may be
occupied!). Talk to the neighbors. If you can see your family living there and want to see the inside,
fill out our application and fax it to us today! If you don't
see what you are looking for, Visit us at cash4yourMThouse.com and submit a
"buy a Home" request!
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