Are you tired of renting, but can't buy right now because of one of the following challenges?
* Credit Challenges
* Past Bankruptcy
* Recently Divorced
* Past Repossession
* Medical Recovery
* New Job
* Short Sale
* Self Employed
If so, the new GA Lease-To-Own Program is right for you.
This program offers many benefits
Everyone may not be able to approve for a traditional mortgage at this time, but want to take advantage of the current low interest rates and buy a home before prices go up. This program closes the gap in housing financing, therefore allowing a lot more people to become homeowners. Rent prices are sky rocketing and are projected to keep rising. If you have to pay rent, you might as well pay it for the house you plan on buying. This program is not like the bootleg "rent-to-own" signs you see on the side of the road or the sketchy ones on Craigslist. This Lease-To-Own Georgia program is backed by the Federal Housing Administration (FHA). I am a certified agent and have received credit hours from the Georgia Real Estate Commission. We want you to own the house without having to pay a large down payment in order to have a lease-to-own option. You will be able to have a lease with the option to buy. Qualifying is much easier because you are applying for a lease instead of a mortgage. Making it much easier to get financed.
Unlike having to chose from a few lease-to own homes, you can go out and look for properties available in the home buyer market as if you have been approved by a lender for a mortgage. Also, you will be able to live in a new home! The home must be built within 10 years or has been recently remolded. And best of all.....YOU CAN EVEN GET A NEW CONSTRUCTION HOME! #GameChanger. And with a new construction home you can save money on the inspection fee because inspections are not required for a new construction.
* Have a low upfront cost
* Have flexible lease terms. You will have the choice to finance from 1 to 5 yrs. (up to 5yrs to buy the home)
* Have fixed monthly payments
* No obligation to buy
* Purchase the home at any time during your lease or after
* Have options at the end of your lease allowing you to buy it, release it, move on, or exchange it for another property
* Provides protection against rising interest rates.
* At least a 580 credit score (Provide Credit Report)
* Have supportive documentation to show income to prove you have enough cash each month to pay your monthly lease payments and any other obligations you may have.
* Prove rental/mortgage payments have been paid on time
* Gross household income of $3600/month
* No ACTIVE bankruptcy or foreclosure (Must be discharged)
* Have a cash, savings, retirement or gifted funds for at least 2 months of your lease payment (min of $2,500)
* Apply (NO APPLICATION FEE)
*Receive the preliminary approval withing 3- 5 days. Final approval comes after all of your documentation is received (proof of income, employment, and housing history info)
* Once you receive the pre-approval letter you can look for houses as if you have been approved by a traditional lender.
* Search for a home
*Once house is under contract you then go under lease.
* Pay 1% of sales price move in fee, $655 underwriting fee, and 1st month's rent
* Show you have credit potential to buy the property at the end of your lease.
If you would like If to receive an estimate how much you could possibly approve for (monthly payments/house sales price) please email me and I will get that to you. Please send request to MzATLRealtor@gmail.com.