Rent to own any home on the market. No banks needed!

So you want to rent to own? I have helped several people get into a home using my credit.
Here is how it works.

1-You pick any home on the market.

2-I buy it for you. You need to put 7% down. I leave my commission into the deal which is usually 3%.
I put 10% down on the home and borrow 90%.

3-You use my 800 credit score to get the best possible interest rate. Your payment will be $250 per month over my payment. If you can put more down, your payment will be lower.

4-You rent this home from me for 6 to 12 months depending on how long you need to fix your credit.
You are in charge of all maintenance, utilities, and repairs just like if you went and got the loan yourself.

5-My banker works with you to fix your credit.

6-I sell it back to you for exactly what I paid for it.
How would this work?

Let's say I buy you a $150,000 home. Just to make things simple, I buy it for $150,000 and roll all my closing costs into the loan. Before I finalize the deal, I sign a rent to own agreement with you.

Basically you put 7% down. On a $150,000 home that is $10,500. I get paid a 3% commission for buying the home and I leave it in the deal. I take your 7% and my 3% and put $15,000 down on the home.

I borrow $135,000 and buy the home. Your payment is about $1350. This could actually be cheaper depending on what interest rate we get. My payment is $1100.

You would pay $1350 rent before moving into the home once it closes.
How does the option work?

To rent this home for 6 months will cost you 3% or $4500. To rent it 9 months will cost you 4.5% or $6750. To rent it 12 months will cost you $9000. The sooner you buy the home, the more money you get credited back to you.

If you bought this home in 6 months, it cost you $4500, and you get $6000 as a credit back to you when you buy it. The home should be worth at least $154,500 or $4500 in appreciation so you really aren't out anything.

Even if your credit was awesome, it would cost you 3% of what you buy or in this example, $4500.

These costs are cheap. If you didn't use my credit, you would have to get a hard money loan. They would want 20% down or $30,000. You would have to pay 4 points or $6000, and your interest rate would be at least 12%.

The good thing is your home should actually go up in value 6% during this 12 month period of time depending on the market.

You get to buy this home for only $150,000. The home could be worth $159000 or more. Our actually appreciation rate has averaged 6.3% over the last 5 years and is one of the most consistent appreciation rates in the nation.

If you need 6 to 12 more months, I add 3% to 6% to the purchase price. So in this example, the first year the price remains $150,000. If you bought it in 18 months, the price would be $154,500. If you bought it in 24 months, your price would be $159000.

The home should be worth $168000. (6% appreciation per year)

Your rent will always be $250 above my payment, and you get at least 1% credit back when you buy it even if you go 24 months.

This is a great deal, and I will buy as many homes as my banker will let me over the next few months. Call me today for questions, or more details.

You could probably get by with only putting 3% down if you only wanted to do a 6 month rent to own. Sometimes that is all you need to fix your credit.

Thanks Burke Bennett 208 589 5599
http://www.seidahohomes.com burkebennett@hotmail.com