Rate 1 Mortgage

Home  First Time Buyer   Buying A Home   Mortgage   Mortgage Refinance   Govoernment Programs   FHA Refinance   Home Affordable Refinance Program or HARP   Reverse Mortgage  Mortgage Refinancing Advice  12 Common Mistakes Home Buyers Make  HARP Refinance  Conventional Refinance  Cash-Out Refinance  USDA Streamline Refinance  VA Streamline Refinance  Is Life Insurance Compulsory for Mortgage?  9 Tips for Applying Mortgage Credit  Good Time to Buying A House  Select Your Mortgage

Click to see mortgage rates

Rent/Lease to Own Purchase Program

5 Steps to Turn Renters into Homeowners

Have you been renting a house or condo for at least a year and have nothing to show for it? Rate One Mortgage is working on the perfect loan program for you! In just five easy steps we hope to turn Renters into Homeowners. You won't even need a down payment or closing costs!

  1. Landlord/Owner is selling to Renter/Buyer
  2. The purchase transaction will be treated as if it were a refinance loan -Owner/Landlord can use appraised value -Renter/Buyer must have rented subject property for at least 12 months
  3. Write up a purchase contract -Purchase price can not exceed 90% of appraisal value -Seller concessions of up to 3% must be included in purchase price -Contract need not be back dated or recorded
  4. Renter must provide proof last 12 months rental payments were not more than 30 days late. Proof must be: -Copies of canceled checks, front and back , and/or -Money Order receipts and/or -Bank or Credit card statements
  5. Apply for the loan. (When we have the program set up.)

If you are interested in this unique program email us and let us know!

Click to see mortgage rates

Home | Loan Options | Your Credit | Mortgage Calculator | Purchase | Refinance | Debt Consolidation | V.A. | Non-Conforming | Equity/Second | The Mortgage Process | Resources | More | Credit Scoring | 7 Reasons to Get A Loan before Home Buying
Copyright@ 2020 www.rate1mortgage.com