I Finance Construction has developed a special program for Rent to Own. Basically I have a special contract for these kinds of deals that works out really nicely for the borrower and the lender. This deal works in these situations:
- The borrower has at least $10,000.00 to put down towards fees.
- The amortization is setup at the beginning so that the borrower can qualify with a bank according to their current income.
- The contract guarantees the price of the property for the borrower in the future.
- The borrower qualifies with debt service ratios to service the debt until payment X comes along and will qualify for alternative financing to pay the lender out.
- The lender and borrower must be crystal clear on the contract and no disagreements happen down the road when its time to pay out the lender.
- My contract protects the price for the borrower and protects the lender for the long term investment.
- This can work for an investor that has a mortgage on the property too.