Can I do a lease to own even if i don't have any rental history?
I rented for 6 months in college before becoming a live-in nanny for a couple. I did not have to pay rent. After graduation I moved back in with my parents and have been working ad saving for a little over one year now. Credit score is 727 by 3dogdayafternoon6... from Powers, Oregon. Aug 25th 2014
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
Lease to own offers are done by homeowners.. they are not a true "Loan Product".. and typically, anyone offering their home as a lease to own, there's probably a reason.. Undesirable property, un fanciable, poor property condition, selling for more than the home is worth.. etc.. in this market, homes are selling.. so it makes no sense in a good market that someone would offer their home as a lease to own.. Anyway.. with a 727 credit score, you should have no problem qualifying for a mortgage, so long as you meet all other qualifying guidelines.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com
Chris Barry (TheLoanDoctor)
#43 ranked lender in Oregon - 45 contributions
William has some good points. Also, a lease option can get a buyer into trouble if a large non-refundable deposit is asked for at inception. Give me a call and let's discuss this further. You might just be better off buying a house with a regular mortgage, and I can help you with that.
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