www.mycreditteam.com                         

The first step is to position your application for rent to own, to be as desirable as possible for any landlord/seller. The cornerstone to your application is your credit score. If your score is below minimum guidelines (640 for most loans and 620 for FHA) you will need to develop a documentable plan to raise your score. The person who you are working with on obtaining your property has an affiliate relationship with www.mycreditteam.com. They are experts in the credit restoration and enhancement industry who not only will work on your behalf to raise your score but will also keep the landlord/seller up to date as to the progress of your credit enhancement process.

What is required to qualify for a lease purchase property?

Great question!! When you apply for a lease purchase property, there are some main items that are being reviewed and that are being looked for:

• A Down payment - amount to be agreed upon by you and the landlord/seller

• Debt to Income Ratio Analysis - We will make certain the lease payments along with you future mortgage payments are within your budget and meet the lender underwriting guidelines. For this step you will need to provide your income documentation

• Credit report score to be above minimum underwriting standards or you must be enrolled in credit restoration / enhancement 

Terms of credit during rental period dependent on agreement with homeowner. Terms of credit may affect ability to qualify for home loan at end of lease period.