lease purchase: Buying A Charlottesville VA Home - Lease Purchase Pitfalls
- 09/02/09 01:49 PM
When buying a Charlottesville VA home, remember that a lease purchase can come with pitfalls. In the current mortgage situation many homebuyers are not able to meet the downpayment requirement. Whether it is a conventional loan requiring 20% down or a FHA loan requiring 3.5%, they just don't have access to the cash. In that case many homebuyers think that rent to own or a lease purchase is a great option. The allure is that while paying rent they will be on their way to homeownership. In a typical lease purchase situation, a portion of the rent will go toward the … (0 comments)
lease purchase: Is A Lease Purchase The Best Deal For You?
- 06/19/09 07:08 AM
Is a lease purchase the best deal for you? Lately several buyers who are looking at Charlottesville homes for sale have been asking me to find homes that are lease purchases. Many purchasers are having a hard time coming up with the money for a downpayment, but they want to be able to get into a new home. Sometimes they have a home to sell somewhere else and are not able to take on a second mortgage until that house sells; at the same time they do not want to feel like they are just throwing away money on rent. A rent … (0 comments)
When buying a Charlottesville VA home, remember that a lease purchase can come with pitfalls. In the current mortgage situation many homebuyers are not able to meet the downpayment requirement. Whether it is a conventional loan requiring 20% down or a FHA loan requiring 3.5%, they just don't have access to the cash. In that case many homebuyers think that rent to own or a lease purchase is a great option. The allure is that while paying rent they will be on their way to homeownership.
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