Houses Buying Tips – Fairfax Virginia – Lee Allen Team: Many Americans are under the impression that if you don’t have a large down payment and your credit isn’t stellar, you will be doomed to a lifetime of renting your living spaces. That’s not necessarily true anymore. There are numerous real estate property wholesalers that have found a way to help you get into a house that you can eventually buy.
You’ll still have to come up with a down payment eventually and you will need to improve your credit score but you can be living in the house you want while you do so. Current programs include rent-to-own and lease options. Some wholesalers can give you tips on what you’ll need to do to improve your credit score and part of your rental amount can go towards the buildup of a down payment.
The idea is fairly simple. You want to buy a house. They want to sell you one. Since so many lenders have tightened up the qualification criteria due to the housing mortgage crisis, fewer people qualify for mortgage loans. If a wholesaler can work with you to get you to qualified status with a lender, you will take out a loan on the house when all your ducks are in a row. In the meantime, you live in and rent the house, knowing you will buy it in the not too distant future.
Renting a house from a landlord only gives you a place to live temporarily. It also pays his or her mortgage so you are essentially buying the house for him, while keeping his property occupied and in good condition. You don’t have to do that anymore. Find a house for sale as a rent to own option and you will be working toward owning the house you rent.
There is something very satisfying about knowing that you will someday own your home. Renting is very temporary and you can be asked to vacate your home if your landlord decides to sell, becomes ill and can’t take care of it anymore, or a number of other common reasons that rentals are not considered permanent for the tenant.
If you live in one for a year or two and decide you hate the neighborhood or the schools don’t have what your kids need, move on. If you love the area and your family is happy there, keep it and continue to work toward ownership of the property.
 Our Fairfax team specializes in finding creative solutions to real estate problems that others won’t touch. It is through this collaboration that we can provide you with rock bottom priced homes and motivated home buyers and investors from around Northern VA. We will work to make your home purchase and sales processes as easy as possible, while providing you with the most up-to-date information of your transaction process as it develops.
Lee Allen Team works to preserve the dream of home ownership for those who are experiencing the financial and emotional duress associated with unwanted or financially unstable property. We know what our business is; we know what we do well, and we believe that we are the best possible solution for people caught up in circumstances beyond their control.
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