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Options for Buyers Seeking Rent to Own or Lease Purchase Homes in Atlanta GA
Most buyers believe their credit isn't high enough to own today so they are often searching for Lease Purchase, Rent to Own, or Owner Finance homes in Atlanta GA. However, their credit score may not be that far off from qualifying to buy within the next year.Many South Metro Atlanta potential homes buyers now have more options towards owning a home than they may realize. Sellers, and some lenders, are now offering homes for sale with flexible purchase terms that may allow prospective buyers to own a home faster if they find the right source.Owner Financing is still a great option to buy because buyers can still obtain the First Time Home Buyer Tax Credit with a purchase. The State of Georgia also offers an $1,800 although this is spread out over 3 years tax returns. The Federal Tax Credit is only available until the end of November 2009. Owner Finance home buyers can get credit development assistance to refinance into FHA financing over a reasonable period of time. There are still rarely heard of, government backed, FHA financing options available for buyers with credit scores as low as 530. Some restrictions and qualifications still apply, but what these lenders are ... more
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