I have been asked about model lease back financing recently. This is a loan program that allows an investor to purchase a model home from a builder who in turn leases it back from that buyer and continues to use it as a model home. Talk about a great tenant who will take care of the home!
Since 2007 this type of financing has been put in the oversized bucket labeled “builder bail-out” and banks would not buy these loans, therefore, we couldn’t originate these loans.
Due to my recent move to Security National Mortgage and more flexible underwriting guidelines, these loans are once again available to me.
If you have someone interested in obtaining this type of financing, please let me know.