I'm working with a fabulous buyer who has a good income and wants to buy a home that is priced at around $700,000. He's got great credit, is being relocated with a company, his home in another state is paid for...but he can't buy until he sells his home, anyway. So after working with him for a bit, he wants to look at rentals.
I've suggested a Bridge Loan, a-lease-to-purchase and a Jumbo FHA loan (higher rate) that can be streamline refinanced in a couple of years. I don't know if these are being considered just yet.
I ask myself, though: With such a great buyer, why does it have to be so challenging?
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