This property is available on a rent-to-own basis. Why Rent When You Can Own? Bad Credit, No Credit, No Problem! Louisiana - Mississippi - Florida We've been offering financing options to the community since 1988, beginning in Slidell, Louisiana. Now spanning through most of Louisiana, Florida & Mississippi Robert Delaney CEO has served in many organizations including but not limited to: -Board of Home Builders -Saint Tammany Parish Board of Adjustments -Leadership Northshore Slidell Louisiana We can finance you, if you have cash to put down... The advantages of home ownership through our Lease Purchase Option: 1. Long term, buying is cheaper than renting. We apply principle toward your loan. 2. Home-ownership builds wealth and establishes credit. 3. We will finance you another house if you pay on time. We will even upgrade you. 4. You don't have the hassle of mortgage approval and lengthy escrows. 5. No high closing costs or bank points. Property is at an all-time low. Get your dream home now before prices go back up! Buying a home with a conventional mortgage and financing with a bank, you are required to have spotless credit. If you are in a divorce, bankruptcy, have no credit or are in a lawsuit, a lease with a purchase option allows you to get a head-start on getting yourself on the right track. We also have a program for people who have found the perfect house, but aren't able to purchase it with a traditional loan. A. We will purchase the home you choose (after we do some research and make sure the house is a sound home, in good repair, appropriately priced, etc.) B. You must have a minimum of 25% down. C. We mark the house up 20 % - 30% depending on the house. This is how we cover our costs when you pay us off. We pay interest on the non-owner occupied loans we have on the purchase of these homes, we don't make it on the interest rate. D. Our current interest rates are calculated by down payment along with current standard mortgage rates and purchase price. With all programs if the property is already owned by us, you can finance with as little as 10% down If you find the house and we purchase it for you, there is a minimum of 25% down. EXAMPLES OF OUR OWNER FINANCING PROGRAMS: With 3 year balloon and 30 year amortization and the house is not current owned by our organization: Sales Price of $100,000.00 with 25% down @ 10% interest 25% Origination fee $25,000.00 25% Down $31,250.00 Principal & Interest payment $846.86/month Taxes & Insurance ($4,300.00/year) $ 358.33/Month TOTAL MONTHLY PAYMENT $1,205.19 Sales Price of $150,000.00 with 25% down @ 10% interest 25% Origination fee $37,500.00 25% down payment $46,875.00 Principal & Interest payment $1,258.22/month Taxes & Insurance($4300.00/year) $358.33/ month TOTAL MONTHLY PAYMENT $1,616.55 Sales Price of $200,000.00 with 25% down @ 10% interest 25% Origination fee $50,000.00 25% down payment $62,500.00 Principal & Interest payments $1,669.58/month Taxes & Insurance ($4300.00/year) $358.33/month TOTAL MONTHLY PAYMENT $2,027.91 Closing costs can be financed in the loan or paid up front. Below is a breakdown of estimated closing costs to be expected on a sales price of $150,000.00 ESTIMATED CLOSING COSTS Settlement Fee $ 250.00 Title Search/Tax Search $ 550.00 Title Insurance $ 400.00 State Tax/Doc Stamp $ 200.00 $ 250.00 $ 500.00 Background/Application Fee $ 100.00 Home Inspection $ 500.00 TOTAL ESTIMATED FEES $2,750.00 Payments due at Signing on $100,000.00 Purchase Price Yearly Insurance $1,500.00 Yearly Flood insurance $1,000.00 Yearly Liability $300.00 Yearly Taxes- 2015 $1,500.00 Down Payment (25% of purch. price)- $31,250.00 First Months Triple Net Lease Amount $1,205.19 TOTAL ESTIMATED DUE @ Signing- $36,701.02
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