EASY OWNER FINANCING, NO BANKS NEEDED -- Lease with an option to buy. Make on time payments to qualify for owner financing and save for down payment. The option gives 35 months to save money for the down payment and closing costs to qualify for owner financing. The lease and option must occur together. No credit needed. If you can buy immediately with a bank loan, I will give you a discount on the sales price or help with closing costs. 2,108 square foot, 4 Bedroom, 2.5 bath, 2 car garage house in the Maple Ridge Place subdivision between Veterans Memorial and Antoine off Frick Road. 2006 built house with large kitchen has a stainless steel dishwasher, microwave &range with plenty of counter & cabinet space plus a pantry. There is a breakfast room, dining room, living room, laundry room and a great room/game room/study area upstairs. If you wanted to convert that area into a 5th bedroom, it looks easy to do. The fenced back yard has a nice covered patio and a playset designed for ages 3 to 10. The builder used PEX water lines so you don't have to worry about the water lines in freezing weather. Why rent when you can own? For Sale By Owner. No Credit, No Banks. FSBO Here's how it works: 1) Start with a $12,500 option fee. This gives you 35 months to buy. Qualify for owner financing after 12 monthly payments made on time along with a total of $25,000 down payment. You also need closing costs of ~$6,900. You can get your own loan from a third party any time if you want or use owner financing - whatever suits you best During the option period you pay rent of $1,650/month. For months 1-18, $250/month counts towards the down payment and the purchase price is $162,500. For months 19-35 $200/month counts towards the purchase and the purchase price is $165,000. 2) If you purchase during the first 18 months, the total monthly estimated payment of $1,760/month includes the house payment (principle and interest), taxes, insurance, home owners association fee and the minimum note processing fee. Assumptions: A) Loan Balance $137,500 B) Total taxes remain the same as 2015. C) Insurance estimated at $125/month. D) Home Owners Association fee $435/year. E) Monthly note processing = $12.50/month. In all cases the owner financing is a full 25 year loan with no prepayment penalties and no balloon payments. There is no requirement to refinance, you only refinance if it benefits you. A homestead exemption will save you ~ $90/month in property taxes if you qualify. New federal law requires I qualify your income so you need to make twice the house payment plus other debt. You must be able to prove this income for the final sale using a licensed loan officer of my choosing. Available to U.S. citizens, green card holders, and foreign nationals (ITIN holders OK) Call me and we can discuss your needs. Matt Huber 832-630-6298
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