Lease to Buy Alert! Did you know that only the amount of money paid over the fair rental value can be used towards a down payment for FHA and Conventional loans? Ask me questions before you lease or buy!
Related Article Title: Fannie Mae and FHA – Lease to Buy Credit – How can a client use the rent paid on a lease to buy an option agreement for a down payment? Answer: You will need: Evidence that the borrower was paying over market rents, and only that amount will be allowed. For example: […]