1. I don't see any homes on your list to fit my criteria, what should I do?
          You should come back to this website and check again in a day or two. Or better yet, sign up for our Automatic Email Notification and you'll never miss on a home because you forgot to check the website. With our e-mail updates you will be able to act immediately whenever a listing with your dream home is posted.

2. When I apply for a certain home, how do I know I'll get it, before someone else?
          As said before, just applying doesn't constitute a binding agreement. We had many occasions where buyers applied and communicated to us (through phone and emails) not once, but 2, 3, or 4 times, they wanted "that home" and we approved them for "that home", but these Buyers did not put an Earnest Money on the home. Someone else stepped forward, brought us the check - that was the end of story.

          The only way you can guarantee that a certain home is reserved for you is by putting an Earnest Money Deposit on that home. If you want the house, please remember to tie it up.

3. How long does it take to move into property?
          Usually in a few days, there are no lengthy escrows or mortgage approvals.

4. Do you perform a credit check, and what happens if I have a bankruptcy or credit problem?
          Yes, credit check is done in most cases. But things like bankruptcies, collections, being turned down for a bank loan or other credit problems are no concern to us in regard to getting you in one of our homes. We want to be familiar with your credit issues so we can better guide you to repairing your credit.

          If the credit is extremely bad, you can still get approved but we won’t be able to be flexible on your down payment, or in some cases we may require you to pay a slightly larger down payment.

5. How do I figure out what kind of a home I can afford?
          You have to determine how much per month you can afford staying in your comfort zone. Once you know the monthly payment you're comfortable with, you can figure out what kind of home price that would translate into by applying the 1% rule. "The 1% rule" says that your monthly payment will be about 1% of the purchase price of a home you're looking to buy. Example: if you can afford $1,000 per month, then you're looking at $100,000 to $110,000 home. If you can handle only $700 a month you know right away that a $100,000 house is too pricy for you.

6. Does the 1% rule still apply if I have a large down payment?
          No, in that case your monthly payment will be much less than 1% of the purchase price.

7. How can I buy a bigger home than the one I can afford?
          This is a trick question… But the answer is this, you buy what you can afford now, and a few years down the road you sell that home, take the equity (profit) you made and use it to purchase a bigger home.

          You can also continue saving, but chances are prices are going up faster than you can save, so in a few years you might not be able to buy even what you can buy today. It is always easier to make two small steps to get where you want, than try to make one big step.

8. How much of a down payment will I need?
          That depends on your monthly payment, gross income and the price of the home. However, a range can be as low as $4,000 or up to $20,000 for most of our homes. The rule of thumb is 5% for a Lease Purchase program and 10% for Owner Financing program. Remember, we accept borrowed funds and can give you up to 45 days to make the down payment.

9. What if I don't have 5% CASH to put down?
          As we said earlier, you can take advantage of our "Down Payment Assistance Program" where you can get into a home with as little as 3% down. You would qualify for this program if you have the ability to make extra monthly payments allowing you to build the needed equity during the lease term.

10. What happens with the down payment or "option consideration", do I lose it?
          At closing, your rent credit and option consideration are both applied to your down payment, or a reduction in the purchase price. So, it is 100% yours!

11. What is the next step when I decide to get my own financing?
          The first would be to contact the lender of your choice (or per our recommendation) and obtain your own permanent financing. Getting your own loan, after you've been on our program should be easy (see the next question). On some properties we can structure seller financing, so you'll never need to go to the bank.

12. I've been turned down for a bank loan so many times, is there any guarantee that I'll be able to get a bank loan?
          We can not guarantee whether you'll be able to get your loan or not, because we have no control over your finances, your employment, your debts, etc. You'll have to take care of that end, and make sure you pay all of your bills on time, from now on. But if you take care of that, we can almost assure you that getting a loan will be a "piece of cake", and here is why.

          Your lender is interested in the equity you have and in the history of payments you have been making. If you go for a loan for the house you have been living in, the lenders would want to see 5% to 10%, or more in equity, which you can easily have taking into consideration the down payment, monthly rent credits and the increase in the property value. Having all that equity will make getting a loan easy.

          They are also interested in your ability to make timely payments. They want to see a history of timely payments and the dollar amount you've been paying. For example, if you are going for a loan that will have a monthly payment of $1,500, your lender want to see a proof that you are capable of making such a payment. In other words, the lender wants to see that you were making payment close to that amount. So as you can see the amount of monthly payment is important.

          With our program you'll have a package with a careful documentation showing the equity you built, the timely payments, and the amount of payments you've been making. This package will have everything the lenders want to see, and documented in a way they like to see it, so you'll be able to get a "refinancing" loan and may even put some $$$ in your pocket at that time.

13. What happens if for some reason I still don't qualify for financing?
          When anyone whether they could qualify or not comes to the end of a term, they have several options. First, they can walk away from the property. This is not recommended at all, since you would lose the money invested, but certainly it is an option.

          Secondly, they can extend it for a second year until they have a sufficient credit history to complete the purchase. Extending for a second year wouldn't hurt, because at the end of the second year they would have even more equity accumulated. By extending it, the price and terms may be slightly adjusted according to the market, but all of your accumulated equity will be preserved.

          On some properties we can structure seller financing, so you'll never need to go for a bank loan.

14. Is your program really as good as it sounds?
          We are proud to say this program is unmatched by anyone in this area! It is the most complete package, from A to Z, where you get into your home on easy terms, but on terms that are acceptable to your future lender. We see a lot of people selling houses on Lease Purchase or seller financing, but in most cases, the deal is not structured in your favor so the buyers are not able to get financing and very often lose the deal. So it's not only the house you have to find, you have to look the whole package keeping in mind that one day you'll have to go for a bank loan. It has to be properly documented.

15. Should I buy a new car, or stop renting and buy a home?
          We'll make this to be the last question, and let you find the answer! Here are some quotes for you….

          "Real Estate is one of the only assets in the entire world that appreciates, or goes up in value reliably."

          "Most car models drop a third of their value in the first year and the vast majority are worth less than half their original price after three years."