Can Lease Option Sellers Qualify For New Mortgage
You, a non licensed third party, can not 'help' the Seller get a mortgage. (A) You have no license. (B) You likely are not up to speed on all the details that it takes to get a loan. That Air Max
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To some degree, it sounds like both are wrong. You can do it. And it has nothing to do with your Air Max 95 Safari Pack Mortgage Broker, the MB is not the Borrower who has to qualify for the Air Max Duck Camo
I just learned today that many times if a SELER on a lease option deal leases their house out on a option to an investor., is now NOTin the POSITION to QUALIFYfor a new MORTGAGE on a new house he can move into.
loan. The Borrower (You?/Seller?) is.
I would appreciate some honest feed back on this issue. The core question it seemsis straight forward, so I am going to skip over some of the confusion of who is who and who is saying what and what they said.
The lease option contract is treated like a rental agreement. The gross income will be discounted, typically to 75% and used as income. That income will be aggregated with all other income, properly accounted for and used to offset Nike Air Max 2012 Womens Sale
is guru talk.
In a simple statement, there is no reason a Lease Option Contract would disqualify you from a futuremortgage, if you can afford the future mortgage.
the Borrower's liabilities. Provided the Borrower is within the acceptable range of Debt to Income, they can qualify for a loan. Obviously other ideas can apply such as reserves, credit and others.
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