Rent To Own Application

 

Congratulations on taking a step down the Path of Homeownership. Knowing that you can qualify for a mortgage loan at the end of your lease option period will give you peace of mind. There are several factors that are important to consider. An expert will look at the following aspects of your household and evaluate your ability to qualify for a loan today, and sometime into the future.

  • Income - Do you make enough money to make your mortgage payments and pay your other obligations?
  • Assets - Do you have enough reserves to close on a mortgage and meet lender requirements? How will rent credits improve your cash reserves?
  • Credit Score- This defines what loan program you can qualify for with your current score, and what credit repair solutions are needed to improve it for the future.
  • Employment - Do you have a stable employment history?
  • Residency - How long do you stay in one place before moving on?

Your Credit Score


Once we know your credit score we can use the following chart below, as a guideline, to understand your qualifications from a credit perspective today, and what needs to be improved or repaired during the lease option term.

  • 600 and up - 100% financing is available.
  • 580 to 599 - 95% financing is available.
  • 550 to 579 - 90% financing is available. The owner may carry a 10% second private mortgage to allow 100% financing in lieu of you putting down 10%.
  • 500 to 549 - 75% financing is available.
  • Below 500 - financing is not available. Work with a reputable credit repair company to improve your credit.

The above scores are primary guidelines and will determine your loan eligibility based on credit. Credit alone will not be enough however. It is important to have a professional review your entire financial situation, and evaluate your current and future mortgage ability on all the factors - income, assets, credit, employment and residency. Only a professional knows if items like outstanding collections, judgments, bankruptcies, tax liens or other credit items will affect your overall short and long-term ability to qualify.

Take the first step down the Path to Homeownership and allow our team of expertís to analyze your information in an attempt to realistically project the timeframes and qualifications necessary for you to become a true Homeowner.

Should you decide that you wish to take advantage of our FREE Pre-Qualification, simply complete the attached confidential Rent to Own application.

Borrower Information:
 
Borrower (Full Name):
Date of Birth: (ex. dd/mm/yyyy)
Soc. Security #:
Residence Phone #:
Business Phone #:
Present Address:
City:
State/Province:
Zip Code/Postal Code:
E-mail Address
Years at Present Address:   Rent $  /month
or Own $
 
Previous Address:
City:
State/Province:
Zip Code/Postal Code:
Marital Status: Married
Separated
Unmarried (including single, divorced, or widowed)
   
Occupation:
   (Position & Title)
# of years:
Place of Employment:
  (Name & Address)
Previous Employer:
   (Name & Address)
Co-Borrower Information:
 
Co-Borrower (Full Name):
Date of Birth: (ex. dd/mm/yyyy)
Soc. Security #:
Residence Phone #:
Business Phone #:
If same as borrowers address
Present Address:
City:
State/Province:
Zip Code/Postal Code:
E-mail Address
Years at Present Address:     Rent $  /month
or   Own $ 
 
If same as borrowers address
Previous Address:
City:
State/Province:
Zip Code/Postal Code:
 
Marital Status: Married
Separated
Unmarried (including single, divorced, or widowed)
 
Occupation:
   (Position & Title)
# of years:
Place of Employment:
   (Name & Address)
Previous Employer:
   (Name & Address)
Gross Annual Income:
 
Borrower Co-Borrower
Self-Employed ? Yes    No Yes    No
Base Salary: $ $
Overtime: $ $
Bonuses: $ $
Commissions: $ $
Dividends: $ $
Net Rental Income: $ $
Other: $ $
 

Total: $ $
 
Do You Intend To Occupy This Property ?    Yes     No
Number of Children:
Ages:
Other Dependents:
 
Assets:
 
Checking: $  Bank:
$  Bank:
Savings: $  Bank:
$  Bank:
Credit Union: $  Bank:
Stocks: $
Bonds: $
Life Insurance: $
 
Present Residence  (If Owned):
Market Value: $
Morg. Value: $
Lender:
 
Other Assets (Specify):
 
Liabilities:
 
(List outstanding obligations including auto loans, mortgage payments,credit cards,
personal loans, and all other loans.)
 
Type Creditor's Name Unpaid Balance Due Date Monthly Payment
$ $
$ $
$ $
Total:   $ $
 
Additional Monthly Obligations:
Alimony:  $
Child Support:  $
Child Care:  $
 
Are There Any Judgements or Lawsuits Present?   Yes    No
Amount:  $
Is Any Part of the Down Payment or Settlement Costs
Being Obtained From a Source Other Than From Assets
Listed Above?
  Yes    No
I hereby give my consent to have my credit report secured
from any credit reporting agency which you designate.
  Yes    No
    
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The Andrew Silverberg Home Selling System
Structure Realty, LLC 5 Choke Cherry Road, 3rd Floor Suite 360, Rockville MD 20850
Phone: 301-610-0026 Fax: 240-627-4111
Andrew@structurerealty.org