FHA LEASE-TO-OWN PROGRAM
This game-changing program creates a path to homeownership for a borrower that may not qualify for a standard agency mortgage!
PROGRAM OVERVIEW:
In cooperation with FHA and a non-profit, Coastline can help customers access homeownership through an affordable long-term finance agreement. This partnership allows customers time to get mortgage ready with an equitable title. In addition to helping the borrower achieve homeownership, this program also has the added benefit of being a traditional settlement from the seller and agent standpoint!
DETAILS:
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3.5% down from the borrower and up to 6% seller credit allowed towards FHA closing costs
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FHA Long Term 40 year amortization
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Gift funds are allowed (and may be from anyone, not just family or an employer)
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No seasoning requirement for deposits
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Credit score & credit report requirements vary based on borrower’s situation
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W2 employees or those who are self-employed may qualify
BENEFICIAL TO:
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First-Time Homebuyers
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Self-Employed
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1099 Workers
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Those Who are Relocating
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Those Starting a New Job
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College Graduates
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Those Burdened with Student Loans
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ITIN/DACA Recipients
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Those with Credit Issues Preventing Mortgage Approval
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Those Who are One Day Out of Foreclosure or Bankruptcy
CURIOUS IF THIS PROGRAM IS THE RIGHT FIT FOR YOU? LEAVE YOUR INFORMATION BELOW AND ONE OF OUR EXPERIENCED LOAN OFFICERS WILL REACH OUT TO HELP GUIDE YOU!