I am looking for an investor friendly Mortgage Broker in Arizona (East Valley) who have done loans for buyers under a Lease Option Agreement. My flipping business primarily does assignments and wraps, but am incorporating lease options and seller financing in our deal structure options.
Know anyone? Thanks!
Lease options don't involve banks or mortgage brokers. An option is just a contract to lock in the purchase price. What you would need is a lawyer.
I have a lawyer to take care of the paperwork and contracts and an escrow/servicing company to handle the payments. But I want to work with a Mortgage Broker well versed in Lease Options to help prepare a tenant-buyer to get a mortgage in 1-2 years if they go into a credit repair program.
Not all Mortgage Broker's understand Lease Options that is why I am looking for one who have done loans for buyers with a Lease Option Agreement.
Qualifying for a loan on a lease option is no different than qualifying for any other loan....either they qualify when it’s time, or they don’t.