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Mortgage Brokers & Lenders

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Tori Manuel
  • Investor
  • Gilbert, AZ
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Mortgage Broker with Lease Options experience

Tori Manuel
  • Investor
  • Gilbert, AZ
Posted Sep 9 2019, 11:30

Hello,

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!

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Christopher Phillips
  • Real Estate Agent
  • Garden City, NY
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Christopher Phillips
  • Real Estate Agent
  • Garden City, NY
Replied Sep 10 2019, 10:31

@Tori Manuel

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.

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Tori Manuel
  • Investor
  • Gilbert, AZ
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Tori Manuel
  • Investor
  • Gilbert, AZ
Replied Sep 10 2019, 13:06

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.

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied Sep 10 2019, 15:05

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.