Portland, OR · Member since 2017 · 8 posts · 3 votes
I am planning to move to central Florida next spring. I want to buy a home that I cant rent a room or two out off. Since I will be getting a new job I don't think I will qualify for a mortgage once I settle in. Would a rent to own property be a good idea? Are there other options? Should I wait until I can qualify for a mortgage and get a FHA loan or search for a bank that might take a chance?
I will have enough for a down payment on a home between 80-105k. I really want to get started soon.
Welcome to BP! A rent to own is not necessarily a bad idea, but I would understand what I am agreeing to. It might be a better option to rent for a year or two, learn the area, and decide where you want to purchase.