Lease to own first property in Portland OR, and use VA loan

3 Replies

Hello BP,

I am currently looking for a 2 or 1 Bed condo/home to lease to own in the Portland area. This will be my first property, and consequently I Plan to ultimately use my Veterans Affairs Loan that I received my eligibly letter for recently. I have some credit issues that i will be handling, in order use my VA loan, so i would like some advice on the possibility of a lease option first. I also would like to possibly house hack my first property being that I am single. I know the market is tough here, and being a Noob, i could be delusional about the lease option possibilities. But I have a solid income and I am single male so saving money and repairing my credit is more than attainable. So any advice would be awesome!

your going to have to find something that is picked over.. good properties will get leased to those with 750 ficos etc.. but if you find a non financable property that may work.. as you said pretty tough thing to do right now in this market.

Hey David, 

Have you reached out to a lender and had them check to see where you'd actually fall using your VA loan? You might be surprised at what you can qualify for (and then run that by your own figures to make sure you can afford it). The amount might let you cut out the middle man of a lease option and all the other steps in order to just get a regular VA loan. It's worth a few phone calls.

From one vet to another, thanks for your service. 

Mathew

Hey Matthew,

I might have an off Market lease option deal you might be interested in. 

Send me a PM if you haven’t found anything yet!

Cheers!

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