Did You know that conventional lenders have a calculation to determine the max rental credit allowed on a Lease to purchase option transaction?

Our lender partners will only give rental credit towards a Borrower’s down payment by using the difference between the market rent and the actual rent paid for the last 12 months.

The market rent is determined by the appraiser in the appraisal for the subject property so a rental analysis will be required.

A copy of the rental/purchase agreement proving at least a 12 months term along with 12 months of canceled rent checks is required.

Note:

The Borrower IS NOT required to make any minimum contribution from their own funds in order for the rental payments to be credited towards the down payment.

Any questions regarding a borrowers down payment, contact our office and we’ll connect you to a loan consultant who can help with answering your questions or concerns.

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