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You pick the house in an approved subdivision. The subdivision must be in the upper 50% rating of school county districts.
You secure the home with your first and last month’s agreed upon rent and purchase price before the Investor purchases the home.
Institutional Investor purchases the home through Fastrak Realty
Build your credit over the next 12-24 months, or if you’re just moving into the area and aren’t sure where you want to live but don’t want to live in an apartment.
You can purchase the home using one of the Down Payment Assistance programs in the next 12 months to 24 months.
OR you can rent the house at least 24 months with documented Bank Statement proof of on-time rental payments, (24 cancelled checks, or 24 money orders or 24 months automatic ACH drafts).
Credit scores and Fannie Mae guidelines allow you to qualify for a Conventional Mortgage to obtain the 0% Down Payment option and use your two months Security Deposit for Closing Costs. 0% program is based on the Fannie Mae Conventional mortgage loan guidelines.
New Homes may possibly be eligible depending on the Builders willingness to accept the State of Florida standard Real Estate Contract.
Minimum Rent-to Own FICO Score at the beginning of the process is 575 FICO.
Debt to Income ratio maximum is 45%.
Minimum Household verifiable income is $50,000 per year.