Anonymous
Anonymous asked in Business & FinanceRenting & Real Estate · 1 decade ago

does anyone know about a program where you can buy a home after renting it for a year?

we are trying to buy a peice of property with a large newer single wide mobile home, but i have no credit it has about 7 acres of good ground fenced in,i have a good job for the state of ky., i just got divorced and everything before was in my husband's name.

PLEASE HELP IF YOU CAN

JACKIE

4 Answers

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  • 1 decade ago
    Best Answer

    I am a mortgage broker but have no lenders for financing a single wide as our loan amount can't be lower than $100k

    I do know 21 Mortgage Corporation finances singlewides.

    They are based in Kentucky or Tennessee.

    Email me for the phone number at:

    jdw222_001@yahoo.com

    Sincerely,

    James Wright

    Source(s): experience
  • 1 decade ago

    I rented a place for a year from a friend of my dad's. Technically, all we did was a one-year lease with option to buy (with a loan, not cash). Basically, you just have to be straight with your landlord/landlady: "I wanna buy this place, but here's why I want to rent it for a year first." Why do you want to rent it at all, if you know it's what you want? That's what I'd ask; have a good answer. And have some good references; the more people who think you're cool, the cooler you'll seem. Hope that helps.

  • 1 decade ago

    Sorry, Jackie. The home you live in is a single wide, and in order to secure a mortgage on it, it would have to be on a permenant foundation.

    Source(s): I am a Residential Mortgage Specialist with American Home Mortgage licensed to lend in all 50 states.
  • 1 decade ago

    You may want to look into "contract for deed" arrangements-not highly favorable but may fit your need. good luck.

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