PURCHASE A HOME WITH NO MONEY DOWN!
down payment assistance program helps a home buyer who lacks the
down payment, purchase a home that they will not be able to purchase
on their own. In many cases, Resident Co-owners have purchased
a larger home than they expected and still had monthly payments
well within their budget. Investors may also help the Resident
Co-owner with loan payments, maintenance expenses and taxes (negotiable
between the parties).
PARTICIPATE IN FUTURE APPRECIATION OF THE PROPERTY!
a Resident Co-owner (RECO) you are entitled to participate in
all future appreciation of the property (Renters have no participation
in any appreciation of property).
COMPLETE MANAGEMENT OF YOUR HOME!
you are a Co-owner you will have complete management rights of
YOU CANNOT BE EVICTED!
a Co-owner you have the protection of a long term contract and
you cannot be evicted without cause.
ENJOY LOAN INTEREST WRITE OFF!
are entitled to a 100% write off of the loan interest you pay
(Renters have no such benefits).
PAYMENTS CANNOT BE RAISED!
you have a long term contract which specifies the monthly payments
up front your monthly payments cannot be raised. The only exception
is if you agree to a variable rate loan. However, this cannot
be done without your complete understanding and approval beforehand.
RESIDE IN A HIGHER PRICED PROPERTY THAN PURCHASING ON YOUR OWN!
on how much equity the seller / Investor is willing to leave in
for your benefit, it is entirely possible for you to move into
a home with a much higher value than you could purchase on your
OPTION TO BUY OUT THE INVESTOR CO-OWNER!
the term of the agreement, you will be entitled to a percentage
of the profit from the sale of the property. It is entirely possible
to acquire savings from loan interest deductions, a percentage
of the reduction of the loan, your percentage of the appreciation
over the term of the agreement, and personal savings to either
buy out the Investor Co-owner or purchase another home.
CREATE A STABILE FAMILY ENVIRONMENT!
you have a long term agreement, you can offer your family a stabile
environment. Children can go to the same school and maintain the
same friends. With your option to purchase the property at the
end of the agreement the stability factor only gets better (You
cannot bet on this happening if you are a renter).
ENJOY A SENSE OF ACCOMPLISHMENT!
are very few things that make an individual more proud than to
own their own home. There is a tremendous sense of independence
and accomplishment accompanying home ownership. A refuge after
a hard days work and stability knowing that no one can force you
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Steady Employment History
Decent to Good Credit History
Income to Qualify
Satisfactory Income to Debt Ratio Limits
Desire to Own Your Home (not a Renter’s mentality.)