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1.
Why
are you considering buying a home on a contract for deed vs. a mortgage?
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A mortgage is the goal when financing a home, but circumstances can delay the ability to qualify for months or years
Credit Issues - Low scores, recent bankruptcy/foreclosure/short sale, etc
Income issues – self employed with a lot of tax write-offs, volatile income sources, new income sources, fixed income, etc
Debts – high debt balances, student loans, past due child support/separate maintenance, etc
Divorce – pending or inevitable and the process may not be over quickly
e.
Other - please elaborate in #6 below
2. What is your price range?
We may be able to go slightly below $250k with minimum down payment of 15%
Less than $300k
$300k to $400k
$400k to $550k
$550k to $750k
$750k+
3. How much do you have available for down payment?
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Down payment funds are usually documented for 2+ months in your accounts or come from equity on the sale of your current home. Gifts from family members, retirement account withdrawals are acceptable as well. If unusual source, please document in #7 below.
$30k is the minimum down payment to qualify
$30,000 to $50,000
$50,001 to $75,000
$75,001 to $125,000
$125,001 or more
4. What is your
maximum comfortable
monthly house payment (including property taxes, homeowners insurance and association dues)?
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Its extremely important that your maximum comfortable house payment, along with your other payment obligations, are inline with your income
$1500 to $2000
$2001 to $2500
$2501 to $4000
$4001+
5. How long until you expect to payoff the contract for deed?
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What is your 'exit strategy'? Our program is intended for up to 5 years....and there are great premium discounts if the contract is paid off within 4 years. Your mortgage lender may be able to help assess this also.
Qualify for a mortgage in less than 1 year
Qualify for a mortgage between 1-3 years
Qualify for a mortgage between 3-5 years
6. Where would you like to purchase a home?
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Although we target the 7 county metro area, we can stretch to Wright, Sherburne and Chisago counties with 15-20% down payment. Other areas of Minnesota may be acceptable if the property is lakefront.
Anoka county
Carver county
Dakota county
Hennepin county
Ramsey county
Scott county
Washington county
Wright, Sherburne, Chisago counties
Minnesota, but outside the metro
NOT in area's above
7. Any additional information that will be helpful
What is your Realtors name (if you have one), recent self-employment, recent bankruptcy/foreclosure, tax debts, judgments, contingent on sale of current home, timing for when you want to purchase, pending divorce/litigation, etc. Include any specific geographic needs here as well (city, school district, etc.)
Your preferred email
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First name
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Last name
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Phone number
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