Your monthly mortgage payment typically includes principal, interest, property taxes, and homeowners insurance (often abbreviated as PITI). Depending on your specific purchase, it may also include private mortgage insurance (PMI), homeowners association (HOA) fees, or other costs. The monthly payment is determined by the seller and commonly ranges from $3,000 - $4,000/month. 

You and the seller will determine the terms of your agreement specifically-- you will likely pay monthly to the seller (with monthly savings accumulating), while you acquire traditional fianancing and fully purchase your home in 1 year. You can view this as a partner-owner until you can become the full owner. 

As a partner-owner, you will be responsible for maintenance and repairs, as well as utilities and lawncare. The seller will be responsible for homeowners insurance, HOA dues, mortgage payment, property taxes, mortgage insurance, principal and interest. 

Closing costs are fees associated with finalizing your home purchase, when you finalize acquiring financing. These typically include loan origination fees, title insurance, appraisal fees, and more. They typically range from 2% to 4% of the home's purchase price. Some costs may be negotiable, and in certain cases, sellers may agree to cover part of them.

Low credit or no established credit may be acceptable.

1) Find Your Home from our list of available properties that may qualify for a lease-to-own arrangement.
2) Move In. Complete the required agreement and upfront payment, then begin living in the home.
3) Prepare for Financing. Use the lease period to work toward qualifying for a mortgage.
4) Purchase Your Home. Once financing is secured, complete the purchase according to the terms of your agreement.

There's a plethora of people this could be a great fit for-- we often see this work great for buyers with limited credit history, less-than-perfect credit, or those who need additional time before qualifying for traditional mortgage financing.

Your monthly mortgage payment typically includes principal, interest, property taxes, and homeowners insurance (often abbreviated as PITI). Depending on your loan, it may also include private mortgage insurance (PMI) and homeowners association (HOA) fees are not included in your mortgage payment. 

Your loan officer will inform you if a home you're interested in buying qualifies for this loan specifically. However, the address does have to fall into one of these counties prior to qualifying:

Dallas County
Tarrant County
Collin County
Ellis County
Grayson County

Closing costs are fees associated with finalizing your home purchase, including loan origination fees, title insurance, appraisal fees, and more. They typically range from 2% to 4% of the home's purchase price. Some costs may be negotiable, and in certain cases, sellers may agree to cover part of them.

Your credit score plays a significant role in determining your mortgage rate. A higher score typically qualifies you for lower interest rates, which can save you thousands of dollars over the life of your loan. If your score is lower, you may still qualify for a loan, but at a higher rate. This loan has a minimum credit score requirement of 640. 

Buyers who are financially prepared for homeownership but don't have a large down payment saved, as well as qualifying borrowers who have limited or no traditional credit history.