Work For Equity Program

Work for equity program is very simple. If we have a property that needs repairs and you are willing to do the repairs yourself or hire someone to do them. We will give you a discount of the purchase price and monthly rent until you can qualify for traditional bank financing. In a nut shell you’re purchasing the property under the lease option guidelines but at a discounted price. The discount will depend on how much work is needed.

For example if we are selling a house for $80,000 dollars but it needs some work. Normal rent would be $1,000 per month and $3,000 option to buy. We could work out a purchase price of $70,000 and a monthly rent amount of $800, along with an option price of $2,000. That’s a $10,000 saving on the future purchase price, and a $200 savings on monthly rent.  Along with $1,000 savings on option fee.

To quality for this type of financing the Borrowers must have 1 year of work history, Bring Home 3 times the monthly rent. Can afford an option fee and the first month rent, and borrowers must have no evictions or bankruptcies in the past 3 years.