What is a Rent-Back?

Rent-back, or leaseback, refers to an arrangement whereby the buyer, who is now the new homeowner, agrees to allow the seller, the now-tenant, to stay in the house beyond the close of escrow. All of the terms are negotiated between the two parties prior to the situation & will almost always involve a lease deposit, a daily rental rate & also a length of time to be stated.

What is a FHA 203k Rehab Loan?

This is a “fixer-upper” loan, which combines the mortgage loan with a loan to help pay for repairs or updates. It is not intended to lend based off of luxury upgrades such as adding a swimming pool or tennis courts.

Google Review 1/22/2021