The Dream America Program is just for people with bad credit, right? WRONG.
Clients that are mortgage-ready but need to sell their current home before they can buy a new house love Dream America. Why does that happen? One of the criteria every mortgage lender looks at is a borrower's "debt to income ratio". To calculate this, they add up your monthly payments - mortgage, car, credit card, etc and divide it by your income. If you don't have enough income to support two mortgage payments, lenders will tell you to sell your current house before you buy a new one regardless of how good your credit score is.
Trading up? Downsizing? And want to know where you are going. Unlike other rent to own home companies, Dream America has a solution!
Go find your new house, Dream America will buy it and lease it back to you until you sell your current home. And with no minimum rental period and 10% of rent paid credited towards your new purchase, you are in control of the process.
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