Looking for Housing:Rent,Rent to Own,Contract for Deed,Home Loan

(My Original Blog Post: http://www.minnesotainvestors.com/blog/looking-for-housingrentrent-to-owncontract-for-deedhome-loan/)
FUTURE
A: Looking for housing
1. Looking to Rent
1st month's rent + deposit, available date to move-in, monthly rent, min bedrooms, cities, housing type
2. Looking for a Rent to Own
1st month's rent + option money 3%+, available date to move-in, monthly rent, min bedrooms, cities, housing type
3. Looking for a Contract for Deed
5% down minimum, 10%+ encouraged, available date to move-in, monthly payment, cities, housing  type Often you can refinance into a loan after 12 months of on-time payments
4. Looking for a Home Loan
LOAN PROGRAMS:
-FHA
-FHA 203K (For rehabbers, provides extra repair money)
-VA
-Conventional
-HomePath (Owner Occupied and Investment - can have up to 10 invest properties!!)
-Manufactured and Modular Homes
-Rural Development

*Alternate Credit Sources*
-580+ credit Score
-12 month's into chapter 13
-2 years from ch 7 discharge
-3 yrs from Sheriff's Sale
-12 month's Verifiable Rent (cancelled checks or Verification Form from managment Company
-Insurance Bill - letter from Agent of 12 month's on time payments
-Utilities - letter from Company of 12 month's on time payments

*580+ Mid Credit Score*
*580+ Mid Credit Score*
580-619 Guidelines:
-12 month's Verifiable Rent Payments - On time
-3.50% of Purchase Price in Seasoned Funds (must be in your bank account, 60 days+)
-2 Open Trade Lines (active accounts) on your credit bureau reports

Pre-Approval Checklist
Employment
____ Name, address and phone number of employers for the past two years
____ Copy of pay stubs for the previous 30 days
____ Copy of last 3 years w-2/1099 forms
____ Copy of last 3 years complete federal tax returns with all Schedules)

Self-employed
____ Copy of last two years tax returns (personal and corporate);
____ year to date P&L and Balance Sheet through the most recent quarter, must be certified by Accountant/CPA

Liabilities
____ Name and account numbers for all revolving and installment accounts
____ Name and account number for all mortgage loans for the previous two years
____ Name and address for landlords for the previous 3 years

Assets
____ Name, address, and account number for all bank accounts
____ Name, address, and account numbers for all brokerage accounts
____ Copies of statements covering last 3 months on asset accounts
____ Copy of most recent statement for 401K, Savings Plan, etc.

Miscellaneous
____ Copy of driver's license and social security card
____ Copy of fully executed divorce decree if applicable
____ Copy of fully executed child support court order if applicable
____ Copy of signed earnest money contract
____ Copy of lease agreements on rental properties.  must have 2 year history reflected on Taxes to use Rental/Border income
____ Veterans! Copy of DD 214 and Eligibility Cert. if you have it, if not need Company Clerk contact info
____ Check for the cost of your credit report and appraisal

CONTACT ME:

Email subscribers- Go to any of these sites, to get info by email: RonOrr.com,
RenterLeads.com , RentToOwnBuyers.com , Contract4Deed.com , HomeLoansMN.com ,
MinnesotaInvestors.com, SellMnHouse.com, OverFinanced.com, BankOwnedForeclosure.com

Scenario's can be emailed to: ron@minnesotainvestors.com

Phone: 763-634-1766-These calls will be answered by a loan officer and a buyer's agent

Please answer these questions on your first Voicemail/Email
1. Credit score of everyone on the loan
2. Last Bankruptcy, Foreclosure, or Short Sale for everyone on the loan
3. How long consistent work for everyone on the loan
4. Monthly payment you can afford
5. Total money available you have
6. Your desired move-in date