Tenants – Our Goal – is to help you cut your Monthly Payments in Half
Soft Credit Check vs Hard Credit Check – Our process starts with a Soft Credit Check to see if you have the potential to have your credit fixed in 2 years or less so you can qualify to purchase. This is Free, quick, short, easy, and must be done before viewing any properties or filling out any of our Free Rental Applications. We only do Lease-To-Own Rentals at NH Big Inc. not standard Rentals. If we find you do not have the potential to fix your credit in 2 years or less you will not be accepted for our Lease-To-Own program. You can continue working with our Mortgage Brokers on your credit repairs so you can eventually qualify. You should call or text Dan Ringwald 805-680-2440 cell first so he can group text you and our Mortgage Brokers to get this process started.
Soft Credit Check – by – Kam Zarnegar
Mortgage Broker – 818-822-2492 Cell
Covering West Coast – CA, NV, OR, WA
Ascent Financial, Inc.
Certified Mortgage Consultant, CMC
17609 Ventura Blvd. #208
Encino, CA 91316
Kambiz Joshua Zarnegar (Kam), has been a commercial loan officer for over 24 years (since 9/22/1989). Kam earned National Association of Mortgage Brokers’ (NAMB’s) highest designation, “Certified Mortgage Consultant” (CMC), in 2008. This included passing a comprehensive commercial and residential financing exam. At the time there were only 44 mortgage professionals with that designation in entire California. Kam also has an excellent Credit Repair company he can direct to you if needed.
Gary McNeal will review the “Financial Five” – credit, debt to income ratios, liquid assets (reserves), cash flow (residual income) and job and residency history. His action plan to clients addresses these five issues plus public records (bk,foreclosures, short sale ). MAP…mortgage assurance program.. developed by Gary…is a buyer financial evaluation, instruction, monitoring and reporting system to prepare and ensure buyers will become qualified for traditional financing in a specific time frame. Contact Gary McNeal to confirm the cost which is approximately $500.00 and can be paid at a rate of $25 per month. You can quick start the process by paying $100.00 on your first payment if desired. The full cost of this will be paid back to you at the close of escrow, if and only if, you purchase your rental.
Craigslist / Internet Scams – We understand the number one fear for everyone is being conned or scammed. You can rest assured this is not one of those. You always need to do your due diligence on people and companies before you start working with them. When you work with us you will sign your Rental Lease Agreements, Lease-To-Own Agreements, and Purchase Agreements, at our local Attorney’s Office / Property Management Office / Contractor Office / Escrow and Title Company – which will be just a few miles away from your Rental Property.
Bad Credit – No Problem – We can help you Qualify to Purchase through our Lease-To-Own program in 2 years or less! NH Big Inc. is no longer doing standard rentals. We do Lease-To-Own rentals only. The good news is we take partial payments on your Lease-To-Own down payment deposit which goes into a separate NH Big Inc. savings account at Wells Fargo Bank for each individual rental. Partial Lease-To-Own payments mean you can move in for about the same amount as standard rental, 1st month’s Rent and the Lease-To-Own deposit equal to or a little more than the 1st month’s Rent. Example – $800 Rent and $3,000 Lease-To-Own Deposit. Say you put down $1,000 on the Lease-To-Own Deposit that leaves $2,000 divided by 10 months of payments is $200 per month plus $800 Rent is a total of $1,000 per month. In some cases, depending on our Investors, we give you 2 years and take $100 from your $800 Rent which adds up to $2,000. That make your Lease-To-Own about the same as a Standard Rental so if you decide not to purchase it about the same as walking away from any Standard Rental. You always have the Option to Purchase but are not Required to Purchase. Our Investors have NO Option Sell they are required Sell if you decide to Purchase. As you can see the more you put down on the Lease-To-Own Deposit the less you pay per month on that. Also the more you put down on the Lease-To-Own Deposit the more likely our Investor will select you as their new tenant. Cutting your monthly payments in half is well worth the effort which is why they call homeownership the American Dream. If you don’t plan on staying there for 30 years you can have it be your rental and bring in extra income each month or just sell it for a profit.
Lease-To-Own Deposit Amount – for each rental is about 3% of the sales price which is exactly what is needed by the mortgage companies as the down payment for purchase. Although our Investors help in the beginning during the rental process by having purchased the house, fixed it up, and pay for all expenses we don’t let them be the bank when you purchase. Why? Because they usually want 8 or 10% interest and that will not cut your monthly payments in half. We get you qualified with standard lenders for lower rates like 4% so you actually see your monthly payment cut in half once you purchase. That is a win-win for everyone! Once you qualify we will move on to the title/escrow company and mortgage company and complete your purchase and you are then locked in and protected for the next 30 years to never have your payment go up. During your Lease-To-Own our investors will still be paying the Taxes and Insurance.
Your Credit Score Isn’t Affected by These 5 Factors – When it comes to qualifying for a low-interest loan repairing your credit is easier than most people think. No Credit is easier than bad credit. Very high debt and very little income might be the biggest problem. Bankruptcy, Chapter 7, 11, 13 are changing but not impossible given enough time has passed. Our Investors are even willing give you $5,000 at the close of escrow to spend on whatever you want if you have paid rent on time, help with keeping the rental in good shape, and followed all Rental Lease and Lease-To-Own agreements.
Owner Financing – Will someone else qualify you for a loan to purchase, even though you have bad credit, below 640 ? The answer is YES, and it’s usually called Owner Financing but you wouldn’t want the loan because the rate will be too high, like 8 to 12%, and that will not cut your payments in half each month. It might even raise your monthly payments. Investors love to do Owner Financing because it makes more money for them. Some Buyers love it because they get to own a home when no one else will qualify them. Eventually they come to understand what it is really costing them. This approach is too risky because you are locking into a 30 year loan at too high a price per month and possibly to high a price on purchase which means you can’t even sell the home. You would still need to get your credit up to 640 or better to refinance into a good loan that would truly cut your monthly payments in half and you will have the cost of insurance, taxes, and repairs. NH Big Inc. refuses to do these type of loans with our Investors and our Tenants. If we can’t truly help our Tenants become financially successful we will not throw them to the sharks. The truth is they will be better off renting until they fix their credit and get a good loan fixed for 30 years that actually cuts their monthly payments in half.
How Much can you Save – Whatever you are paying for Rent you could be paying half as much per month to Own. Given current interest rates, if you were paying $800 per month rent, you could be paying $400 per month to own, with little to no money down. Figuring the savings $400 per month x 12 months = $4,800 per year. When you factor in the tax write off on interest payments you might receive an additional $2,000 at the end of the year which makes it about $7,000 saved in your pocket each year. That is about $700 per month savings depending on your current rental amount. Taxes, Insurance, and repairs might eat up about $2,000 of that per year which still leaves you with $5,000 per year. That is much better than renting and your home will appreciate in value over time.
www.Credit.com – This is a good place to start figuring out what’s up with your Credit. Go there and sign up for a free account. Once you get your free account you really should get back to me and give me access to it so I can see where we are and make suggestions on what you need to do. My access to your account information is way less information than what you will be giving to any lender and how much help will they actually be providing you. Not nearly as much as I will. They might help you track where you are and where you need to be if I am contacting them too and pushing them along. If I see they are not doing much I will find someone else in their company or fire them and hire another local Credit Union to work with us. You actually only need about a 640 credit score to qualify for a loan and maybe $2,000 down payment. Our Investors are willing to take off about $5,000 on the actual appraisal price. If the Credit Union appraisal came to $60,000 our Investor sale price would be $55,0000. That makes up for your $2,000 down and leaves $3,000 in equity. The important part is, you just cut your monthly payments in half.
Are You Pre-Qualified or Pre-Approved? – There is a big difference. This is a very detailed article for helping you understand what it takes to get a Good Loan that will cut your monthly payment in half. If you don’t take time to read this and sign up for a free account at www.Credit.com you will not cut your monthly payment in half. Yes, this effort takes time but would you really rather just go work longer and harder for more money to pay high rent just so you don’t have to spend the time reading this information and freeing up some of your time while making an extra $7,000 per year or more.
Insurance – Some of our Tenants have requested to get a $100,000 Life Insurance Policy through one of our company contacts to have their rental property paid off free and clear if one couple passed away leaving about $40,000 extra after paying off the house. This cost can be anywhere from $27 to $85 per month depending on the Tenant and their Insurance requests.
Paying Rent – If you are paying your rent through one of our property management companies you are on a Rental Lease Agreement which requires you to continue paying through the property management company as usual. If you are paying rent directly to us we have some options to consider. Our Investors will not accept anything in the US Postal mail like paper checks, cashier’s checks, or money orders. It takes too long and if it is lost in the mail it could be months to fix that problem.
Rental payments – must be made electronically through our site at NHBig.ManageBuilding.com and here is a Video 1 and Video 2 on the process. Our site will let you pay via EFT – Electronic File Transfer – from your checking accounting to ours with NO FEES. If you need to use a credit card, debit card, or prepaid credit card you can do that at our site as well and it will automatically include credit card fees and add them up for you along with any late fees. Your Rental Lease Agreements states the monthly amount of your rent which is what our investors expect, not some reduced amount due to credit card fees. We Also have Bank of America and Wells Fargo Bank tha will accept cash deposits if you walk into either bank with the correct information which you can arrange with us in advance.
Your Bank – they might have ways of doing electronic transfers or email or cell phone text payments with no fees. We can provide you the information needed to work with your bank on these type of payment options.
Contact Dan Ringwald – We will help you find a way that best works for you to reduce the fees on Rental Payments and we can answer questions on cutting your monthly payments in half or Life Insurance for paying off your rental in full with money left over as well. My time for working with you is FREE and I don’t care if you call me 5 times a week until we get there. Your success is our success too. As you can see we are success driven. You have made a wise choice working with us. We will make sure you succeed too, if you are willing to see the opportunity, and take action on it.