Transition to Homeownership with Ease

Maine Mortgage Solutions offers a Lease-Purchase Mortgage Program designed to help borrowers transition seamlessly into homeownership. This program provides a flexible and accessible pathway for individuals who are currently leasing but wish to purchase their home.

Key Features of the Lease-Purchase Mortgage Program

  • Flexible Credit Requirements:
    • Credit scores starting at 620 are accepted.
  • Appraised Value Benefits:
    • Loan-to-Value (LTV) is based on the appraised value versus the purchase sales price, allowing borrowers to benefit from equity growth.
  • High Financing Options:
    • Ability to borrow up to 100% of the sales price, depending on the appraised value.
  • Rent Verification:
    • Must provide canceled rent checks as proof of payment.
  • Primary Residence Requirement:
    • This program is available for primary homes only.

Eligibility and Requirements

  • Lease Agreement:
    • The lease-purchase agreement must have been executed over 12 months ago to utilize the appraised value.
  • Loan Amounts:
    • Loans available up to $3 million.
  • Title Transfer:
    • Title must be transferred to the borrower at closing.
  • Purchase Only:
    • This program is for purchase transactions only.

Why Choose Maine Mortgage Solutions?

At Maine Mortgage Solutions, we are committed to providing innovative mortgage products that meet the diverse needs of our clients. Our Lease-Purchase Mortgage Program is designed to help renters transition into homeowners with ease and confidence. We offer personalized support and expert guidance to ensure a smooth and successful homebuying experience.

For more details or to begin your application process, contact Mark Violette today!