How FSPI Can Help You Get Into A Home

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Stop Throwing Money Away on Rent!

Why lease when we make it easy to get you into your next home?  We have numerous home buying programs to help you realize your dream of home-ownership, regardless of your circumstances.  FSPI can also help you get your property financed.  We  work with many other real estate professionals.  So even if we don't have anything in our current inventory that is suitable for you, we might be able to set you up with someone who does.  To best help you, we need as much information as possible about your specific situation... To get started, please fill Out This Buyer's Needs Form.

FSPI's Home Buying Programs

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No Bank Qualifying / Seller Financing

Need us to finance a house for you?  ...Then it's a good thing we do that too!  You will need more of a down payment than needed for a Lease to Own.  There will be some taxes and insurance but you will own the house, get the tax advantages AND earn equity!  Most of our buyer's monthly payments are at or below market rent to purchase their new home.  Most sell for lower than their true market value so they'll have some equity built in.

Unlike banks, we give you the opportunity to explain gaps in employment, changes in career, previous bankruptcies or foreclosure and other dings to your credit.  Again, we are flexible and work with other creative and flexible sellers to get you into a home.

We have worked with many families who thought they would never be able to buy another home.  Sometimes they have obstacles to home ownership like self-employment, poor credit or previous foreclosures or bankruptcy.  We love giving families a Fresh Start!

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Handyman or Investor Looking For a Deal?

Many of our properties need a little TLC.  Most will be sold quickly at auction wholesale prices.  We love partnering with contractors or handy do-it-yourself owner occupants that have a vision for what could be.  Ones that are ready to take on a challenge.

We leave plenty of equity built in as an incentive to move our houses quickly.   You can get a really good deal on your next fixer-upper or rehab project.  These wholesale deals are usually for properties that we are "pre-selling", before rehabbing, or early in our renovations.  Investors or Handymen come make us an offer to get your next project for cheap!  We'll even finance your deal for you!  What more could you ask for?

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Want to Rent to Own?

If you find it difficult to make your lease payments AND save up for the kind of down payment banks require, this is the program for you!  It works great for people who aren't prepared to fully commit to a house, area, or school district or who want to lock in a price on a house to avoid inflation. 

It also works for those who are moving from another state or house who can't qualify for traditional financing until they sell another house.  Or when they need time to increase income, pay down debt or clean up their credit.

Using this program, we offer a proven way to beat the lenders' system of "get your money first and live in your home later."  We'll let you move into one of our homes now and give you up to 3 years to arrange for permanent financing.  Lease and Option Agreements can be structured to suit almost any situation.

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Love a House but Need to Lease?

If you aren't ready to commit to a program or to buying a house, that's OK we lease them too.  Generally we require 1st month's rent + 1 month's rent or $ 1000 whichever is greater as a deposit.

We'll consider pets with an additional pet deposit.  This isn't usually a problem except for some exotic animals or some larger more aggressive breeds of dogs.  There is an application fee on all of our programs (except cash sales or traditional sales.)

 

HUD-Section-8Qualify For HUD's Section 8?

Some of our houses might qualify as a Section 8 rental as is.  Others might need some work to get them qualified.  If you are eligible or can qualify for section 8, and are interested in one of our houses, just let us know.  We might be willing to get it qualified as your Section 8 rental.  FSPI tries to accommodate our buyer's and tenants whenever possible.

Buying a Home With FSPI... Step by Step

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Finding Your Next Home

We’ve helped many people who thought they would never be able to afford a home again or get qualified to buy realize their dreams.   We've gotten them into a home and made the process easy and affordable.

For some we’ve financed work the house might have needed, for some we’ve helped get appliances.  For all we came up with buying solutions and terms that worked within their time-frame and budgets.  We love what we do and believe it shows!

The first thing to do to work with us is find a house that best suits your family's needs.  You can view our active properties to see if your perfect home is available and posted on our website yet.

Our active real estate inventory doesn't always get posted until it has been cleaned and officially "ready" to be actively marketed.  Many times your next home could be "coming soon".  That's why we recommend filling out the Buyers Needs Form.  You can also get on our "Steals & Deals Email List".

In some cases we have purchased houses to help meet the needs of prospective buyers.  Additionally, we network with other real estate investors and even real estate agents all of the country.  Therefore we might still be able to find someone who can help you get into a home with the flexible buying programs you need.  A house that is suitable for you and your family.

Again, we are a group and network of real estate investors who buy, sell & lease all kinds or properties.  Some individuals and or businesses could be realtors, brokers or licensed agents but most are just regular people just like you.

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Viewing a Home

Once you think you've found a home that may be right for you.  You are ready to investigate it further.  We recommend you drive by it first.   Do you like the location and the neighborhood?

If so, you may be ready to take a tour inside the home.  Our homes are on lock boxes to view at your convenience.  The home may not have utilities turned on.  Therefore it makes sense to schedule your viewing during a sunny day.  If that's not possible, make sure you have a good light source to inspect the property.

To get the lock-box code, you will need to speak to one of our property specialists.  To speak with someone now call (770) OK-7-FSPI.  They will get get some basic information like name address & phone number.  Next, you will need to fax, email or text your drivers license to them.   Once they have it on file, one of our property specialists will then provide you with the code and basic instructions to get inside the home for a viewing.

Again, we pride ourselves in making the process as easy as possible.  FSPI is here to help you realize your dream of home ownership.

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Qualify or Make Offer

If you love or wish to purchase one of our homes or other property, you need to know what's next...  "How Do I / We Get Started?"

The next step when wanting to move forward is Qualifying if you need or wish to take advantage of our SELLER FINANCING.  If you are buying with your own mortgage or financing or it is a CASH SALE you need to make an Official Offer.

Our two most common types of sales are with some kind of Seller Financing & Wholesale for Cash.  Obviously these two types of sales look drastically different.  Here's what you need to know about these two types of sales...

Sold-House-620To take advantage of our Seller Financing option, you first need to fill out a Credit Application completely.  There is a $150 refundable application fee.  If we turn you down for any reason, this will be promptly refunded.  It covers the time and expense of doing credit, background or employment checks, and drawing up your contracts.

You can send your application by fax to (770) 783-8536, by email to Info@FSPInvestors.com or by postal mail to; FSPI, 5200 Dallas Hwy Ste 200-280, Powder Springs, GA 30127.  You can pay your application fee by check, certified check, money order or paypal.  If paying by personal check your application will be held up until cleared.  Someone else could come in and snatch your house away while waiting.  If paying by paypal there is a a 3% convenience fee.

The first thing we consider when reviewing your application is your ability to afford the monthly payments.  That means you need to have enough combined income to be able to reasonably make your monthly payments.  Your income can be from wages on a job, child support, disability, income from self-employment or any other legitimate verifiable income source(s) for all adults living in the home.  Almost always, the monthly payments are at or below market rent to purchase one of our homes.

Generally, to purchase using our financing we ask for 10% of the purchase price as a down payment.  Many of our competitors require as much as 30%... YIKES!  Unless you've recently won the lottery, most people just don't have that much cash just lying around.  We understand... Of course if you’d like to put more of a down payment to lower your monthly payments or to save in finance charges, you can certainly do that.  Also, we never charge a prepayment penalty like other investors or hard-money lenders might!

If you are a little short on your down payment, you may be eligible for a short-term interest free installment loan to come up with the balance.  We may also take barter on services or something of trade to help raise your down payment.  In some cases you may even be able to work into your down payment with special sweat equity incentives.  Again, our aim is to help good people who need a little help to get into a home.

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Work toolsAll our wholesale properties are priced well below their after repaired value.  We do this to make our deals attractive to real estate investors and equity seekers. You could rehab or renovate our wholesale properties with plenty of equity for resale or rent them for a profit.  What can we say... If you've got a big pile of cash come make us your best fair offer.

All that you’ll need for this type of sale some reasonable earnest money to take the property off the market until closing.  Depending on what you plan to do with the property, we can close quickly.  In some cases, we may need a little time to quiet the title if you plan to resell it right away.  If you are a landlord who will hold on to it long term to rent it, this shouldn’t matter.

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Negotiate and Finalize Terms

We are here to help you navigate the whole process from start to finish.  Part of that is negotiating a successful contract between FSPI and you.  We want to ensure you can stay within your budget and can afford your down payment.  It is our aim to set you up to succeed in your new home. 

Once you've found a property and viewed it, qualified or made an offer and have decided you are ready to move forward, you will work closely with one of our knowledgeable Property Specialists to determine all the terms of your sale.  Together you will discuss your financing needs.  We'll help you determine what programs you may need, and what assistance or special incentives may be available to you.

You and your Property Specialist will review and go over your application in detail.   You will discuss how much you make, what you can afford, both as a down payment and monthly (for Seller Financed Sale) and how quickly you want to move. 

Some of our homes may have extra sales incentives depending on the condition of the home, location or how long it has been on the market.  At that time, they will go over any special incentives available on the property you are interested in.  If you can afford it, you may also qualify for down-payment assistance if you are short. 

Together with the Property Specialist assigned to your application, you will negotiate and finalize all the terms for your final Sales & Purchase Agreement.  It will include things like the length of your loan, monthly payments, interest rate, down payment, closing date and when your first payment is due. 

Once all the terms have been negotiated and are within your budget and time-frame, we will draw up your Sales & Purchase Agreement.  You (and your spouse or other co-applicant) will review it to ensure it contains everything as discussed.  Then you & the co-applicant will sign it and pay the agreed upon earnest money deposit, usually 10% of the total down payment.  Next, when you are ready you will close on your home.

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Step 5

Close on Your New Home & Move

 

Prior to closing you’ll need to shop around for homeowners insurance.  FSPI should be named as additional Loss Payee on the policy.  Your insurance agent will help you with this.

You will be provided with a closing package with detailed instructions prior to your closing date.  It will have all the documents you will take to a local Notary Public to sign and notarize.  We recommend using a UPS-Store or Kinkos near you or other Business service provider in your area for this purpose.  You will also be provided with a sales disclosure statement and any other required notices or literature that may apply to your sale.

At closing, you will pay the remainder of your down payment with certified funds if you haven’t done so already.  You’ll send the entire closing package back with your remaining down payment to us where they’ll be accepted and finalized.  We’ll return your fully executed and finalized copy back to you.

At that point, you’ll be able to take your contract to the county courthouse recorders’ office to record your interest in the property if you so desire.

You’ll want to turn on your utilities or transfer them into your name if they are already on - Most are not.  Finally, you move into your new home and take advantage of the investment of home-ownership!

We aim to make the whole process easy, affordable and convenient and are with you every step of the way.

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