Housing Finance

[justsignedin]

I have another question

I have heard of people moving into houses on a rental basis and then being offered the oppertunity to buy, placing a downpayment and then monthly payments over 4-5 years. I have been renting for 4 years and am starting to think i might be better off buying. Was wondering if these finance deals were commonplace and are their any locations that offer finance on a regular basis.

With Thanks,

JSI

[Humphrey Bear]

I have another question

    I have heard of people moving into houses on a rental basis and then being offered the oppertunity to buy, placing a downpayment and then monthly payments over 4-5 years. I have been renting for 4 years and am starting to think i might be better off buying. Was wondering if these finance deals were commonplace and are their any locations that offer finance on a regular basis.

    With Thanks,

                    JSI

<{POST_SNAPBACK}>

Most developers will do this - you pay about 20% over the first year, the balance over another 6-8 years.

But they charge anything from 14% and up in finance charges. If you have a work permit and bank account, it is cheaper to talk to your friendly local bank manager.