Convert Renter to Owner

The borrower had fallen in love with a home they were renting. Unfortunately for the borrower and many other Americans, they had a recent short-sale that prevented them from qualifying for traditional financing.

Thanks to Del Mar, they were able to purchase the home they were renting with monthly loan payments, including impounds for property tax and insurance, that were several hundred dollars per month less than the rent they were paying on the exact same home!

As an added benefit, the mortgage interest is also tax deductible, whereas their rent was not. In addition, any future appreciation in the property’s value now belongs to the borrower, not their landlord.