The program is designed with you in mind. I will help you get into a home listed here on the website
but you will have to do some of the work.
As little as $2,000 will move you into one of these homes! There are no other fees.
Here is how the program works:
1. Take a look through the properties I have listed here on my website.
2. Click the FL/GA tab above or the other state tabs for those states
3. When you find a home you would like to visit email me from the bottom of the page to let me know you would like to view the home.
4. I will give you an access code to the property to get in.
5. If you like the property after you have looked at it you can email me letting me know that you would like to proceed.
6. I will then email you an application. I will have you email me copies of your ID, proof of income and the completed application.
To qualify for the program you must have a clean rental history. Poor rental history may effect the amount of down payment required. You must have regular income adequate to cover your monthly payments. (Monthly payment x 3) I need to see bank statements and/or pay stubs. (Being paid in cash and having no bank account would disqualify you for this program).
Once you are approved I will send you a contract via email.
You print it off and sign it, make a copy for yourself and overnight the originals to the corporate office in Houston Texas along with your Deposit.
We will send you back the fully signed contract within 2 to 3 days after processing.
You take possession of the house and start making payments. Payments do not include taxes and insurance. You will be required to maintain property insurance and the annual taxes.
The length of the term is 30 years. It is a lease with the option to buy. A portion equaling 1/360th of the total sale price will be applied toward the purchase price each month. We will hold the deed until the property is paid in full.
There is no prepayment penalty.
How do you know this is not a scam?:
Sending money and never meeting a person can be scary. I understand. The fact is that it does not matter weather you meet a person at a house or over the internet. You can be scammed either way. Just because a person is in front of you does not mean he is not scamming you. Here is what you do. Pick any number of properties on my website and look them up on county websites. You will see only one owner. Morningside Funding LLC. based out of Houston Tx. Your check will be made out to Morningside Funding llc. Your monthly payments will go to Morningside Funding llc. as well. You can verify the address. When you mail in your documents and check you will send them overnight so they will have to be signed for. You will have a tracking number, an exact address and a person signing at the other end. That is more safe than meeting someone in a drive way who happens to have a key and a lease.
Here is an example of the terms:
(THIS IS AN EXAMPLE. MONTHLY PAYMENTS ARE NOT BASED ON INTEREST RATE OR OPTION PRICE) Therefore you can have homes with a $60,000 price tag but the monthly payments are very different. Monthly payments are based on location and are not tied to the sale price.
A $60,000 Option price, $2,000 down with a 30 year option to buy and monthly payments of $500 example.
We give you a contract that states we will give you the right to buy the house for $60,000 and we will reduce that sale price to you every month by $161.11 as long as you follow the provisions laid out within the lease which is a second contract. So where did this $161.11 come from? That is easy. You take the sale price of $60,000, subtract the down payment and divide it by the number of payment over the 30 year period (360) and you get your answer. This formula works the same for every property listed on my site.
You can pay off the balance owed at any time with no penalty.
If you do not see a home in your area you can subscribe for updates. As new properties come available you will get an email letting you know the new property locations.