Adjustable rate, wide terms, call features, they can stop the line of credit, just not a good way to go for any long term need. :)

Be up front as to what you are doing, read the thread I linked, it covers the disclosure side, disclosures are not get of jail free cards. :)

As for screening, both had excellent credit and stable job history.

How to account for a rent credit at the time of sale?

Hopefully that will truly drive you to do making this dream into a reality :)Make sure your credit is in good shape because it will definitely help in the future for financing.

The lender refinancing such a note can also assess the imputed rate to figure the equity gained, much like the rent credited on a lease purchase.

Can anyone please recommend a reasonable and good credit repair company?

I never obtain a credit report.

Owner finance (similar to contract for deed if that is legal in your state) is a good way to get out of your situation, with the possibility of making some money on the deal.Ask for at least 10% down and figure out what interest rate you would like to charge (depends upon their credit, I suggest nothing less than 8% even with impeccable credit.)You can use a mortgage loan calculator online to get the amortization table, and there are companies out there that will 3rd party service the loan and report to the credit bureaus for you.I suggest finding a real estate attorney in your area that has done these to structure it correctly for you.

The underwriting guidelines will focus on your credit score and your debt-to-income ratio (DTI).If you're earning $30K per year, that's about $2500 per month.