What's your idea about my plan?

Talking about dreams here. It has been my dream to purchase a house condo of my own. But, of course I need enough cash first to fulfill that. However, my daughter would like to rent a condo due to some travel inconveniences. We are living far from her office. But, I found out that renting would costs her too much so I thought about considering a rent to own condo which means buying it rather than renting it for a long time. What's your idea about my plan? I would like to apply for a home loan. I heard about it from a neighbor who did the same and borrow from a bank. In my case, I want to borrow from a credit union nearby. Anyway, how can I avail and apply for a home loan.

That could be a great idea! You can even have it as a source of income. Anyway, I only knew about the rates in banks but I also read about credit unions. The latter financing institutions might have a suitable housing loan packages for you. You may want to give it a try. Inquire to them directly.

I'm looking at the fixed rate mortgage of Calcoast, have you heard of the company? I might give them a call soon, I hope we can get a condo soon, i don't want to spend another dollar on our monthly rent anymore.