Q. Why should I consider Rent to Own?
A. The Rent to Own program will allow you to:
- Build your credit while building equity in a home
- Lock in your purchase price before home prices begin to soar
- Get a feel for the home and neighborhood before making a major commitment
Q. How does your Rent to Own Program work?
A. Our Rent to Own program is designed for individuals that would like to become homeowners but have various issues (bad credit, bankruptcy, etc.) that prevent them from acquiring a home the traditional way. Our program helps renters build equity and improve credit while renting a home that they can eventually own. Alternatively, if you rent one of our apartments or townhouses, you can apply a portion of rent payments towards the purchase price if you later decide to buy one of our single family homes.
Q. How does your Rent to Own Program help me become a homeowner?
A. Our Rent to Own Program makes it easy to become a homeowner in many ways: First, we make it easy to get into one of our homes with a low down payment, usually $2,000-$3000 down, and no bank qualifying. Second, we lock in a price so you can build equity before you buy. Third, we apply $250 from each monthly payment towards the purchase price. Fourth, we offer credit restoration advice to our buyers.
Q. Don’t I need to improve my credit before I can purchase a home?
A. Bad credit can keep you from getting a home loan, and even if you do get approved, the rates can be so high that making payments is difficult. Don’t worry! Just get to work on improving your credit after you move into your new home. We frequently approve applicants who have terrible credit, because we look at your whole financial situation. We do this because we know that you are serious about owning the home someday and will work hard to improve your credit in order to get the best possible terms when you buy. We will recommend lenders who believe in our program, and we will create a credit improvement plan for you. Most importantly, we lock in the purchase price when you move in, so prices won’t climb out of your reach if the next boom cycle comes while you are working on repairing your credit.
Q. How do you determine if I qualify for your Rent to Own program?
A. We look at your whole situation to determine acceptance. We encourage you to apply even if you have major credit issues, including foreclosure or bankruptcy.
Q. What about home repairs, property taxes and property insurance?
A. Don’t worry! Both property taxes and property insurance are covered by us. Although it is strongly recommended that you get renter’s insurance. As far as repairs go, we handle all repairs caused by faulty craftsmanship or product quality. We are unable to cover repairs caused by the tenant due to excessive wear and tear or abuse.
Q. Do we need to wait the full lease term before we purchase?
A. No, your Rent to Own option contract guarantees you the right to purchase any time during the lease term.
Q. What are Rent Credits?
A. Rent Credits are a big part of how we help you save up for a down payment when you purchase. A portion of your rent payment (typically $250) will be applied to your purchase price. Most lenders will even allow your rent credits to be applied to your down payment.
Q. The main reason I want to buy a home is to build up equity when the market appreciates. Will your Rent to Own program allow me to build equity?
A. Yes. The purchase price will be locked in, so you will be building equity when prices start to rise before you even purchase the home. If you don’t participate in this program, you might miss out on the next boom cycle completely!
You need a new approach. . . Contact us today and put an end to the frustrating cycle of waiting and missing out.
Q. What are my options if I cannot qualify for the loan at the end of the Rent to Own option period?
A. As long as you continue to make your monthly payments and work hard to improve your credit, we will work with you until you achieve your dream of home ownership.
Q. Which of your properties are eligible for this program?
A. All of our single family homes are eligible. Click here to see available properties.
Q. Who do I contact if I have more questions?
A. Send us an e-mail at : firstname.lastname@example.org and we will set up a time to discuss any questions you may have.
Q. I am interested in becoming a home owner, how do I get started?
A. Click here to see our available properties. Call Margaret at 419-508-5915 to personally view the homes you are considering. Once you find the home you like, complete our application, and we will quickly process it and call you to discuss your options.