CAN WE ASK YOU A PERSONAL QUESTION?
Are you still renting?
Do you want rental payments applied towards owing a home?
HOW CAN YOU SUPPORT YOUR FAMILY JUST RENTING?
How can you make ends meet by just throwing your money away on rent and getting nothing in return?
You're making your lanlord rich while you're paying his mortgage!!
HAVE YOU BEEN DECLINED FOR A MORTGAGE?
You've probably seen that banks only lend money to those who don't need it. When you have the cash, they tell you your credit score is not good enough. When you have a good credit score, you don't need the cash!!
HAVE YOU CONSIDERED RENT TO OWN?
Just look at some benefits:
- You could earn equity each month, simply by paying rent.
- There is no bank qualifying required to get started.
- You need only a 2 to 4% total down payment in most instances.
- You get to "test drive" the home and check out the neighborhood before you commit to buying.
IS RENT TO OWN FOR YOU?
That is a good question. The good news is that it probably is the easiest way in today's loan marketplace to get into a home of your choice with no bank financing, no points or harsh fees with your loan and best of all, just a minimal down payment (usually between 2 to 4% of purchase price).
A) SAMPLE PROPERTY FOR SALE
Price of 3 bed, 2 bath doublewide mobile on large lot...$85,000.
Down payment if you borrowed from a bank, 10 to 20% down...$8,500 to $17,000.
Credit history on all purchasers will be checked thoroughly along with income, job history, etc.
Past life problems could be held against you such as medical bills, loss of job causing delay in your payments, sickness of family member causing late payments, or any lifestyle change that banks are indifferent to.
B) LET'S LOOK AT THAT SAME $85,000 SALE ON A RENT TO OWN.
Down payment on rent to own, called option consideration, is just about $2,000 total. Not the large down payments banks want.
Credit history is not checked by a bank so there are fewer criteria upon which you will be evaluated.
THE BOTTOM-LINE?
You get to move into your dream home for minimal outlay and no bank qualifying. Best of all, your initial payment is applied to the down payment when the option is exercised (when you purchase the home).
Also, depending on the figures of your actual deal, you are also entitled to a rent credit each month. This is applied to the purchase price of the home. Now you are building equity with each rent payment. This option can be for as long as 3 years if you wish, until permanent financing can be obtained.
Let's get started with the nuts and bolts of Rent to Own!
Call us today for list of properties and full explanation
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