We are here to help you to become a homeowner. There is no reason why the big banks should have to turn you away from what you wish to accomplish. Let’s work together and create a plan which will allow us to move forward and qualified for your new home. Even better, why not build that qualification and live in the home you want at the same time. With our personalized Rent to Own program this can be accomplished. Working with our trusted mortgage broker you will be well on your way to making your dream a reality.
So how does it work?
Rent to own a home is similar to leasing to own a vehicle:
- Today we determine a purchase price for the home based on the term of the agreement as well as a small initial option consideration.
- We agree upon a monthly payment with two components: a rent portion and the option credit amount that goes towards the purchase of your home.
- Together we determine the time period of when you would be able to purchase this home with your own financing and exercise your option.
From day 1 you move into your dream home while you work towards exercising your option. In the meantime, we begin to work on whatever challenges you have that currently do not allow you to purchase a house: whether it is your credit or the lack of a larger down payment so the home is completely yours in the future.
Here are a few of the benefits:
- Rent to own allows you to get out of a not so nice “rental property” and move into a place you can proudly call home right away.
- At the same time you start saving enough money for your option consideration with the goal to own this home over a predetermined period of time.
- You don’t need to wait years and years to improve your credit history before you can qualify for a mortgage and move to a nice home.
- Lease payments can be fixed for the life of the agreement, so you have a clear plan towards owning your home.
- Instead of just paying rent, you are working towards the purchase of the home you are living in by increasing your option consideration amount.
- You don’t need a large option consideration to get into your new home right away.
- We create a plan with you to accumulate the balance of the option consideration.
- Your new mortgage is generally easier to obtain when you exercise your option, especially when the property value is higher that the option price.
- Plus, you also know, the work you do in your home will not be wasted when the lease is over.
- Best of all, through this program, while you are living in your future home, you are also improving your credit and putting yourself in a position where home ownership is not only possible, but easy.
The Costs:
We help educate our clients on the costs involved in purchasing a home and are also transparent about the costs involved in our Rent to Own Program.
- We will help educate you on the costs involved in moving into a home, whether that means additional furnishings or a disiplined savings account for future maintenance.
- You will be responsible for paying for the home inspection once you have selected a home you want to purchase. This is a fee that you would be required to pay if you were to qualify for your own mortgage.
- There is a commitment fee to get involved with our Rent to Own Program. We are always happy to provide potential clients with free information but once you are ready to start we are happy to elaborate about the full potential of the Program!
Start your journey with us today!