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ABOUT US | GOOD CREDIT | BAD CREDIT | FORECLOSURE | SERVICES | APPLY | PROPERTIES | OPPORTUNITIES |
Rent to Own ProgramWe have two programs: Those with good credit and those who cannot qualify for a conventional mortgage loan.Good CreditNo down payment? No problem? You will have immediate title to the property in your name. Down payment can be as low as $1,000 downBad CreditThe keys to our Rent to Own program are in the following three areas:
Option PaymentBefore the lease begins, we collect what is called an Option Payment from you. An Option Payment is essentially earnest money towards the purchase of the home. It shows to us that you are serious about following through and purchasing the home. The Option Payment is usually 3 - 5% of the home's agreed-upon purchase price, but can vary depending on your personal financial situation. If you decide to purchase the home, the Option Payment is credited towards your down payment on the home or is deducted from the purchase price of the home; whichever is more desirable for you at the time of purchase.Rent-CreditThe rent on a Rent to Own home is slightly higher than typical rent. The reason being that, every month, we credit part of your rent back to you in the form of a Rent-Credit. These Rent-Credits accumulate as you reside in the home and are eventually credited towards your down payment on the house or are deducted from the purchase price of the home when you exercise your option to purchase.Lease TermThe normal lease term on a Rent to Own home is anywhere from 12 to 24 months. However, the length of the lease term varies depending on your current financial situation, the amount of the Option Payment you can provide, the amount of Rent-Credits you will receive and the amount of rent you pay monthly.Improve your Credit RatingDuring the time you live in the home, we work closely with you to help you improve your credit. We also put you in touch with several lenders that will work with you while you live in the home so that you are able to establish a relationship with them, making their decision easier when it comes time to apply for a loan to purchase the home.Purchase your HomeThe option Payment, rent-credits, credit repair and relationship with lenders are all aimed at one goal: preparing you to purchase the home!Ready to get started? Fill out our application form today so that we can begin to find a home for you!
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