Tired of throwing away thousands of dollars every year in rent, when you could be building your own equity? Getting into a home has never been easier than with Rent to Own Homes. Partnering with our credit restoration partners at the H.O.P.E. Program (Home Ownership is Possible through Education), we provide the tools and services to guide you, step-by-step, into the home of your dreams.
Rent to Own Homes programs have never been more simple or affordable. Instead of building your landlord’s equity, the money you spend every month on rent could be going towards your own mortgage and down-payment. Rent to Own Homes are a legitimate way for those with poor credit or those unable to afford a down-payment to get into a house of their own.
The way Rent to Own Homes work is simple. Sometimes called “Seller Financed Home Buying,” these programs give prospective Home-buyers a way to get into their future house before being approved for a mortgage. Usually arranged as a 36-month agreement between the Seller and Buyer, the home-buyer pays rent to the homeowner. That rent is split into two portions. The larger portion goes to the homeowner who continues to pay his mortgage on the house. A smaller portion is set aside in escrow each month which converts into the down-payment at the end of the rental period.
During the 36-month rental period, most home-buyers should work on raising their credit score (650 is the standard minimum credit score for most banks before they approve a home loan). The biggest mistake home-buyers make when pursuing Rent to Own homes is failing to repair their credit. Even though banks will acknowledge those who successfully complete their rental period (making all their monthly rent payments on time), without a decent credit score they will still deny approval for a mortgage. That is why LocateRentToOwnHomes.com partners with every home-buyer to help them remove negative items from your credit score and establish secured lines of credit. We have helped thousands of people get into their own home through our programs. If you would like someone to contact you about enrollment, enter you info below.
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