Rent to Own (RTO) Program:

We are very excited and proud of our rent to own program, because It was created with the passion and belief that it really helps people get into home ownership that wouldn’t be able to qualify for traditional funding - typically due to credit.

This is a program that typically -no matter credit- we can help you. Now each property and property owner is set up a little differently on terms and conditions- but in general it is set up where instead of the bank carrying the funding the owner does. We have set up some fantastic lending relationships, and will still try to assist with more favorable interest rates with traditional funding, however if that isn’t the route to achieve homeownership , the RTO option could be the way to achieve the goal.

Here are some key points with RTO’s:

Many of our properties are set up in the manner where you usually have an interest rate and the total price of the home is set on a term you choose - like a 20 year or 30 year term for example. Your down payment is immediately deducted from that sale price - Then your payments are set based on the terms you select.

• Typical down-payments are $5,000-$20,000. We have seen some properties go as low as $3,000 down-payments, however those are more rare.

• We suggest to our clients that once you get into your new home- you work with us to “work” with you on your credit. In a of couple years or whenever you are ready, then we can help you refinance with a bank and lower your payments .

• On rent to owns you are responsible for taxes, insurance, and maintenance, and “closing” costs (typically $750-1200) Just like a regular home ownership.

• It also goes to a “closing” just like a typical home purchase. This is in the form of an escrow account and a closing set up at a title company.

• We do have an application- we charge $50 per adult and you pay that one time and it applies toward all of our properties.

• Qualifications for applications that we look at are

  - stable income ,

  -rental history/ evictions, and

  -ability to make down-payment.

  Some property owners do have additional qualifications.
  

What if I fall in love with a home and want you to stop Marketing it to others?

If you fall in love with a house - you can put a deposit down (typically $1000) and it takes it off the “rental market” -and it is held for you and removed from the available rent to own list and all advertising is removed or marked pending while all negotiations and closings are completed.

Now, once again - each owner is different in the way they structure their terms and contracts- so this is a general overview and can vary depending on the property and owner.

You can schedule to start looking at properties before or after putting in an application.

Please let us know what you are looking for and we will get started on getting you into your next home 😀

What is a Buyer Profile, and why do I need one?

A buyer profile is an overview of you as a Rent to Own Buyer. Your property Specialist will send you a link to complete so that we can fine tune your home search or your can also find the link on our home page at the bottom. This profile is what we will show to other property specialists, lenders, investors, and sellers. It is a quick snapshot of you as a buyer and tells:

• Your first name

• What kind of down-payment you have and your monthly payment budget

• A highlight of you as a buyer

• What type of property you are looking for and your do’s and don’ts for a property

• The approximate time frame of when you would like to be done with closing and moved in.

A buyer profile is no cost to you, and you are assigned a buyer number and then the matching begins.