My mission is to promote homeownership, and I will offer you every available option. Call/Text me with any questions Buying a home provides plenty of advantages but often requires hefty down payments and sterling credit ratings. Atlanta homebuyers can find a solution by renting to own. Rent-to-own contracts allow homebuyers to “buy” a home at current prices while renting the property for one to th
ree years. Instead of an initial down payment, renters/buyers pay a smaller option fee and a slightly higher-than-normal rental fee, with the excess going toward the home’s down payment. This gives purchasers time to repair credit, eliminate debt and qualify for a mortgage in a relaxed time frame while still enjoying today’s home prices. HOW IT WORKS :
We are thrilled that you have taken the first step towards rent to own! Some of the homes are available for lease with the option to purchase anytime you’re ready. My program has thousands of homes to choose from! Choose from almost any home for sale between $250K and $600K, and we can turn it into a lease option! Move in as little as 14 days. My programs are lease with option to purchase, that helps you build up a down payment while you rent. Application fees as low as $25 a person and up. Rent-to-own contracts allow homebuyers to “buy” a home at current prices while renting the property for one to five years. NOTE: PLEASE CONTACT ME ASAP BY TEXT WITH NAME AT 678-832- 0571 AFTER YOU HAVE COMPLETED THE APP. Read the minimum qualifications to see if you are eligible. If you are ready, then next fill out the applications below for each program. Who qualifies? Here are some minimum requirements…….
-600 FICO credit score
-$5,000/month pre-tax household income (applicant + co-applicant, if any)
-12 months of on-time rent payments
-Savings / gift / 401k of $5,000+ that can be used towards home purchase
- Minimum $50K annual income
-Currently employed or have other steady income sources
- A maximum monthly debt-to-income ratio of 50%
- No evictions in the previous year, No bankruptcy in the past 2 years
NOTE: PLEASE CONTACT ME ASAP BEFORE YOU HAVE COMPLETED THE APPLICATION BY EMAIL OR TEXT SO THAT I CAN FOLLOWUP ON YOUR STATUS AND GET YOU FASTER RESPONSE FROM OUR PARTNERS
RENT TO OWN FAQ:
When you enter into a rent to own agreement, you will pay a fixed amount each month for a certain number of years. This amount will be lower than the market rate rent, but it will still be more expensive than your average monthly rent payment. During this time, a portion of your rent payment will go towards the purchase price. When it comes time to buy at the end of your rental period, you will have paid down enough money that you can afford a mortgage and make an offer on the home. The Process of Rent to Own
There is no one size fits all when it comes to the rent to own process. However, most processes will entail:
Buying Price
The seller states the price of the house either at the start of your lease before you sign the agreement or when the lease expires. The price of the house is based on the home’s current value. A house could either appreciate or depreciate by the time you are ready to purchase it. Most buyers will want to decide on the purchase price before they move into the house to know what they’re working with and to avoid paying more if home prices in that location rise. Paying Rent
When signing the contract, you agree on the amount of rent to pay each month. Your rent will be slightly higher than the other tenants because a portion of it, which is referred to as rent credit, will go towards purchasing the home. Rent is 25% to 30% more compared to the usual rent price of that area. Fine-tune these details beforehand to avoid having any misunderstandings with the landlord as time goes by. Home Maintenance
Sellers are usually responsible for taking care of their property. But in a rent to own agreement, some will transfer the maintenance responsibility to you because technically you will end up owning the house so it will be your responsibility. Because rent to own is a unique situation, the contract needs to state who does what in terms of maintenance and paying taxes such as property tax, insurance and more. Buying the House
When the time comes to buy the house, mortgage financing will go a long way towards paying off the balance of the house. A mortgage adviser will inform you of the different options available and explain how the mortgage application process works. When you sign the lease option contract and the lease expires, there is no obligation on your end to purchase if you happen to change your mind. Unfortunately, you will lose the option fee and any money paid up to this period. Deciding Whether it is the Right Option for You
Before you decide on going this route, you need to know the benefits of rent to own properties in Nairobi and what the cons are. Advantages of Rent to Own
There are many benefits to choosing rent over buying outright including flexibility and fewer upfront costs. You have more control over when (or if) you want to buy out your lease agreement before its expiration date. If there’s any major change in circumstances like job loss or divorce with kids involved then having this type of contract allows for an easier transition back into renting status without having purchased anything yet! Also, since rent payments contribute toward ownership they might not count as taxable income which could save some money on taxes when it’s time to sell down the road! Disadvantages
Rent to own can get risky. That is why you should know your rights as a tenant beforehand to avoid getting duped in the deal. Here are some of the cons of rent to own. If interest rates go up before you purchase, then your rent will increase accordingly while still paying off debt incurred during the rent-to-own period which means less available cash flow per month than had been anticipated when first entering into this kind of agreement. It is best to work on your credit monthly to own as soon as possible, we have resources for this. There could be potential problems with maintenance issues or repairs needed for the property since the landlord would need approval from the tenant before taking care of any necessary work done at the unit. CALL ME FIRST AT 678-498-6170 OR TEXT BEFORE YOU COMPLETE ANY OF THE PARTNER APPS SO I CAN MAKE SURE YOU SIGN UP FOR THE CORRECT ONE. I HAVE A NEW PROGRAM PREFERRED IF YOU HAVE AT LEAST 600 CREDIT SCORE - CALL ME AT 678-498-6170
