Sellers With Rent To Own Homes Compete For Your Business!
Tell us about your ideal rent to own home, in the place where you want to live, at the price and terms you would like to have, then sit back and relax! We have thousands of owners with rent to own homes nationwide that have homes available right now and in the future for a rent to own house. They will call you to show you your potentially new home and discuss terms with you. When you have looked at the rent to own properties and compared all the offers, you select the best deal!
Find Your Dream Rent To Own Home Quickly And Easily
It is often very hard to find a rent to own home. There is no central database that has all the rent to own homes listed so that you can search for the right home. You have to visit many web sites that are hard to find, read through multiple local newspapers weekend after weekend, and then spend hundreds of miles driving to try and find what you are looking for.
Nine times out of ten lease option homes will not be listed in the Multiple Listing Service. Even if they are, agents are reluctant to show them because they have to defer their commission for twelve months or more until the home sells.
Rent to own home owners may not always have the money to advertise in the newspaper, and will often rely on yard signs or word of mouth advertising. So how do you find them?
Instead of spending weeks reading through newspaper ads, driving around looking for yard signs and viewing rent to own homes that you can't buy or don't want, you can now have your search done automatically and only the owners that have homes meeting your criteria will contact you. This is especially useful if you are relocating out of state, and don't know which newspapers to read to find these homes.
Cost? How About FREE?
There is no fee to you, the Tenant Buyer. The Seller pays to see the information. This saves them potentially thousands of dollars, a saving they can pass on to you.This is possible because they only talk to people whose preferences clearly match what they have to offer, and they don't have to advertise in expensive newspaper classified ads. This also saves them time, and yet another mortgage payment on a vacant house.
How Do I Get Started To Find My Rent To Own Home?
Fill out the rent to own house registration form, and tell us about the rent to own home you want. You are under no obligation whatsoever when you start this process. All we ask is that you respect the fact that the rent to own home owner is paying to see your information. If you are not ready to commit or are not planning to move in the next 120 days, then click here to register with us only. We will email you information about the process and stay in touch until you are ready to move.
For a list of rent to own homes, click the link.
December 2010 Rent To Own Homes Tips
Credit challenges are normally the primary reason why folks consider a rent to own program. It is not always easy to have credit items removed from your report, and it can take years for some items to age before it does not affect your score anymore. If you enter into a rent to own transaction, then you are giving yourself incentive to qualify for a mortgage loan in 12 or 24 months.
Don't take the risk that your credit may not be good enough at the end of your lease without getting all the odds on your side. Working with an effective credit repair company can have derogatory credit items removed in one year or less. This way you are not just gambling that your credit will be better, you are stacking the odds heavily in your favor.
To stack the odds heavily in your favor, do the following during your lease term on a rent to own home purchase:
- Try to avoid opening new credit. You want to make sure you can qualify for a mortgage from a debt to income ratio perspective.
- Pay your rent on time. Do it by check, pay on the first of the month, and keep the canceled checks as proof for the mortgage company.
- Pay all your bills on time during your lease period.
- Work with a reputable credit repair company to remove existing bad credit.
- Do not pay old collections, charge offs or judgements. This will reset the activity date and make it factor heavily in your credit score again. Let the credit repair company tell you how to handle this.
- Do not sign up for credit counseling. This will affect your ability to get a mortgage.
- Do not declare bankruptcy during your lease period. It is okay to be in, or shortly out of bankruptcy before you start your rent to own home agreement.
- Do not close any accounts. To qualify for a mortgage you need to have trade lines. Closing a trade line (eg. Credit card etc...) means it can not be counted.
- Use credit, but keep your balances low (less than 25% of what limit is available). Ideally pay it off in full every month. But do use it to show activity on your credit report.
December 2010 Rent To Own Homes Tips
Knowing that you can qualify for a mortgage loan at the end of your lease period will give you peace of mind. There are several factors that are important to consider. A loan officer will look at the following aspects to evaluate your ability to qualify for a loan:
- Income - Do you make enough money to make your mortgage payments and pay your other obligations?
- Assets - Do you have enough reserves to close your mortgage and meet lender requirements?
- Credit - Defines what loan program you can qualify for with your current score
- Employment - Do you have a stable employment history?
- Residency - How long do you stay in one place before moving on?
Once you know what your score is, discuss it with your local loan officer.
Credit alone will not be enough however. It is important to have a mortgage professional review your entire financial situation with you, and evaluate your mortgage ability on all the factors - income, assets, credit, employment and residency. Only a mortgage professional will know if items like outstanding collections, judgments, bankruptcies, tax liens or other credit items will affect your ability to qualify.
For more information about us please click the link. If you do real estate investing, click the link to find out how to get access to people looking to buy rent to own homes.