How To Sweeten The Rent To Own Deal

The rent to own option is a fantastic financing option for many homeowners who are looking to get into the house of their dreams. For those who may have credit problems, those who may not have the initial capital to purchase a home, or those who are just interested in trying the home out before they buy it, the rent to own financing option offers a fantastic opportunity to get exactly what they want.

In this article, we will discuss some of the ways that you can take the basic rent to own financing option and utilize other commonly used tools in the home finance industry to sweeten the deal. Imagine being able to utilize a lease option on a home while still being able to take advantage of some of the more robust financial tools out there.

Price Negotiation

Seasoned professionals in the real estate industry know that no price is set in stone. As a home buyer, particularly in today’s market, you should be aware that you do have negotiating powers. While it takes a very skilled and highly trained real estate professional to be able to create the massive price decreases in major negotiations, you can still lower... to read the full article please click here.

To view rent to own home listings in your area for free, visit us at RentUntilYouOwn.com now!

Buying A Home: Rent To Own Financing And Divorce

You may be wondering what divorce and rent to own financing have in common. It turns out, that home financing and marital issues are so closely intertwined that many home buyers realize only to late the power of these two entities acting on each other.

This article will explore the intricacies of divorce and finance and what you need to look out for before you enter into a rent to own financing option contracts.

Before The Contract

If you are currently married and considering purchasing a home it is recommended that you sit down with your significant other and talk about finances. Unfortunately, the most common cause for divorce in the United States is financial trouble. Entering into any sort of financial situation, whether it be the rent to own option or not, without the both of you being on the same page can cause serious marital problems.

While it may not be necessary to... to read the full article click here.

To view free listings of rent to own homes in your area, visit our website at RentUntilYouOwn.com now!

Negotiating Costs With The Rent To Own Financing Option

When a buyer and a seller of a home are negotiating during the closing process of the home buying experience, there are plenty of things that you need to be aware of so that you are not taken advantage of by the seller of the home.

During the negotiation phase there are certain things that you and the homeowner must work out that need to be paid for. These items that must be paid for are often referred to as “closing costs”. The rent to own financing option offers a unique twist on closing costs and we will talk about that in this article.

In traditional home financing options, the financial responsibilities of the buyer and seller are incredibly clear. With the rent to own option the traditional responsibilities may become a little bit skewed as the length of the contract and the nature of the rent to own model cause exceptions to certain situations.

Let’s take a quick look at some of the things that we can expect the home seller to pay for if we were to purchase a home today.

Sellers would typically pay for...to read the full article click here.

To search free listings of rent to own homes near you visit our website at RentUntilYouOwn,com.

The Five Worst Things You Can Do When Buying A Home

Many of the articles that we have written thus far have been about the rent to own financing option. There is much more to purchasing a home than just the financing options available to future home buyers.

This article is going to take a look at five of the worst possible things you can do in the home buying process. Whether you use the rent to own option or not, this is a fantastic article to help prepare you for a smooth transition from winter to homeowner.

Don’t Know Your Budget

So many people these days just simply do not know what their budget is for their home purchase. They are so focused and determined to buy a home but they do not know how much they can afford. This lack of knowledge can lead to major disappointment when they realize that the home that they want is not the home that they can afford.

In order to avoid this blunder you must work with a qualified professional, or do some research yourself, to figure out exactly what your budget is for a home purchase. There is no hard and fast number for how much you can afford, but looking around at different home prices, you can figure out how much a monthly mortgage payment would be. If the potential monthly mortgage payment is significantly higher than the rent that you are currently paying, chances are you are not financially... to read the full article please click here.

To view free listings of rent to own homes near you visit our website at RentUntilYouOwn.com now!

Five Things To Watch For When Renting To Own

Rent to own homes are a fantastic solution for many home buyers. Whether you are purchasing your first home or whether you are looking for investment opportunities using alternative financing, the rent to own option has a lot to offer.

Like any form of financing, there are a few things that you must be aware of before you dive in headfirst to rent to own home buying. Financing a home purchase can be a very complicated and confusing endeavor for those who have never done it before, which is why we have put together this article.

By reading the information in this article you will be able to avoid some of the major pitfalls that befall buyers who are getting involved in the rent to own the financing option.

Unscrupulous Home Owner

The major difficulty with the rent to own financing option is that 99% of the time...to read the full article please click here.

To view free listings of rent to own homes in your area, visit our website at RentUntilYouOwn.com now!

How To Lock In Your Future Price With Rent To Own Homes

The most obvious benefit of taking the rent to own a home approach to home financing is that of locking in your future purchase price. Having this option allows many homeowners, particularly in today’s market, to proceed with confidence into a contractual agreement knowing that they will be able to purchase the home at an affordable price while taking the much needed time to put their finances in order.

If you are wanting to pursue the rent to own option as a way to lock in a future purchase price, there a few things that you need to be aware of.

The Lease Option Financing Route

In the 1960s and 70s a financial instrument was developed called a Lease Option. This lease option allowed future home owners the ability to secure future sale prices upfront, while leasing the home from the homeowner.

It is this Lease Option on general mortgages that make the rent to own option such an attractive solution for many home buyers. When making reference to a fixed future purchase price, we are actually referring to the Lease Option on a mortgage.

In most cases, the future homeowner (the buyer) will be assessed a fee to initiate the Lease Option on the mortgage. This fee typically ranges between 1 and 3% of the proposed selling price. For example, if you were wanting to take advantage of the Lease Option on a $200,000 home, you would pay (upfront) anywhere from $2,000 to $6,000 as a fee (aka deposit). It is not required that the fee be between 1 – 3%, your fee could be as low as $1, but it is important to realize that this fee is unlike a rental deposit: in most cases there is no refund.

The terms of this type of contract is... to read the full article click here.

To search free listings of rent to own homes near you visit us at RentUntilYouOwn.com now!

Purchasing Your First Home With A Rent To Own Option

Purchasing your first home can be a very exciting and nerve racking time! There are so many things that could go wrong: your loan doesn’t go through in time, you can’t come up with the down payment or you are outbid by another prospective home owner.

For many, the rent to own option can eliminate much of the stress and anxiety that first time homebuyers experience. This article will explore some of the upsides and downsides to buying your first home with a rent to own option.

The Buyer’s Upside

If you are deciding to purchase your first home, this is a very exciting time for you. There are many reasons to purchase a home, and 99% of them are because of happy, exciting events: a growing family, a new job, a promotion etc.

With these exciting events can come some uncertainty. What if that new job doesn’t last? What if your growing family doesn’t really fit in with the other neighborhood families? These are all real and valid concerns that the rent to own option can eliminate.

By renting (or leasing) before you buy your house, you are able to move one step closer to taking on the responsibility of home ownership, without getting yourself locked too deeply into something that you can’t back out of.

Not sure if your kids will like the neighborhood? Rent to own for a year or two. Test the neighborhood out, test the house out and know for certain.

Not sure if the new job will last? Instead of putting all your eggs into one basket, why not work towards a down payment and mortgage, while still having the option to resell the Lease Option to another buyer?

The rent to own option is fantastic for first time home buyers because it offers the buyer more freedom and less risk that traditional mortgage financing options.

The Buyer’s Downside

The largest disadvantage to first time home buyers in taking the rent to own option is that they could potentially lose their investment with little protection. Let’s look at a potential worst case scenario example:

If you were to try and purchase your first home using the rent to own option, typically you would be assessed a small, non-refundable, fee (something around $2000).

You would also be asked to pay... To continue reading this article please click here.

To view free listings of rent to own homes near you, visit us at RentUntilYouOwn.com now.

How To Buy A Home With Bad Credit

More and more Americans are finding themselves in dire financial circumstances. Debt has reached historical highs and peoples’ credit scores are truly suffering. If you are one of the many thousands who are suffering from bad credit, you don’t have to give up on your dream of owning a home.

Purchasing a home is a complex process that allows for many different avenues of achievement. You can still own a home, even with bad credit, if you follow some of the advice found in this article.

Can You Really Purchase A Home On Bad Credit?

The short answer is “yes”. Home ownership is not exclusively the right of those with good credit. If you are planning to purchase a home with bad credit, you need to understand that your purchasing process will be a little bit different.

Poor credit will increase your interest rates on a mortgage. Translation: You will end paying more for the same house, just in interest, because the mortgage company sees you as a riskier debtor.

In some cases you may need to wait several years before... to continue reading please click here.

To view free listings of rent to own homes near you visit us RentUntilYouOwn.com.

Top 5 Benefits To Rent To Own Homes

There are many reasons to own a home: home ownership is a great investment, geographical stability usually translates into financial stability, owning a home means building personal equity instead of the equity of a landlord etc.

This article is not about the benefits of home ownership, but the benefits of becoming a home owner through the increasingly popular rent to own financing option. Very few potential home buyers are aware of the incredible benefits that await them through this financing route.

Try before You Buy

In most industries, consumers are allowed to try a product before they buy it. It has only been recently, with the adoption of the rent to own model, that prospective home owners are now able to “try before they buy”.

Because most Lease Option contracts are 12 – 36 months, and because most of those contracts do not obligate the tenant to purchase, prospective buyers can essentially test the home before fully... to continue reading please click here.

To search free listings of rent to own homes in your area visit us now at RentUntilYouOwn.com.

 

The Pros Of Rent To Own Financing

If you are a first time home buyer, or someone who has never heard of rent to own financing before, you may not be fully aware of the advantages of this type of home financing option. Financing a home, through a rent to own option on a lease, is becoming more and more popular as a means to satisfy buyers who need an alternative way to finance their home, and as a means to help those home sellers who are having trouble selling in the current market.

If there was ever a time to get involved in rent to own financing, now would be that time. Take a look at some of the pros that are listed in this article to help you get a better idea as to some of the options that rent to own financing can open up for you...

For more information, and to find some rent to own listings check out our website atwww.rentuntilyouown.com. 

To continue reading this article please visit the full page post click here

Is Rent To Own The Right Option For Me?

Ever since the housing market crash of 2008, more and more home sellers are finding creative ways to market their homes to perspective buyers. One of the more creative financing options that has come about as a result of the saturated home selling market, is the rent to own financing option.

While this exact method has been used since the late 1960s, it is gaining in popularity because it offers a win-win situation for both the home buyer and the home seller. That being said, very few prospective home buyers are aware of this particular option.

This article will help you to decide if the rent to own option is right for you. 

To read the full article check out our blog post by clicking here: Is Rent To Own The Right Option For Me?

To search for rent to own home listings near you, visit our website RentUntilYouOwn.com