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Rental To Own/Rent

120

4 Bedroom 1.5 Bathroom Cape Cod
Joppa, MD

Top Floor: 2 Bedrooms and 1 Full Bathroom.

Main Floor: Living Room, Eat-In Kitchen, 1 Half Bathroom, 2 Bedrooms, Wood Fireplace, Sunroom

Basement:
Half Finished; Half Utility/Work Room, Walk Out To Yard

Back Yard:
Large Deck, Asphalt Driveway, Coy Pond

Resident Responsibilities: Electricity, Water, Sewer, Cable, Trash Removal, All Repairs

School District:
Joppatowne Elementary, Magnolia Middle, Joppatowne High

Click Here To View Our Virtual Tour

*The House Is Currently Undergoing Renovations-Pictures May Not Be Accurate*

To Rent: $

Rent To Own: $

Lot Details:

This property is being subdivided and there will be 3 homes built around this existing house.  Below is the layout and the property inside of the yellow box is the layout for 411 Trimble Rd.  We do have a larger plan that we can show you at which time you view the house.

The home needs some tender loving care on the interior.  It needs some drywall repair, paint, and other minor repairs.  We are willing to give you credit towards these repairs if you do them yourself.   

Rent To Own Terms and Conditions:

Benefits of Rent To Own:

  • Easy way to own a home
  • Payment History- We report to the bank that you are able to pay
  • Each payment lowers the purchase price
  • When the term is over, buy with a refinance
  • Move in faster than applying for a loan 
  • Gives you time to build your credit while earning equity in your home

Rent to own is a great way to purchase a home.  It gives you the ability to build a payment history and move into a house much easier than qualifying for a new mortgage.  During the term, a portion of the monthly payment is credited towards the purchase price of the home.  To a bank, this may qualify you as having equity in the home.  When the term is over and it is time for you to purchase the property, the banks may allow you to refinance the property. 

The way it works when you do a Rent to Own with us is as follows:

You put down a $5,000.00 deposit (this may be negotiable), your payment per month is $1,700.00 and you will earn a fixed credit of $300.00 per month that will go towards the principle.  The length of the term varies per each individual situation.  The price that you will pay after the term is $270,000.00. 

The numbers:
 $270,000.00 purchase price
-$    5,000.00 initial deposit
-$    1,800.00 monthly credit after living there for 6 months
 $263,200.00 final loan amount

 

Your Responsibilities:

  • Paying all utilities
  • All repairs
  • Paying the monthly payment on time to receive monthly credit
  • Making the effort to build or rebuild your credit to qualify for a bank loan-Our Bank Is Willing To Help With Any Credit Issues You May Have.

 

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Contact Us @ 410-838-0355.

 

Not Ready To Purchase, We Also Have Rentals Available Click Here

 

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