Rent To Own Terms and Conditions:

Benefits of Rent To Own:

• Easy way to own a home
• Payment History
• 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 qualifies you as having equity in the home.  When the term is over and it is time for you to purchase the property, the banks will allow you to refinance the property.  This will put you in a much better position then if you had to get a new loan.  The way it works when you do a Rent to Own with us is this:

You put down a $5,000.00 deposit, your payment per month is $1,250.00 and you will earn a fixed monthly credit of $50.00 per month that will go towards the principle.  The length of the term is for a minimum of 12 months to maximum of 36 months.  The price that you will pay after the term is $165,000.00.  (These numbers are meant to be an example only, prices and terms may vary)

The numbers:
 $165,000.00 purchase price
-$    5,000.00 initial deposit
-$    1,800.00 monthly credit after living there for 36 months
 $158,200.00 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

For more information call us at 410-838-0355.