A number of you have been asking me about the rent to own / lease purchase program I’ve been mentioning here and there so I wanted to share some information to better educate you all on how YouTooCanLiveTheDream… Even when you either don’t qualify for a traditional mortgage OR you simply aren’t ready to commit otherwise. Perhaps you simply want to try before you buy? Not quite sure about a neighborhood or school district? Give it a whirl for a year and then walk away FREE AND CLEAR with no obligation to purchase, continue to lease, or loss of your deposit if it’s not the one!
The Nuts And Bolts: – You choose from any of the 1000’s of homes available for sale in the MLS… Just like any other homebuyer.
- The home you want to rent is purchased for you and you sign a lease, 1 year at a time, to rent the home.
- If you want to purchase the home, you have up to 5 years to either renew your lease or obtain a mortgage through the lender of your choice to do so.
- If you don’t want to purchase the home, you are not obligated to do so at ANY time.
- There are no outrageous deposits, no non-refundable fees, or hidden costs!
- Only the best school districts in Atlanta qualify.
There are numbers of success stories from my own clients that have used the program but thought this video about a family in Tampa was a great share!
- All occupants over 18 must complete an application
- Minimum gross household income must be at least $50,000 per year.
- Must be able to afford a minimum rental payment of $1250 per month.
- Must be able to pay a refundable deposit at lease signing equal to 2 month’s rent.
- No evictions, eviction filings, or apartment collections
- Minimum credit score of 525
- Chapter 7 bankruptcy must be discharged prior to application
- No felonies within the past 7 years. Beyond 7 years, no felonies that are violent crimes, sexual offenses, or drug distribution.
- Self employed… No Problem! You must have Profit & Loss Statements to support your income.
- Just got a brand new job? Simply provide your offer letter and you’re A-OK!
But as always, feel free to call, text, or email me for more information to get you and your into your new home this summer!