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I
will try to keep this simple.
First we need to identify if you qualify
for our Rent to Own program. We
will send
you to our lender where they
will pull your credit report and discuss
your ability to qualify for a loan in
the next
18 to 24 months. Maybe you
have had a few bad marks on your credit
report. The lender can tell you
what
need to do in order to qualify
for the purchase of your home. If
you meet our criteria, we require a 2-3%
non refundable option fee which will be
credited 100% towards your down payment
when you execute your option
to buy the
house. In the mean time you get to
move into your new home as a renter.
You will be required to
make all the
rent payments on time just as if you
were making a mortgage payment.
You will be credited
$300 per month for
making your rent payment on time when
you execute your option to buy.
Understand that
you aren't paying $300
per month extra, you are just getting
that credit for making your payment on
time. If you
have a late payment,
all previous credits are lost and you
start over. In other words, if we
set up the option
period at 24 months,
then you would have accumulated $7,200
towards your down payment in addition to
the
option fee paid at the beginning of
the lease. If the purchase price
of the home is $200,000 and you paid 3%
option fee at the beginning of the
lease, your option fee would be $6,000.
At the end of the option period of 24
months you would have the option fee
credit of $6,000 and the rent credits of
$7,200 for a total of $13,200
which is
your down payment. Our lender, who
worked with you, will help you qualify
for the loan and you buy the home at the
end of the option period. Since
you are buying the home we would expect
that you maintain the
property and you
would be responsible for the first $200
in any repairs. If you are
ready to buying your home
with us then
click HERE
and submit your information. This
service is free and there is no
obligation on your
part. Give it a try.
Try our service for free by clicking HERE.
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