Archive for the ‘Leasing Renting’ Category
Becoming A Home Owner With A “Rent To Own” Home Program
February 2nd, 2012 | 
Author: Folks with poor credit have difficulty securing house financing via a normal bank mortgage, making it difficult for them to buy their ideal home, although they are highly motivated to be home owners.
The good news is there is a proven home-owning solution that involves private investors in a home ownership program typically called “rent to own“.
Rent-to-own, or lease-to-purchase, is a program where the prospective home-owner, instead of seeing their monthly housing payment go completely to rent, has a portion of their monthly cheque make a contribution to their future ownership of the home.
This is possible because a real estate investor has already committed funds to secure the property. They are prepared to help a motivated family to have an easier path to home ownership for a fair investment return.
The program has these components:
1) A Modest Down Payment. Instead of meeting a bank’s requirement of 15-25% of the house worth as the down-payment (commonly found in Toronto or Hamilton in Canada) plus having a sound credit rating, the cash required can be as little as $5000 to get the process started.
2) A Fixed Selling Price. Based on market conditions and the investor’s expected return on investment (for helping the potential new home owner get involved in a home purchase) the selling price for the house is fixed in advance.
3) An One-to-Three Year Agreement. With standard payments now contributing to building equity in the house, gaining the time required to repair/improve credit so that one can eventually qualify for a traditional mortgage is crucial.
4) The Ability to Meet Monthly Obligations. A regular household revenue that covers all monthly costs (food, auto, phone, rent, etc) is key. It can be one or two wage earners in the family, but what’s most critical is the ability to meet monthly financial commitments to create a good record.
With these elements in place (an investor, an inspired house buyer, time and commitment), there is a good opportunity to make a Win-Win situation: a motivated family realizes home ownership earlier than later and an investor realises a safe ROI.
Liberty Property Services goal is to helping Ontario home buyers sell and purchase houses through innovative rent-to-own programmes
Oakleaf Plantation is an upscale family community located on the Westside of Jacksonville Florida. The Real Estate in the Oakleaf Plantation area is shared by Jcksonville, FL in Duval and Orange Park, FL in Clay county. This community resembles a small city that provides all types of recreation and shopping. If you are looking to move to Oakleaf Plantation Jacksonville, Florida. I must say that Oakleaf Plantation is an area I would encourage you to visit the Oakleaf area to tour the many neighborhoods.
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