What is Rent-to-Own?
What is Rent-to-Own?
Rent-to-Own Option
Our Homes are For Sale or Rent-to-Own, meaning: you can buy with your own loan, or if you need time to get a loan you can Rent-to-Own which means you are renting or leasing with the exclusive option to buy. Giving you time to work on your credit while you live in the home without having to deal with banks or qualifying for loans before you move in.
The Terms
- Rent-to-Own
- Lease to Own
- Lease With the Option to Buy
- Lease/Option
All the above terms basically mean the same thing. It means you are entering into an agreement to rent or lease your new home with the option to buy it at a later date with cash or your own loan. You do not have to buy the home (as no one can force you) but you do have the exclusive right to buy it at the agreed price during the option period according to the agreement! Most buyers enter into a rent-to-own agreement so they can get into the home they eventually want to buy without having to deal with banks or qualifying up front. It gives them time to build or clean up their credit while renting the home they eventually want to buy.
Frequently Asked Questions
How Much: Whether you choose the for sale or rent-to-own option, depending on the home and circumstances 5% to 10% of the purchase price of the home is what we typically receive, but in some cases, we can work with less. Tell us how much you can put towards the Option Fee now and if you can put more down on a monthly basis and we’ll see if we can work something out! The more you can put towards this option fee the better! This information along with a few other factors help us to pick the best potential buyer. We want you to succeed and will work to help you get into a home!
Why not just buy?: In this day and age many good people just cannot qualify for a loan especially with the banks changing the rules about how much you must put down (sometimes 20% or more) and raising the standards of your credit history. Some people may not have any credit history as in the case with first time buyers or those who are self-employed. Bad or low credit sometimes comes from having a recent divorce, medical bills, hard times, self-employed, bankruptcy or even just a few financial problems which can keep them from qualifying; or if they can qualify it puts them in a higher interest rate bracket with the bank loan. Some of our Buyers just have their money tied up in a business or other areas or investments and can’t use it to qualify for a loan. And some just don’t have their credit built up enough! If you rent-to-own a property and keep your payments current and on time; you are building a good credit history. It can show the banks that you are a better risk because you already have a history of living in the house you are interested in buying with their loan.
Why Rent-To-Own?: Renting or Leasing with the Option to Buy a Homes can make a lot of sense if you are currently unable to qualify for a home loan. You’ll have time to improve a low or non-existing credit rating while you enjoy the peace of mind of knowing that you have effectively taken the home off the market that you plan to eventually purchase. Lease with the Option to Buy Homes have been our primary selling focus since 2008. We are proud to announce that we provide potential home owners with even more opportunities to find and purchase their dream home. When you enter a Lease/Option to Buy agreement it means that you don’t need perfect credit to move in. You can live in the home you want to buy while working on your Credit. You enjoy the benefits of living in the home you will eventually be purchasing with your own loan. To eventually be able to take advantage of better interest rates and great deals to be had in the housing market; here’s what you need to know before becoming a homeowner.
- Put more money down on the home. Making a larger down payment of 10% to 20% or more of the homes purchase price can be a smart move. Having a larger down payment will show lenders that you are responsible, and may make getting a loan easier.
- Clean and Build your Credit Up! A-1 House Solutions can help you build and get you help to repair your credit. Just ask us how!
- Plan to stay longer. A home is not the short-term investment it once was. A better plan is to buy with the long term in mind. It’s hard to predict where the housing market will go, but buying a home instead of an investment is always a smart move.
Testimonials
Ted made one aspect of a messy divorce so much easier. He took all the stress involving selling the house away and made it a smooth and seamless process. He took care of repairs and paperwork. All I had to do was empty the house. I highly recommend his services as he doesn't just treat you like another plot of land but like a family friend trying to help you out. Thanks for everything Ted!!!
A-1 House Solutions and I entered into an agreement to get my property bought. It was necessary to move quickly and expectations were high. A-1 House Solutions and their associates were very up front with the details and answered all (many) questions plainly and quickly. A-1 House Solutions were able to accomplish what we set out to do quickly. It has been a pleasure dealing and doing business with them.
I needed to move fast. A-1 House Solutions was able to buy my house that day and I even got some moving money.
- I just finalized my divorce and could not get a loan to buy a house until all the financial logistics were finalized by the courts. By renting to own I can live in the house I want until I have the time and means to buy it.
Thank you sooooo.. much....... It is a relief knowing that you are out there, helping people like us.
I just wanted so say thank you for giving me relief from my mortgage debt. You guys have helped me. My stress level has dropped enormously. My blood pressure is finally getting back to normal. Thank you!
During my recent interaction with A-1 House Solutions, I have been very satisfied. They were businessmen who honored all promises and were very prompt when meeting deadlines. I could not believe their integrity and honesty in our business transaction. It is unusual in today's world to be able to trust people who tell you they want to assist you in selling or buying property. They have proven themselves to be men of character; therefore, I would recommend their company to people who have the need to purchase or sell property. They have been the "solution" that I needed to sell some of my property. If you have need of their services, please contact them. Their services have proven to be a valuable asset to me.
After dealing with two different companies. It was A-1 House Solutions that got the job done!
I would recommend you to anyone; whether buying or selling! You were very understanding and helpful. When I was in a jam; you helped and did everything you said you would…and fast! Thanks so much!
Really enjoyed meeting Ted and Cole of A-1 House Solutions. Working with them was Quick, easy and a blessing. Thank You
Pleasant and thoughtful.
Thank you for the opportunity to be first time home-buyers!
Ted was easy to work with and very knowledgeable. He made the process go fast and flawlessly. I would recommend him to anyone in the future. Thank you.
After living in the home for a year, I had built up my credit score to where I could get a loan from a bank.
I appreciate the opportunity to make this property my forever home. You have been great to work with and easy to talk to. I look forward to fixing this home and personalizing it.
Thank you for giving us a chance to be homeowners.
