|WHY RENT? WHEN WE ARE WILLING TO SELL YOU A HOME FOR THE SAME COST SMALL DOWN PAYMENTS WITH OUR LEASE/PURCHASE PLAN AS LITTLE AS $3000.00 DOWN.
Banks are not lending money very easily at this time. We will provide financing so you can purchase your home. You may find you can purchase one of our homes for less than the cost of renting a similar home from someone else.
We are willing to rent these homes under the right circumstances, but our primary goal is to help people become homeowners. If you can obtain financing from another source allowing us to receive our equity within 12 months we will sell you the home for $2,500.00 less than the quoted price.
We require a minimum down payment of $3000.00 if you desire to purchase one of our homes. This lets us know you are serious about making a purchase. Your payment may be less than rent on a similar home in the same neighborhood.
We require payments to be made through an automatic transfer from your bank to ours. Several of our customers make their payments weekly instead of paying monthly. It is easy to set this up. The automatic payment save us time and money and eliminates many of the issues landlords find frustrating. Lessees have also told us they find this easier than having to come up with a larger payment once a month.
We offer two options for financing. Both require a down payment far less than the 20% currently require.
- You choose to purchase immediately and sign the purchase agreement. We provide the financing through a land contract agreement. You get to deduct the interest portion of your payment.
You are responsible for making the property tax payments and get to deduct the cost of the property taxes on your income tax return. You are responsible for insurance on the property.
The cost of property taxes and insurance are incorporated into your payments.
We will finance your home for 5 years and then require you to get bank financing.
- We also offer an option where will rent your home for the first 24 months with an option to purchase it at any time. After making a $3000.00 payment we will credit a portion of your rent towards the purchase. This payment is not refundable if you do not follow through on your commitment to purchase the home. Once you make this payment we will credit 30% of your rent towards the purchase price for the first 24 months. If you make a larger down payment we will credit a larger portion of your payment toward the purchase price.
After 24 months you will have accumulated a credit worth several thousand dollars to be used as a down payment towards the purchase of your home with conventional financing.
If everything has gone as planned for the first 24 months we would consider offering financing at this point for a longer term.
We do run both credit and criminal background checks on serious applicants. We charge $25.00 for this service. We don’t require perfect credit. We realize people may have had some problems in their past.
We will not pay too much attention to an isolated problem that occurred in the distant past. If you have had repeated problems with your credit or with law enforcement, we will most likely not be able to do business.
We want to make sure you have adequate income to make your payments. We look for a stable employment history and people with more than one income source.