What is Rent to Own a home and more importantly,
How does a Rent to Own benefit you?
"Rent to Own" is sometimes called "Lease with Option to Buy" or "Rent with Option to Buy" and is sometimes called "Lease Purchase" or "Owner Financing".
Credit Problems Happen to Good People!
Renting a home with Option to buy solves the problem of not being able to qualify for bank financing to purchase a home. There are many reasons that a bank can turn down a buyer; Sometimes the buyer doesn't have a big enough downpayment, not enough time on the job, credit wrecked due to illness, injury, divorce, etc. Bad credit often happens to good people, and sometimes it just takes a few months to bring the credit down, and years to rebuild the credit.
Layoffs, injury, divorce and other life events may hurt the credit, but often the individual bounces back and has the income to pay a mortgage and get a bank loan. However, the bank just can't seem to understand that if you can afford a rental payment and have good rental history, then you're trustworthy enough to make a mortgage payment.
Herein lies the problem: There were financial problems in the past, you're rebounding and on the way back up, you and your family deserve to live in a beautiful home and get out of renting, you can afford the monthly payment, but the Louisville banks and Louisville mortgage brokers say "No. Come back in a few years after you fixed your credit."
How we can help you - The "Rent to Own" Solution!
And that's where YourNewHomeToday, right here at home in Louisville, enters the picture. We specialize in beautiful homes. You can move in to your new home within days, even with credit problems, without having to jump through all the flaming hoops required by banks and mortgage brokers. Many buyers have gotten the keys to their new beautiful home within 24 hours of first contact with us. This really works and we have many testimonials from real families right here in the Louisville area. The Rent to Own program locks the home in to you. You move in now, and have the right to buy the home at any time within the option period. The option period is usually 1-2 years, which is plenty of time to overcome credit problems, time on the job issues and other barriers to getting a loan.
If you're currently renting, can you go to your landlord and demand that they sell you the home you're living in? Are they obligated to let you buy it? No!
With our Rent to Own program, we are obligated to sell the home to you. You don't have to fix your credit before you move in to one of our beautiful homes. First you move in, then you can take your time to properly fix your credit so you can get a low interest home owner loan, and buy the house outright.
Right here in the Louisville area, we have helped many people out of renting and into home ownership, and wed love to help you, too.
If you have any questions at all, please call us at (502) 894-9133. We'll answer all your questions.
Click here to view our available beautiful Rent to Own properties.
Click here to email us any questions you may have.
