Rent to Own Leads to Home Ownership 2017-08-29T03:07:18+00:00
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Rent to Own

Rent to own is another way to go from renter to homeowner fast in San Antonio Texas. It is one of the most creative home finance alternatives if you have bad or no credit. Renters who want to buy but are not currently able to buy may be able to secure a home they want to own in the future by renting it first. This option is favored by a lot of owners and property managers because it attracts good tenants.

Rent to own home is exactly what it sounds like – the renting tenants sign an agreement with a landlord or company stating that they can buy the property at the end of a prearranged time period at a set price.

Welcome to the New Path for Home Ownership

 Are you close to being able to buy a home but aren’t quite there? Did you just move to San Antonio and aren’t sure where you want to live? Do you need to rent right now, but really want to buy a home in a couple years? A lease with a right to purchase may be right for you. You can apply to the lease to own home partners program with through me Realtor Ray McCurty.
If you’re approved I will help you find the home you want in the home program. My home partners will buy the house and rent it to you and you will have three years of rent certainty with only a one-year financial commitment on the lease. Most importantly you can purchase the home you selected from the program at a price establish when you entered the right to purchase agreement, in accordance with the terms of the agreement. This is an exciting opportunity for prospective homeowners. 

How Rent to Own Works

  •  Start the process by first talking with me, Realtor Ray McCurty to see if a rent-to-own program is the best route for you. 
  •  You will work with me, Realtor Ray McCurty to find a qualified home to buy. 
  •  Once a home is identified, my home partners purchase the qualified home.
  •  After the offer for the home is accepted, prospective tenants will be required to sign a one-year lease for the home as well as a Right to Purchase Agreement. 
  •  The tenant has the right to purchase the home at any time during their residency at the pre-set purchase price. If the household chooses not to renew the lease, they can walk away without penalty.
Making homeownership a reality for more people is the reason for this program. It is simple and bridges the gap between homeownership and renting. If you are interested to learn more about the rent to own  program reach out to me. Contact me Realtor Ray  McCurty today!

PROSPECTIVE RESIDENTS WHO MIGHT BE RIGHT FOR THE PROGRAM

 • First-time homebuyers 
• Potential homeowners who recently relocated to San Antonio and are unsure which neighborhood to live in. 
• Potential homeowners who cannot obtain a mortgage
The dream of owning a home can be a reality with a Rent to Own Purchase program. Stop dreaming about homeownership and start living! 

Addressed issues in the rent to own agreement are as follows:

  • Down payment: There may be an earnest money deposit required. This is money held by a title company & kept in escrow until the option to buy is exercised.
  • Purchase price: The purchase price is set according to today’s market, not in the future when the option to buy is exercised.
  • Legal title: The tenant becomes a purchaser only upon exercise of the option to buy. This means the title will remain in the owner’s name until the landlord-tenant relationship ceases and the option becomes an absolute and binding contract of sale.

There are benefits for both sides in this type of transaction. The homeowner continues to receive rental income and gets to have the income tax deductions as long as they own the home. For the buyers, who will be the ones doing the rent to own home program they get more time to qualify for mortgage financing and depending on the agreement, receive a portion of the money paid as rent reflected toward the home sales price. Not to mention the joy of knowing soon the home will be theirs.

If interested in this type of alternative home ownership, please contact me so we can discuss it further. I will be happy to answer any questions you have about a rent to own home program and will be able to help you throughout the process.

Rent to Own

Upfront Costs To Buying a Home

Only an example with the minimums:

  • $500 earnest money
  • $100 Option Fee
  • $400 home inspection and termite fee
  • $400 appraisal fee
  • The down payment amount varies from 0% if going with a VA or USDA home loan with a minimum 3.5% of the house price for a FHA loan and 5% for the conventional loan.

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Rent to Own

Upfront Costs To Buying a Home

Only an example with the minimums:

  • $500 earnest money
  • $100 Option Fee 
  • $400 home inspection/termite fee
  • $400 appraisal fee
  • The down payment amount varies from 0% if going with a VA or USDA home loan with a minimum 3.5% of the house price for a FHA loan and 5% for the conventional loan.

Warren Buffett, chairman and CEO, Berkshire Hathaway Inc.

“I would want to be associated with somebody where the financial strength was unquestioned and where the name stood for integrity. What other quality would you want that Berkshire Hathaway HomeServices does not have; and I don’t think you could find one.”

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