Rent to Own Leads to Home Ownership 2017-11-12T01:22:28+00:00

Welcome to the New Path for Home Ownership

Rent to Own

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

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! 

Featured Rentals 

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

1. 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.

2. Purchase price:

The purchase price is set according to today’s market, not in the future when the option to buy is exercised.

3. 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.

Contact Realtor Ray McCurty
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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