If you have looked into purchasing a home in the past three to four years, you have probably run into road block after road block with credit, income, home equity and downright denials. Rent to own homes removes the pressure from buyers and sellers that want nothing more than to just buy or sell a home. Trying to fix the problem of the housing crisis has turned into a regulation nightmare and many have found that the lease option has many benefits.
Financial institutions are not willing to take a chance with potential homeowners that are not squeaky clean in the credit department. How soon they forget that it was part of their doing that brought about some of these unattractive credit scores by loaning people money that could never possibly pay it back. Rent to own homes is an easier avenue to take in avoiding some of the financial institution's harsh rules, plus new government regulations.
With a lease to own arrangement, potential buyers are also spared the scrimping and saving of as much as a 20% down payment on a home purchase. Sometimes as little as 5% or counting a portion of the rent toward the required amount is all that is needed to enter into a deal. With the cost of food, transportation and other essential items on the rise, saving thousands of dollars can seem impossible.
Furthermore, obtaining a house for rent by owner property is also going to let you take it easy on your credit for a while. A good number of people have actually found that looking into rent-to-buy homes has permitted them to either continue fixing any of their credit problems or even establishing credit in the first place in order to obtain a loan.
There are a lot more reasons why rent-to-buy homes are hot than the three mentioned above. Yet even with these three reasons alone, you can easily tell that rent to own properties just feature a lot more benefits than buying a home in a traditional manner that would include a down payment and the requirement to first have to qualify for a home loan. If you find yourself struggling to qualify for a home loan, then you should look into rent-to-buy homes.
Financial institutions are not willing to take a chance with potential homeowners that are not squeaky clean in the credit department. How soon they forget that it was part of their doing that brought about some of these unattractive credit scores by loaning people money that could never possibly pay it back. Rent to own homes is an easier avenue to take in avoiding some of the financial institution's harsh rules, plus new government regulations.
With a lease to own arrangement, potential buyers are also spared the scrimping and saving of as much as a 20% down payment on a home purchase. Sometimes as little as 5% or counting a portion of the rent toward the required amount is all that is needed to enter into a deal. With the cost of food, transportation and other essential items on the rise, saving thousands of dollars can seem impossible.
Furthermore, obtaining a house for rent by owner property is also going to let you take it easy on your credit for a while. A good number of people have actually found that looking into rent-to-buy homes has permitted them to either continue fixing any of their credit problems or even establishing credit in the first place in order to obtain a loan.
There are a lot more reasons why rent-to-buy homes are hot than the three mentioned above. Yet even with these three reasons alone, you can easily tell that rent to own properties just feature a lot more benefits than buying a home in a traditional manner that would include a down payment and the requirement to first have to qualify for a home loan. If you find yourself struggling to qualify for a home loan, then you should look into rent-to-buy homes.
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For more information on rent to own homes read this detailed lease options article. You can also visit RealtyStore to search lease to own homes nationwide.
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