Renter Information
What's preventing you from owning your own home?
Is it credit issues?
Did you think it was too expensive?
Did you think you could not afford the downpayment?
Well, with our Rent to Own process (also known as a Lease Purchase process) home ownership could be closer than you think.
Now is the best time to begin the process of owning your own home.
The BASICS
With the recent drop in home values in Tucson and the lowest home mortgage interest rates in the last 40 years,
if you don't already own a home, now is a great time to start on the road to home ownership.
Here is a summary of how our process works:
- Buyers should have a combined household income of $3,000 or more to qualify
- Buyers should not have had a foreclosure or short sale in the last 3 years
- Buyers are prepared for a purchase which may be preceeded by a 3, 6, 9, or 12 month lease term, also known as a lease purchase
- Buyers are able to work with a lender or credit counselor to address any credit problems
- Buyers will accumulate a rent credit during the lease term which is applied to the eventual purchase/downpayment
- Buyers can enter a lease purchase without having excellent credit or a large downpayment
- Buyers that can qualify to buy before Dec 1, 2009 can receive an $8,000 first time homebuyer tax credit1
1 - Note that a "first time homebuyer" is defined as someone who has not owned a house in the last 3 years.
Why It Works
Buying a home through our Rent to Own process is EASIER than buying a house the traditional way.
Here are the reasons why:
- Smaller downpayment
- Less than excellent credit
- Rent credit back at successful completion of lease
- Mortgage counseling throughout the term of the lease
- Mortgage planning solutions that fit your lifestyle
- You will be on the road to home ownership and have all of the associated benefits (see below)
You've probably heard about many of the benefits of home ownership.
Here is a summary of these benefits.
Benefits of Home Ownership
- A place to call your own
- The opportunity to build equity
- Monthly payment toward ownership
- Present tax code provides most homeowner's with tax deductions against mortgage interest payment and property taxes
- A fixed rate mortgage loan means your no change in your mortgage payment for up to 30 years
- Long term fixed interest rates are the lowest they have been since 1973
- Home values in many areas are at the lowest in recent history
- For most Americans, over the long haul, real estate makes the largest contribution to net worth
Contact us to learn more about our Rent to Own process
or view a selection of our available properties now.
We have access to all the available homes in your area to match your housing needs.
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