Rent To Own MN

News, Tips, Information and Home Buyer Education

Houses For Rent By Owner In New Brighton – 4 Reasons Why Rent-to-Own Is Better

If you’re looking for houses for rent by owner in New Brighton, have you considered rent to own?

Rent-to-own gives you the best of both worlds… and you don’t need amazing credit to do it!

Given the choice between renting and rent-to-own, we believe that rent-to-own is often a better choice. In this blog post, we’ll look at the 4 reasons why rent-to-own is a great way to buy a house… even if your credit isn’t perfect. If you’re looking at houses for rent by owner in New Brighton then you may want to expand your search to consider rent-to-own options…

Owning a home is part of the American Dream… but it’s also very expensive. Many people are forced to rent, putting money into their landlord’s pocket while struggling to get ahead. Wouldn’t it be nice if you could “rent your way to home ownership?” You can. It’s called “rent to own” and it’s growing in popularity.

It works like this: rents from a property owner, just like normal. But their agreement is often a multi-year agreement in which they agree to purchase the house at the end of the rental term. Keep reading to discover 5 reasons why this is SO powerful…

If you want to know more about rent-to-own, or about houses for rent by owner in New Brighton, simply click here to fill out the form or call us at 612-840-6507 and we’ll make sure you have all the info you need

5 Tips About Rent To Own Houses For Rent By Owner In New Brighton

Rent To Own Tip #1
It’s pretty easy to qualify. Unlike buying a house (which requires a high credit score and down payment), a rent to own property starts off as a rental. There might be other qualifications required but, in general, it’s a much easier way to qualify to buy a house.

Rent To Own Tip #2
You can buy a house with bad credit and you have a chance to fix your credit! A rent-to-own agreement doesn’t always require perfect credit, but it does give you a chance to establish yourself and fix up your credit so that, by the time you’re ready to make the purchase, you may be able to qualify for a mortgage.

Rent To Own Tip #3
You can “try out” homeownership before you actually buy. Some renters are surprised by the difference between renting and owning. But a rent-to-own agreement gives you the ability to try out home ownership first to understand what it’s really all about without having to first get a mortgage!

Rent To Own Tip #4
You put down roots. One of the biggest complaints of renters is that they feel like they don’t have a permanent place. They’re stuck in year-to-year rental agreements and don’t feel like they have a permanent home. But rent to own agreements in houses for rent by owner in New Brighton, you AND the owner know you’re in it for the long haul because you plan to buy the house.

Summary

If you’re looking for houses for rent by owner in New Brighton, you should broaden your search and start thinking about rent to own properties, too. This is a simple strategy to help you get into a permanent home sooner, and you don’t need perfect credit or a huge down payment to make it happen!

Want to learn more about how rent to own works? Click here now and fill out the form or call us at 612-840-6507

Rent To Own Houses In Fridley – How Does It Work?

Curious to know more about rent to own houses in Fridley?

Keep reading to find out how they work and to know whether rent to own is right for you

Most people think of renting a house or owning a house… but few realize there is an amazing “middle ground” – rent to own houses in Fridley – that gives you the best of both worlds. In this blog post, you’ll read about what it means to rent-to-own and how it works.

Renting: When you rent, you pay the landlord for a place to live. As long as your rent is paid, you have a place to live.

Owning: When you own, you take out a mortgage from the bank and they give the money to the seller. You pay the bank back for their loan.

Both of these have advantages and disadvantages. But right in the middle is a great way for aspiring homeowners to get into the house of their dreams – through rent to own houses in Fridley. Here’s how it works…

First, you find someone who does rent to own houses in Fridley.

Second, you make an agreement with them to rent their house for a period of time (the length of time is determined between you and the owner, and it might be a few months or a few years).

Third, you rent until the rental period is complete and then you purchase the house for an amount you and the seller agree upon.

Click here to learn more about rent to own houses in Fridley and how we can help. Or, give us a call at 612-840-6507

  • Renting to own allows you to get into a permanent home sooner than renting the traditional way (renting one place and then buying a different place).
  • The period of the rental also gives you time to fix up your credit if it’s not in perfect shape, so that you’ll have good credit by the time you need to get a mortgage.
  • And, renting to own sometimes offers alternatives to saving up a huge down payment (for example, some of your rental payments may go toward a down payment so you’ll have less to pay when it comes time to pay a down payment – this varies, though, between each rent to own houses in Fridley).

Rent to own houses in Fridley is a great way to find a permanent place to live for the long-term, and to get into a house without the high cost of down payments… even if your credit isn’t perfect right now.

Want to see how we can help you? Want to see what rent to own houses in Fridley are available for you? Click here to fill out the form or call our office at 612-840-6507

Rent To Own Real Estate In Shoreview – What If I Have Bad Credit Or No Credit?

Looking for rent-to-own real estate in Shoreview?

The good news is – with rent-to-own, you can still live in a great, permanent home even if you have bad credit or no credit.

Rent to own real estate in Shoreview is quickly becoming a popular way to get into the house of your dreams even if your credit isn’t perfect right now. We’ll show you how it works in this blog post…

Renting and owning are the two most common methods of acquiring accommodation: With renting, you pay (usually monthly) and it’s short term… you don’t actually OWN anything. With owning, you pay back a mortgage loan and it’s long term… you actually OWN your house. There are advantages to both, and disadvantages too.

There’s a third option, which is great for people with bad credit or no credit: If you’re renting right now and want to own your own home, you might feel that you are prohibited because of your credit but rent to own real estate in Shoreview MN is the solution.

By renting to own, you move into a house, pay rent for a period of time, and then purchase that house at the end of the rental period.

Have questions about rent to own real estate in Shoreview? We can help. Click here to fill out the form or give us a call at 612-840-6507

Here’s How To Rent To Own in Shoreview (Even With Bad Credit)

By renting the house first, you get into your permanent dwelling in a credit-friendly way. Sometimes (depending on the situation), some of your rental payment may go toward the down payment or some other benefit – this varies from one property owner to the next.

While you rent, you have time to work on your credit: you’ve got a permanent address and you can work toward improving your credit.

As the rental agreement draws near the end, you use your good credit to apply for a mortgage from a bank, and then you own the house.

The details may vary from one property owner to the next but these are the general concepts involved with rent to own real estate in Shoreview.

There are really great benefits to you: You get into your permanent “dream home” sooner, even though you may not have the credit or down payment right away. And then you have a permanent address that you can use to help you improve your credit, with enough time to really turn your credit around and get a bank loan.

If you’re renting right now and want to own your home someday, rent to own might be the right choice for you.

Want to see what we have available for rent to own real estate in Shoreview? Click here to fill out the form or call us at 612-840-6507

Homes For Rent By Owner In Lino Lakes – Rent-To-Own Step-By-Step

Learn more about homes for rent by owner in Lino Lakes

… And discover whether renting-to-own the right step for you. Find out how it works here…

If you’re looking into homes for rent by owner in Lino Lakes, you’re probably thinking about renting… but have you thought about renting to OWN? In this blog post, we’ll share the step-by-step method to walk you through how it all works so you can decide if it’s right for you…

If you’re thinking about renting a home, you’re likely focused on finding a place to rent that you can call your own… but often, renters would love to move up from a rental property into a home that they own, they just might not be able to afford it.

That’s where rent-to-own comes in. With renting, you pay for a place to live for as long as your rental agreement lasts. But with rent to own, you rent a home for a while and then you buy it out-right so that you own it… and you can even do this with bad credit!

Let’s start with the benefits of why renters love it…

1. You can get into a house even if you have bad credit
2. You don’t need a huge down payment
3. You can live in your permanent dream home sooner, even if you can’t afford to buy it just yet

It’s no wonder why people love rent to own!

If you want to learn more about whether rent to own is right for you, click here and fill out the form to talk to one of our experts, or call us on at 612-840-6507

Here’s How It Works To Get Into Homes For Rent By Owner In Lino Lakes On A Rent-To-Own Basis

First, find homes for rent by owner in Lino Lakes.

Second, inquire about whether any of their houses are rent to own.

Third, review the available homes and choose one that you’d like to buy someday.

Fourth, sign the agreement, which means you’ll rent the house for a period of time (often a couple of years) with the purpose of buying it later.

Fifth, work on your credit score to improve your credit during that time.

Sixth, when your rental agreement draws to a close, use your improved credit score to apply for a mortgage from a bank and then purchase the house from the owner.

Yes, it really is that simple and it’s a great way for renters to become home owners.

Want to see what we have available in terms of homes for rent by owner in Lino Lakes that are available on a rent-to-own basis? Click here to get in touch (just fill out the form) or call us at 612-840-6507

How Does Rent To Own Homes Work in Blaine? – The Process

Rent to own a house is also called lease to own house (or a whole slew of other phrases… like “lease option”, etc.).

So how does rent to own homes work in Blaine and other parts os MN?

How Does A Rent To Own Home Agreement Work?

It is kind of similar to a car lease.

In this kind of arrangement, the renter rents a house from the owner of the house and pays monthly rental fees for living in the house. After a given period of time, usually three years or so, the renter can decide to purchase the house at a price that the renter and owner of the house agreed upon at the start of the rent to own agreement.

Of the monthly rent paid to the owner, a fraction can sometimes go towards down payment of the house depending on the local laws and guidelines. Sometimes applying part of the monthly rent to the purchase price is now against the law because of a law passed by Congress called the Dodd Frank Law.

The Rent To Own Contract Agreement – How It Works Here In Blaine

The contract the buyer and seller draw up should be very clear. You should understand the nature and terms of the contract properly before signing it.  Make sure you ask the seller lots of questions if you’re not clear about anything at all.

This arrangement has got advantages for both sellers and buyers alike… but also some huge benefits. So understand both the pros and cons so you can make a great decision for you and your family.

The Financial Parts Of The Rent To Own Agreement

First, the seller has to set the purchase price and monthly rent for the house.

The Monthly Rent

The purchase price is usually retail value for the house in today’s market.  The monthly rent is usually a bit higher with a rent to own / lease option agreement than if you were to just rent a house normally.

Why?

Because you’re paying for the ability to purchase that house at the end of the agreement and you’re locking that house down so others can’t purchase or rent it during the entire term of the agreement.

The Purchase Price

The agreed and signed price and rent is settled and locked during the entire rental period of time, which is usually between one and three years.

The agreed price doesn’t change during the agreement based on market prices in Blaine, whether they rise or fall.  That’s one of the big benefits of buying a house here in Blaine with a rent to own… that you can lock in to buy a house at a price today… and not have to buy the house for 1 – 3 years… and that purchase price won’t go up over those years.

The Option Fee / Upfront Payment

There is an option fee that the buyer pays the seller. It is a set amount of money payable to the seller by the buyer before you move into the house. This amount can really vary based on who you’re working with and the house price… but a rule of thumb is usually 1-5% of the total house purchase price is what you can expect to pay upfront to enter the agreement… and this payment is usually non-refundable if you decide to NOT buy the house at the end of the agreement.

This option of buying a house in Blaine with a rent to own agreement is very good for buyers who would otherwise be unable to purchase a house or whose credit score wouldn’t meet the required threshold for a mortgage.

For sellers like us, the rent to own opens up the potential “buyers pool” so we can help more people get into great homes.

For buyers, it lets you work toward home ownership and have that sense of pride you feel when you own a home.

The End Of The Rent To Own Agreement… What Happens?

Of course the idea of getting into a rent to own home in Blaine MN is that during the rental term… you improve your credit and financial stability so you can get a normal home loan at a bank.

So during that whole period… you should be really working to improve your credit… save up money… and work with a local Blaine mortgage broker or bank to get pre-qualified BEFORE the rent to own agreement expires.

At the end of the rental period, you as the tenant / buyer have the choice to either buy the house at the price in the agreement… or you can walk away and not buy the house just like a normal rental house.

If you choose not to buy the house, no biggie at all.  You can move out of the house and onto another house… or under special circumstances you may be able to update the rent to own agreement to give you a bit more time to get qualified for a bank loan to buy the house.

With our local Blaine Rent To Own Program our ultimate goal is to help you reach your goal of home ownership. So we can be flexible often times if you need an extra few months to get things lined up financially and with the bank to close on the house.

Just like in any other way of buying a house in Blaine, there are mutual pros and cons for both the buyer and seller.

So just do your research… keep browsing this website and check out … or give us a call anytime at 612-840-6507 or shoot us an email on our Contact page to chat with us and our local rent to own program.

Last… have you found the Blaine rent to own house that’s perfect for you yet?  If not, join our Early Property Alert List below to get email alerts quickly when we have new rent to own houses in the Blaine MN area available.

See Available Rent To Own Houses In Blaine MN Here >>

How you can find free rent to own home listings in New Brighton

Looking for a house here in New Brighton? Find resources on local rent to own homes in New Brighton MN below!

 

It’s not uncommon to see craigslist adverts that provide people with a chance to own a home with just a small payment upfront and then “earn your way” into a house over time.There are a few names for that… but “rent to own”, “lease to own”, and “lease purchase” are a few.
If you’re looking for a quality rent to own house in New Brighton… you may be wondering how you can find free rent to own home listings in New Brighton to see if you can find a house that’s right for you.
First, if you’re not sure what a rent to own house is… or the process… keep reading this website…

Renting to own a local New Brighton house can be a great option for people who are struggling to qualify for a home mortgage because of their credit or not enough cash for a large down payment.

This option benefits both the buyer as well as the seller because the former gets to move into his or her dream home quickly while the latter gets a series of long term payments and is able to sell their house to a broader pool of potential “tenant buyers”.

Finding the right rent to own home listings is New Brighton can be tough sometimes.

What we’d suggest is that you do your research and get on a few lists that show you local rent to own houses in and around New Brighton.

Places you can find these lists of available New Brighton MN rent to own houses…

  1. On This Website:  Our company, The Antonov group, is a local real estate investment firm that buys and sells houses. One of the ways we sell our houses often is on a rent to own basis.So you can join our Local Rent To Own Property List over here >>You’ll get email alerts anytime a new property is available.  A huge benefit of being on our rent to own house list for New Brighton MN houses is that you’ll be the first one to see the properties BEFORE we list them on this website. More than half of our rent to own houses never even make it to this website because they get snapped up by people on our New Brighton Rent To Own Property List.
  2. Local Real Estate Agents:  Reach out to reputable New Brighton real estate agents and see if they have any rent to own houses available. Agents tend to stay away from rent to own houses, but some area agents do offer rent to own properties.
  3. Craigslist:  Craigslist can be a solid source of rent to own / lease option houses in the New Brighton area… and the entire rest of MN for that matter. We even list some of our properties on there from time to time.One thing to look out for when you look on Craigslist though is to make sure that the person you’re renting from us actually authorized to rent you the house.  In recent years there have been scammers taking advantage of people on Craigslist… so just make sure you’re working with a house seller that you can verify is legitimate.

A Bit More Info About Renting To Own A New Brighton House…

The tougher lending standards and the declining buyer market are pushing sellers of houses in New Brighton to help potential home buyers get into houses even though they can’t qualify for a bank loan.

The way our rent to own agreements work is, you as the buyer, are given a chance to rent the property for a given period of time with an option to buy the house sometime in the future…. usually 2 years from today.

That gives you as the buyer enough time to evaluate the neighborhoods, the house, and improve your financial situation before making a long term commitment to owning the property. Families can also move into the property even when they don’t have adequate financing power.

We love working with rent to own tenant / buyers because we get a tenant who has a long term vested interest in the property and we get a consistent rental payment while you improve your credit so you can get a home loan at the end of the agreement to buy the house.

There are pros and cons to renting to own a house… which we go over on this website and in other articles… and it’s advisable that you understand the pitfalls which comes with this form of home ownership… along with the huge benefits we can offer with our local rent to own / lease option house program.

So, what are you waiting for?

Now that you know how you can find free rent to own home listings in New Brighton… now it’s time to start finding houses that fit what you’re looking for.

If you want to see what Local New Brighton Rent To Own Homes we have available… go here >>

If you have any questions about the process or just want to chat about your situation… give us a call at: 612-840-6507

We’re here for you and we look forward to working with you!

Rent to Own Home Scams in Fridley – How to Avoid Scams

Protecting Yourself in Fridley From Scammers: There are scammers marketing rent to own homes here in Fridley MN. Learn how to avoid them…

Are you starting to look for rent to own houses in Fridley?

Rent to own homes (also called lease option or lease purchase) has become a popular way of getting into a house when your financial situation has thrown your house hunt for a curve.

But, you may have heard of some of the scams out there that have left lots of honest people out thousands of dollars instead of in a home of their dreams.  Some recent tenant deposit taking schemes, mainly from predators using websites like Craigslist (which is a very legitimate website to find great rent to own houses) have made it into the news and has many would be rent to own tenant buyers nervous about whether or not the house they’re looking at is also a “scam”.

Rent to Own Home Scams in Fridley – How to Avoid Scams That Are Out There

There has been an increase in scams that are out to fleece either potential tenants or homeowners. Several forms of scams exist that have come out in recent years.

There are those scammers who take advantage of popular property buying and selling websites to scam potential tenants, especially foreigners.

They create counterfeit websites of the popular sites and put up enticing advertisements. Once a person falls for them, a series of email communication flows and the tenant makes a deposit, and that is it – once that deposit money is sent over to the scammer… it’s nearly impossible to track down who did it or how to get the money back.

The biggest scam that is out there for potential renters or rent to own buyers is described below.

Taking Deposits On A House They Don’t Own… Then Disappearing Into The Night

Some scammers are getting really smart about how they intend to part you with your hard earned money.

The biggest one today is where a scammer finds vacant properties where the owner of the house lives out of the area…

… they break into the house, take pictures, then they upload those pictures and a “for rent” or “rent to own” listing on websites like Craigslist.

The listing looks legitimate… so you go and look at it… maybe even meet the scammer face to face… they tell you there are other people looking to rent the house as well so you better put a deposit on it today… so you do.

What you don’t know is that that scammer had a whole slew of other potential renters visit the same house that day and put a deposit on the house as well.

The scammer then takes the deposits… cashes the checks… and disappears.

A version of this scam also can happen where you don’t even see the house and the scammer tells you that you may want to put a deposit on the house asap because there are others interested. So you do, even before you see the property in person, and your money is gone forever.

How To Avoid Rent to Own Scams – Some Quick Tips

Ok, so you know there are scammers out there.

Now… how do you avoid being a victim to a scam and how do you protect yourself during the process?

First off… verify that the person / company you’re dealing with is legitimate.

Our company, The Antonov group, is registered with the state of MN which you can verify online… and you can find our company listed on many online business directories where it’ll show all of our contact information.  If you’re working with an individual (a person,  not a company)… when you see the “owner”… if you feel anything is off at all… don’t be afraid to ask to see their drivers license for proof of their name and address… and write down their license plate number of their car before you leave.

So…

Tip #1: Verify the identity and contact info of the person or company marketing the property so you know they’re honest and legitimate

Tip #2: Never give a cash deposit… and never hand a deposit check over without a contract in hand to a person you’ve verified is legitimate. 

Tip #3: Don’t ever feel pressured to put a deposit down “today!” if you feel uncomfortable doing so. Trust your gut. 

Tip #4: Search the address of the property online and see if you can find the name of the owner on record. If that doesn’t match up with the person you’re working with… ask that person for proof of their identity and ability to rent the house to you. 

Tip #5: As a last resort, if you ever don’t feel right about it… just leave. There will always be more houses that will come around. 

A quick rundown for you…

  • When visiting the property, ask the Identity of the agent.
  • Avoid buying agents that are not yet established. Go for established ones.
  • Carry out due diligence on landlords websites to be sure the websites and the landlords are genuine.
  • Avoid making upfront payments until you are certain the agents or landlords are genuine.
  • Treat prospective clients whose emails are written in broken English with suspicion. You may search them in google to find out whether they have been listed as scammers or not.
  • Seek the advice of experts or the experienced in the property market.
  • When making payments, ensure you have a lawyer involved.

In conclusion, it is up to you to be diligent enough to avoid being scammed. They say when the deal is too sweet, think twice. Don’t rush into sealing deals before giving them a second thought.  Hopefully these tips will help you avoid rent to own home scams in Fridley and arm you with a new sense of confidence when you’re out there looking for your next house!

Looking For A Reputable Rent To Own House In Fridley? See Our Available Properties Below!

We at The Antonov group are one of the Fridley MN area’s leading rent to own house experts.

If you have any questions about the rent to own process or just want to see if renting to own a house is right for you… don’t hesitate to reach out to us by giving us a call at 612-840-6507 or email us on our Contact Page.

Plus, see the Fridley rent to own houses we have available and get on our Early Alert Email List to see new rent to own houses as they become available.

See Available Local Fridley Rent To Own Houses Here >>

Rent 2 Own Homes Shoreview – what’s the catch?

Looking for a local rent to own house but aren’t sure how it works or if there is a “catch?” Read this article to discover what you need to know about local shoreview rent to own houses…

In the real estate market today, it is very tempting to follow through on one of those ads in the local paper or on Craigslist that are practically screaming the great deal of rent 2 own homes in Shoreview. 

This option can be a win-win for both parties, but is it always the best method to get into a great house?

Sure, you can’t sell your home right now, or if you’re the buyer, maybe you aren’t able to receive a home loan with bad credit.

You could be in a great home that you love and feel a sense of ownership (more than if you just rent a house the normal way) sooner than you thought!

Although, it is always recommended to ask these questions below when meeting with your possible rent to own seller.

Here’s a few important (smart) questions to ask a local Shoreview rent to own house seller

“What is the length of the option to buy the house?” 

With a rent to own house agreement (also called lease option home) it’s usually two parts. First, a normal rental agreement. Second, the option to buy the house at a pre-determined price at a date in the future. Usually the timeframe is a minimum of 2 years.Anything less and you may not reach the credit score goal that you’re aiming for to purchase the home. You need this time to weigh your options and to see if things are looking up for you in the future. Of course the longest option agreement timeframe can be the best for you… to give you more time to get back on  your feet credit wise or financially so you can get a traditional home loan.

“How much of my rent will be put toward my purchase price?” –

You can read horror stories all over the internet about how some tenants were strung along thinking that they were paying a higher percentage than what they actually were for their future home among other factors with this option.Ask the seller!Recent federal laws have made providing “down payment credits” from your monthly rent very hard… if not illegal in some areas and situations. Usually the monthly rent on a rent to own house in Shoreview is a bit higher than the monthly rent on a non-rent to own house (because you’re paying for the chance to purchase the house at a pre-determined price which ties the seller down as well).  So just make sure to ask the seller if any portion of the rent is able to be contributed toward the purchase price if you do decide to purchase the house when the option is up.

“Who is responsible for repairs and damages on the property?” –

This will be depend on the agreement.  It can really vary.Generally, you as the renter are responsible for general maintenance and upkeep… and for minor things (the first few hundred bucks in a repair). But if it’s a larger repair that wasn’t your own fault… often times the house seller / landlord is responsible for the remainder of the repairs after the first few hundred. Again, this varies with every seller.If you’re working with us on looking for rent 2 own homes in Shoreview… we’ll walk you through how our rent to own program works and answer any of your questions anytime.

“If I’m not able to reach my goal after the option period, can I extend?” –

For tenant buyers who work with us… we’re usually very flexible in working with you to help us both reach that ideal end goal… of you buying the house! :-)As long as we can see that you’re on track to make things work… and the extension makes sense for both of us… we’d be happy to work with you on making your dream of home ownership a reality.If your future seller is honest and fair, they will give you this option. It’s always good to have backup.  Do your homework and make sure you talk to the seller of the house FIRST and ask them these types of questions before you sign on the dotted line.

“I don’t have the best credit score. What do I need to do to lock in this home?” –

Again, any reputable Shoreview MN rent to own house firm like The Antonov group will help give you resources and connections to help you increase your credit score while you’re renting the home from us.This may include a referral to a reputable and honest , Shoreview mortgage broker… credit counselor… or even our own internal guidance along the way may be an option.  Of course we realize that many of the tenant buyers who work with us on getting into a Shoreview rent to own house have bad credit. That’s OK.  We’re experienced in working with that situation.But as always, we have to protect our investment as well and we’ll only work with a tenant buyer if you show that you’re committed enough today and a safe enough bet that you’ll consistently pay the rent on time and have a great chance of actually qualifying to purchase the home when the option agreement is up.

Last, but definitely not least,

“May I take a copy of the rent to own agreement to my lawyer?”  –

The answer should always 100% of the time be “YES!”  If you’re working with a landlord / seller of a rent to own house here locally that tries to guide you against running your agreement by your lawyer or CPA (or other trusted advisor) you should RUN THE OTHER WAY.Nothing in the agreement should be hidden or glossed over. There are some really important elements in a rent to own / lease option agreement that you really should be aware of… and we want to walk you through the agreement line by line before you sign, so we’re both fully on the same page and can go into this with confidence and trust.So, make sure that you do take some time to review the agreement to make sure you understand it and how it works.  Any reputable rent to own seller will help you understand the agreement and encourage you to run it by a trusted advisor of your own.

So, What’s Next? Seeing Available Rent 2 own homes in Shoreview

With these six tips, it should be fairly easy to weed out the good sellers from the shady ones.

It’s always harder to find the better ones… the reputable ones… with REAL rent to own homes with a great seller behind them.  When you do find a great rent to own house seller, you won’t be sorry that you went the rent 2 own route like so many others do.

So, your next step may be to dive in and see available rent to own homes in [market_city] [state] right?

If you haven’t started your rent to own / lease option search… START HERE!

Simply fill out the short form on that page and start your search to see what we currently have available.

Our rent to own houses in Shoreview tend to get snapped up fast… so be sure to get on our list and open the email alerts we’ll send from time to time when a new rent to own house becomes available.

Get On Our Local Shoreview Rent To Own House List Here >>

Also, if you’d rather chat with someone about our program or about your situation… call us anytime at 612-840-6507 or shoot us an email through our Contact Page.

We’re here for you and we look forward to working with you ?

The Costs of Rent to Own Housing – For the Blaine MN Area

Owning a home — it’s part of the American Dream!

Home ownership gives a sense of freedom, security, and permanence.

Americans dream of growing up, finding a home, and starting a family; they dream of owning their own piece of land and proudly knowing “it’s mine.” Millions of families want a nice home, a white picket fence, a place to rest after a hard day of work, and a place to raise their families.

It’s no wonder that pioneers and settlers came to America to escape the over-crowded rental slums of the Old World and to tame and claim their piece of this vast land. Even today, newcomers to America are attracted here in part because of the opportunities for a better future — which includes owning their own home.

The American Dream Is Changing…

While home ownership continues to be a high priority among many Americans, the American Dream is evolving. There’s still plenty of land and places to live, but it’s evolving for other reasons:

  • There’s the growing number of Americans with credit problems — perhaps due to debt or poor choices or difficult circumstances or even just low paying jobs.
  • There’s the growing number of banks that reject loan applications because they don’t meet the bank’s tightening loan requirements.
  • There’s a trending increase in the number of lower-paying jobs, while higher-paying jobs are vanishing or being outsourced overseas.
  • And the economy is on shaky ground, with one recession barely over and another one threatening to strike.

Although these might not be ideal circumstances, this is the reality we live with. As a result, two things are happening:

  1. House buyers are trying to find creative ways to acquire a home to live in, even if their credit isn’t at the level that a bank is looking for.
  2. House sellers are trying to find creative ways to sell their house because there aren’t as many buyers.

This creativity has led to a new opportunity for people to buy houses even when they may not be able to apply for traditional loans. And that’s how the American Dream is evolving: people still want to own homes (and can!) but there are new ways of buying those homes…

Rent to Own Housing in Blaine and Other Areas

In a traditional house purchase: the buyer goes to a bank, pays a down payment, and gets a mortgage loan for the remainder of the amount owed on the house they’re buying.

In a rent to own agreement: the buyer who may not have perfect credit works directly with the house seller — to rent a house for a period of time while they build up their credit so they can quality for a mortgage loan.

This works well for everyone!

  • For the seller, it gives them access to more potential buyers.
  • More importantly, for the buyers, it creates a new way to get into a house sooner — a permanent address in the house you’re likely going to buy, a sense of ownership before you even own the house, and an opportunity to work on your credit.
  • Banks love it because it means more people can qualify for loans, too!

Just imagine: if you’re someone who wants to own a home but you can’t get a traditional bank mortgage right now, you might have thought that living in a permanent home was years away. Well it doesn’t have to be: you can get into your permanent home now, enjoy the sense of ownership right away, PLUS you’ll have a stable address (which can help to contribute to a higher credit score).

Want to see what houses we have available for rent to own in Blaine? Click here and enter your information and we’ll show you what’s available.

What are the Costs of Rent to Own Housing in Blaine?

In a rent to own agreement, a buyer would move into a home, paying rent, and building credit towards a down payment to ultimately purchase the home. This is a valuable option for families who may not have the necessary credit score to get a traditional mortgage.

The price varies widely, depending on a number of factors, and each rent to own arrangement will be governed by the details described in the agreement. But in general, this is what you’d be looking at…

First, you’ll pay a regular rental amount (just as you would if you were renting anywhere). This amount goes towards the rent and upkeep of the property, just like a regular rental.

Second, the costs of rent to own housing in Blaine may be higher in some areas… but for a very good reason. In some cases, rent to own rental amounts may be slightly higher versus rental rates you get elsewhere, and this is influenced by a few things — such as the neighborhood the house is in, the condition of the property, the length of the rental period before purchase, etc.

As well, there’s the lease option portion of the agreement, which allows you to buy the house at the end of the rental term. This is built into the cost of rent and, in some cases, a portion of your monthly rent will be applied to a down payment on the home. (Check with the landlord because this is not always the case).

Example: You rent a house for $1,000 even though other houses in the area rent for $900. This extra $100, though, is applied to your down payment and accumulates month by month for 3 years until you are ready to purchase the house.

Important: these vary from one rent to own seller to the next, so make sure you talk to the seller about how the costs of rent to own housing in Blaine when you’re looking to buy.

While it’s possible that in some cases you may pay slightly more to rent to own a home each month, the savings in the long term could be significant. This is because many sellers will set a predetermined price on the house, locking in protection against housing market fluctuations.

Example: You’ve agreed to rent-to-own a home for three years, before exercising your option to purchase. You come to an agreement with the seller on a price at the end of that term of $200,000. Let’s say that at the end of your rental term, the housing market becomes extremely competitive and surrounding homes are selling for $300,000. As a buyer, you’ll be saving $100,000 on the cost of your new home simply by renting to own and locking in the price.

Rent to own — it’s a great new way that families are getting their own piece of the American Dream even when circumstances have prevented them from doing so in the past.

Want to learn more about our rent to own program or find out what the costs for rent to own housing in Blaine are? Click here now and enter your information or call us at 612-840-6507 and we’ll be happy to walk you through our process.

Things To Look For When Renting To Own A Home In Lino Lakes MN

Renting to own a home in Lino Lakes, or any city for that matter, isn’t a new concept… but the whole process of “renting to own a house” is a process that most people have questions about.

Well, you’re in the right place!

This article will walk you through what to look for if you’re looking for Lino Lakes rent to own houses.

1. Find The House You Want To Live In Long-Term… Not Just Rent

A lot of people who are deciding whether they should just rent or “rent to own” look at the whole rent to own / lease option process in the wrong way. Don’t look at it like you’re looking for a house to rent for a little bit.  Of course, you should find a house that is one you’d love to live in for a longer period of time (no less than 5 years).

Why?

Because with rental houses, you know it’s a temporary thing… so you’ll settle for a house that is less than ideal.

But since you’re really looking to get a house to live in for years and years with a rent to own… it should be one that you can see your family in for years.

Yes, you’re renting a “rent to own” house… but you should choose a house you’d be glad to live in for years just in case you do exercise the purchase option at the end of the lease term.

2. Terms That Fit Your Goals And Needs as A Lino Lakes Home Seeker

Not all rent to own houses in Lino Lakes have the same contract that goes with them. So make sure to find out the terms of the rental agreement and the terms of the purchase option as well.  Usually the monthly rent tends to be a bit higher with a rent to own agreement vs. a normal rental agreement… because you’re basically paying a premium for the ability to potentially purchase that house at a pre-determined price in the future. There’s a lot of value in that.

But with rent to own agreements you should also have some flexibility that protects you. Make sure there are no fees for not exercising the purchase option at the end of the agreement.

Also clarify with the owner of the house on who will pay for things during the rental term like…

  • Maintenance
  • Lawn care
  • Insurance
  • Repairs
  • Upgrades inside the house (new appliances, paint, etc.)

Get it all in writing who’s in charge of these kinds of things during the rental term.

3. The Value Of The Home – The Value Going Up?

One of the big benefits of a Lino Lakes rent to own home is the ability to lock in a home at a set price well in advance of you having to purchase it.

With a rent to own house contract, you agree on a monthly rental rate… a term of that rental (usually 12-24 months)… and a purchase price at a future date.

Because of this the purchase price usually doesn’t come at a discount for you… but, if you buy in the right Lino Lakes MN neighborhood (one that is increasing in value)… you could be earning instant equity if you decide to purchase the home at the end of your rental term.

See Our Current Lino Lakes Rent
To Own Homes Below!

If you still have questions about the rent to own process just call us anytime at 612-840-6507.

And if you want to be put on our local Lino Lakes Rent To Own Home List click the link below to see what’s available.

See Local Lino Lakes Rent To Own Homes >>

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