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| Rent To Own Homes in Colorado Springs |
Rent To Own Homes in
Colorado Springs
If you dream of owning a home in
Colorado Springs, but find you’re not eligible for a mortgage because of credit
issues, there is a good way for you to realize your dream. Whether your credit issue is self-employment,
a short time on your job, or a credit score that is too low, if you really want
to be a home owner ‘RENT TO OWN’ may be a great program for you. ‘Rent to Own,’ also called ‘Lease
Option,’ helps you to live in a wonderful home of your choice before you qualify
for a bank loan while you work on improving your credit.
How do you Rent To Own
Homes in Colorado Springs?
You choose a company in
the area where you want to live that specializes in this program. You can search the internet for, rent to
own homes in Colorado Springs.
Because real estate is like other businesses with some great, some bad
and some ugly, make sure the company you choose has a good track record. The
Better Business Bureau in the area can be helpful in determining if a company
is a reliable choice. You can visit the companies’ web site to see their available properties.
When you have found the home that
you love and can see yourself owning, you
agree to a monthly rental amount and an ‘up-front option payment’ to secure the
house for you. With a month’s rent and the option payment you can move right in
and begin enjoying your new home.
Why do you need an
‘OPTION PAYMENT’?
Good companies offer rent-to-own
homes that are quality homes in excellent condition showing pride of ownership,
unlike rentals that have been repeatedly repainted and rehashed. The rent-to-own company wants you to buy the
home and will even help you with your credit issues. An option payment insures the landlord that you are not just a
renter; that you want to buy the home as
soon as you can. And because the full option amount will be applied to your
mortgage, it helps you with the down payment when the time comes to get your
loan.
How does an ‘Option
to Buy’ contract PROTECT YOU?
Never agree to ‘rent to own’ a home
on just a handshake. The house can be
sold right out from under you or the purchase price can be raised while you are
renting it! An ‘Option to Buy’ contract will have all of the following protections
for you clearly stated:
a.
The price of the house which CANNOT CHANGE during
your lease.
b.
The house CANNOT BE SOLD to anyone else while
you are leasing it.
c.
You have an OPTION to buy the house at any time
during your rental period, but not an obligation to do so.
d.
You secure this ‘option to buy’ with an
up-front, reasonable, non-refundable
option payment which is subtracted in full from the sale price of the home or
used for the down payment at the time of your purchase. It guarantees the home is held for you; and you
have a part of your mortgage down payment already put aside.
e.
Some companies will allow part of your option
payment to be included with your monthly rent.
f.
Some companies also offer rent credits each
month your rent is paid in a timely manner. With rent credits you will receive
credit of a pre-determined specific amount which will be subtracted from the
price of the home at your time of purchase.
Western Home Buyers, LLC
offers quality homes in nice neighborhoods in Colorado Springs with
flexible rent to own programs.
Western Home Buyers, LLC is a member and
has an A+ rating with the Southern Colorado Better business Bureau.
You can see Rent to Own homes in Colorado Springs online at BuyOrRentToOwnColorado.com
