Rent It Today, Own It Tomorrow.
You may not be ready to buy a house today, but you CAN still live in the home and community you really want. Wemert Group Realty and Home Partners of America can show you how!
About the Program
This program allows you to find a home in a community you want to live in and lease the property for up to 5 years. You have the option of purchasing the home at any time during your residency with a guaranteed sales price. If you decide the home is not for you, you have the option of walking away without penalty at the end of your lease. This program gives you the opportunity to realize the dream of owning your own home!
The process is simple:
Step 1: Apply for Approval
The first recommended step is to review the pre-qualifications for the program. Fill out and submit a pre-qualification application to check whether you are eligible. If the pre-qualification application is approved, you will be required to send a full application for a full credit and background check. If that is approved as well, Home Partners will notify you with the maximum monthly rent of the home for which you qualify.
Step 2: Find a Home
Once approved, we will help you find your dream home! After the perfect home is picked out, it will be submitted to Home partners for approval who will then purchase the home. The final purchase will be dependent on a satisfactory inspection, review of the purchase contract, and other closing conditions being satisfied.
Step 3: Home Partners buys the qualified home, household leases the home
After the home has been purchased by Home Partners, you will be able to lease the home from them until you are ready to buy. The home will have a one year lease minimum agreement and a right to purchase agreement.
Step 4: Own your Home!
Home Partners buys the home. You lease it and have the right to buy it whenever you wish to!
Home Partners will evaluate household rent-to-income and debt-to-income ratios, rental and housing history, employment history, criminal history, FICO scores, and other elements of an application:
- Annual household income of $45,000+
- Stable employment
- No pending chapter 7 bankruptcy
- No disqualifying criminal history.
- A minimum of 45 days from date of application to move-in.
Homes must meet the following requirements:
- Single family home or fee-simple townhome
- Located in an approved community
- Home price between $100,000 and $400,000
- No short sales, REO, or auctions
- No material deficiencies (major structural issues, solid aluminum wiring, etc.)
- The home must also meet additional eligibility criteria which you can see here.
This program is intended to provide qualified individuals who are not ready to buy today with a clear path to homeownership in the near future.
Call or text us at 321-567-1202 to find out more information.
Are you looking for a new way to make extra money? Ever think about becoming a landlord and renting your property to families with kids? In today’s world, family is important and many people still want to live in a home with their loved ones. This blog post will provide you with information on a rent-to-own program in Orlando, Florida. It will also give you tips on how to be a successful landlord.
The Rise In Demand For Family Homes
According to recent studies, there has been a rise in the number of people interested in renting a home to families with children. This is particularly beneficial for people looking to downsize after achieving financial freedom through a successful retirement. The demand for family homes has also risen due to the lack of availability of good-quality, affordable apartments in old age homes. As a result of this, families are often forced to move into smaller homes shared with other tenants or rent a mansion with a lot of rooms to accommodate their growing family. This can be extremely expensive.
If you’re looking for an easy way to make extra money, you don’t have to look further. Instead of renting out a room in your home or selling your cars for cash, why not take the opportunity to become a landlord and make money off the rental of a residential property? It might not seem as easy as getting a good annual return on investment, but being a landlord is a great way to make extra cash without any risks. Your tenants will be grateful for the accommodation and you’ll be able to enjoy the extra cash that you’ve made.
Rent to Own Homes in Orlando, FL Basics
One of the primary reasons why people choose to rent a home instead of buying one is the flexibility that comes with the option. If you’ve ever rented an apartment before, you’ll know that there are various reasons why your rent may have increased even though the market value of your home has gone down. This can make you money, but also make you nervous about the stability of your income. You never know how much your tenant will decide to charge you each month.
In some instances, you’ll be able to negotiate a reduction in rent with the owner of the property. However, in most cases, there is little to no flexibility when it comes to the rent. This is where the idea of a rent-to-own program comes in. With this arrangement, you’ll be able to set a price for rent, which will be paid in advance. In return, you’ll be given the keys to the property and be allowed to enter at any time. Your tenant will make the primary payment each month, with the exception of a processing fee that varies between 10% and 20% of the rent agreed. This will help remove some of the uncertainties that come with residential rental ownership. You’ll know exactly how much you’ll get every month and there won’t be any surprises when the time comes to pay the rent.
Rental Property Investing
Since a rent-to-own program is essentially investing in real estate, you’ll want to make sure that you do your research before putting in any money. As a general rule of thumb, it’s a good idea to avoid buying a property that’s not in your budget. This can be difficult, especially if you’re looking to invest in a larger unit or a more luxurious property. Buying a rental property is both risky and expensive, so you should only do so if you’re confident that you can make the required improvements and generate an appreciable return on your investment. Otherwise, it’s better to stick to the tried and tested method of buying a home that you can actually afford. This will help ensure that you don’t end up in financial difficulties later on.
The demand for family homes will only continue to rise as more and more people realize the benefits that they can gain from living in a shared living space. If you’re looking for a way to make some extra cash, why not consider investing in a rental property? The demand for family homes makes this a viable option for those who want to be financially independent in later life. Why rent when you can own? It’s a common question and many people are looking for the answer. Instead of renting, why not try out a rent-to-own program and see how easy and lucrative this can be?
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