Rent To Own Homes In Phoenix & Surrounding Areas
Rent to Own Homes Phoenix, Gilbert, Ahwatukee, Chandler & Mesa Arizona
Have you heard about rent to own homes? There are many situations when this type of transaction can be beneficial to both a buyer and a seller. Rent to Own and Owner Financed opportunities to purchase a home can be very attractive when the tenant is given the option to buy a home. Typically the seller of the home will lease the home for a specific period of time. When the lease is has expired, the tenant has the option to purchase the home or move on to another location. In Phoenix, Gilbert, Ahwatukee, Chandler & Mesa Arizona, the money that was paid to the owner of the home during the duration of the rental agreement can in some situations be applied towards the purchase price of the home, closing costs or Down Payment. The advantages of rent to own is that the price is almost always agreed upon, and the when the sales contract is ratified, the purchaser and seller normally cannot change the terms of the contract including the price. This Usually allows the tenant purchaser to gain some equity while waiting to buy the home at a later pre determined date.
Why would someone want to Rent to Own?
That is a great question, normally because of the strict guidelines that lenders require, a buyer may have been denied a pre approval by a lender because of a low credit score, or not enough for a down payment. In these cases rent to own homes are a great choice along with owner financing. For Phoenix, Gilbert, Ahwatukee, Chandler & Mesa Arizona who may need to work on credit this could be a opportunity to take advantage of great prices of homes on the market in Arizona.
These are great opportunities, however they are not as plentiful as you might imagine. For a free list of these properties including owner financing please email us or call 480-239-5468. It's important to contact us because when we are made aware of rent to own options we can let you know and send you a list. These properties do not last long so be sure and contact us for a free list of rent to own or owner financing homes available in AZ.
Did you know FHA just rolled new guidelines for lending? - Click Here for Details
You may be surprised, but it's important to see if you qualify for a mortgage now that these new rules have recently gone into effect. If you have had a foreclosure or a short sale , the waiting period has changed from the 3-5 years to 12 months. The New Back to Work Program is allowing many Arizona home buyers the opportunity to purchase again much sooner and take advantage of the low interest rates. Give us a call today and we can provide you with lender contact information and see if this is an option for you. Also, new guidelines with credit scores of 580 is now allowing more buyers to take advantage of Arizona Homes Sales.
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Listing Information Current As Of Oct 21, 2018 5:39:pm
Today's Market Trends for Rent To Own Homes In Phoenix & Surrounding Areas *
* All data pertains to single-family homes