Are you looking to rent a home in Defiance Ohio? If you are you are like many who call us each and every week. It appears that there is quite a bit of demand right now for home rentals in our area so I thought I'd try and give a little help if you're looking for a home.
As a company, Realty Five of Defiance doesn't manage or have any rentals. However, we often have clients of ours who have some and are available for rent. Currently, I know of two homes for rent in Defiance. One is a nice one level 3 bedroom home close to Bronson Park and the other one is a super cute 2 bedroom on Hopkins St. with a full basement that will be available soon.
I do know that other real estate agents in our area also know of different homes that are available or they may have some themselves so you can always call them too.
The real question I have though is why are you renting in the first place? I know that some people have had some financial difficulty in the past which has hurt their credit which definitely makes renting a good or possibly the only choice. But, I often find those who may have had some difficulties in the past and believe their credit is messed up but isn't. If you're one of those then I'd like to give an example of what you could possibly buy if you decided that you were tired of renting.
Example: There have been many lending institutions who are advertising that a 4.25% interest rate is possible for a 30 year mortgage. So, we'll use that in this example. Let's also say that your current rent payment is $550 a month.
Here's what we can do: If you were to buy a home for $85,000 with a 30 year USDA Mortgage (Which means NO DOWN PAYMENT!) at 4.25% interest, $800 a year for taxes and $800 a year for home owner's insurance plus what is called PMI included your payment would be approximately $551.48 a month!!! Now remember this isn't exact but it definitely gives you an idea of what is possible.
So, what exactly is a USDA Loan? It's a government backed home mortgage that allows a home buyer to purchase a home with NO MONEY DOWN! The costs of the loan are usually rolled into the loan. These loans are not available in all areas of the country as they are considered "Rural" loans but most of our area including downtown Defiance is included. There are some qualifications for the home and definitely some details being left out here but these loans are done all the time here in Defiance.
Now that we've determined that a house payment is possible what can you get for $85,000? Well, I just did a home search for all homes in Defiance priced from $65,000 to $85,000 and found 52 homes available. Not all of these home will qualify for the USDA program but many will.
As you can see, you can get some pretty nice homes for around $550 a month that you can call your own. So, if you've thought that it was time that you were to stop renting and time to buy a home of your own, give us a call and we'll show you how that can be possible.
Tomorrow I'll spend a few minutes describing some of the benefits for home ownership that you may not know.
~Scott
Scott Williams
Scott@realtyfive.com
888.766.8627
"We choose to give."
Comments(0)