Rent to Own Home in Idabel OK?
Rent to own home in Idabel OK? Do you have any listings that are rent-to-own? Do you have any sellers that are willing to rent to own?
This is one of the most common questions that we get asked at Integrity Real Estate Services in Idabel, OK.
AND every time, the answer has been no, I sure don't. Sorry.
BUT after directly answering the question, I have questions of my own for the caller such as:
- Why do you want to do a rent-to-own instead of a straight forward purchase?
The answer is usually one of the following:
*1. I don't have a down payment.
*2. My credit is bad.
* 3.I've never done a straight forward purchase but have been involved in a rent to own.
*4. My mom (dad, brother, boyfriend, girlfriend, best friend, etc) told me it's the best way to buy a home.
If *1... My response is.. there are some possibilities for 100% financing. Are you a veteran? What is your annual income (Rural Development Mortgage). Are you a Native American? Are you interested in a HUD HOMESTORE home for sale AND are you a police officer, teacher, firefighter, or EMT? There are possibilities with all of these classifications for getting into a home with basically no money down.
If *2... What is your credit score? Why is it that score? Are you planning to reside in the home with someone else? If your credit is not 620 (or one lender will do a USDA Rural Guaranteed loan at 580) what is the income and credit score of the other person(s) that is (are) going to live in the home with you? Maybe it's enough that they can purchase.
If *3... We specialize in walking first time home purcahsers through the process. Not having done it before is not a legitimate reason..that's why we are here.. .at Integrity Real Estate Services.
If*4... That may be true in some cases but usually a home costs you more if doing a rent-to-own and without legal advice, you might get into a situation that you do not want to be in.
So...you're looking for a rent-to-own... sorry, I do not have any BUT if you want to be a home owner, call me, Judi Barrett, at Integrity Real Estate Services and let's talk about the real goal. 580-212-5946.