RE/MAX has partnered with a group of investors who offer homes you choose for rent with a “rent to own” option to purchase. This is a great program for those with bruised credit. Bankruptcy (discharged) short sales and deed in lieu are OK.
The cost to apply for rent to own is only $75.00 per household.
This rent to own program has helped over 9,000 people get the homes they chose and the group has invested over $1 billion in homes. Here is an overview of this wonderful program.
You Choose The Home
Almost any home in the Northwest suburbs listed on the Multiple Listing Service and not a short sale or condo will qualify for the program. They only buy homes in great school districts. You pick out the home and the investor group buys it for you based on your agreement to lease it. They don’t do complete rehabs but if it needs paint and carpet, they can even work that out so you get a fresh new home.
Qualifications To Participate
You apply with them for approval in the rent to own program. Discharged bankruptcy, short sales and other credit challenges do not mean you will be rejected as long as you have been credit worthy since your credit problem. Here are some of the qualifications for the rent to own program:
- enough cash in bank for 2 months rent as deposit and first month’s rent
- credit score of 525 or higher
- total household income of $50,000 or higher
Rent From 1 Year To 5 Years – Purchase Anytime
Once you are approved, you rent the home at the agreed upon price. Pets are OK (within limits). There are no closing costs or other fees. You only agree to lease to home for one year but you can renew the lease annually for uo to 5 years if you wish. You can buy the home any time for a set price as soon as you qualify for a mortgage with any lender.
Get more information:
Find out more about this flexible and affordable rent to own program and let’s get started finding the home you love in the area you want. Call or text Tony Delisi “The Results Guy” today at RE/MAX Unlimited Northwest 847-471-7177.