What are the advantages of Rent-to Own
As an alternative to the Home Ownership Program, the Rent-to-Own Program may be a better fit for you. Upon qualification, you will be paired with a real estate agent to find a house that is within your budget. REAP will then analyze the property and evaluate comparisons to determine the house’s average appreciation determining the future purchase price that you will eventually buy the house for. An offer will be made on the property and upon acceptance, a team of investors will purchase the home until you can purchase at the end of the lease term.
Our clients enjoy being able to accelerate their journey to home ownership because of these reasons:
- Little out of pocket to get started
- Option to earn towards your down payment. Each and every month that you pay on time, we contribute to your down payment! These additional monies help reduce the price of the house which lets you build equity in your home faster than with a traditional mortgage – no more wasting all your money on rent!
- Home Appreciation: Any improvements that you make on your home will increase the value above and beyond your final price. This increase in the home’s value is yours to keep because your price is locked in.
- Move Into Your Home Now: Instead of waiting until you can qualify for a mortgage, you get to move into your home now and qualify with the bank later.
- Improve Your Credit Score: We consult with you to help you improve your credit score so that you can obtain financing when you exercise your purchase option