Rent To Own Houses MN

Looking for a house to rent? It can be very frustrating, to say the least. One of the biggest problems is having a large enough selection of houses to rent available to look at. Another problem can be finding the perfect house in the right area. You might want to consider a rent-to-own program.

Just because you sign a rent to own contract to rent a hose on a program like this, does not mean you must buy the house. It simply means that if you want to buy the house at a later date, you have that option.

The nice thing about rent to own houses is that you typically get a rent credit which can be applied to the purchase price. Often, as much as 20% per month for all on-time payments!

Let's look at the following example: You find a house to rent with an option to buy. The option price is 200,000. After 12 months this rent to own house appreciates in value by the industry average of 4%, making it worth 208,000. Now, let's say your rent payment is $1,500 per month. At the end of the year you will have paid $$18,000 in rent. But wait! You have a 20% rent credit of $3,600!

IF you choose, you can buy this $208,000 house for $196,400! And the best part is, there will be NO REALTOR FEES!

But what if you have bad credit, or no credit? For most investors this is not a problem. They typically work with a mortgage lender that will help you repair your credit, often in 6 months or less.

So if you are trying to find a house to rent, you just might want to consider rent to own houses too.