For buyers who do not qualify for a mortgage, many may not have the money for a large down payment on a mortgage or their credit is too low to qualify for a financed loan then Rent to Own or what we call “R2O” is the best option to consider. The other good thing is that it does not incur any debt or long term obligation which means there is no financial statement required. All that is required for is a residence and source of income. Using R2O is also known to have helped families to get into the world of home ownership a lot easier than trying to acquire it through banks and other conventional ways of buying properties.
The R2O strategy allows the user to enjoy certain benefits such as buying a home with a lower down payment not forfeiting the money that will be collected for rent will be of immense benefit. The money acquired will be implemented towards the buying price. It’s a good deal since it makes it easier for one to qualify than the conventional methods that have been used in the past. The R2O also helps even if your credit has been hit with the difficulty of recession or any other financial distress you may face.
Some of the benefits of using R2O include the fact that the money will become an investment. With R2O, part of the money will be used in the buying of the home, making it easier for more renters to invest in homes. Another advantage with R2O is that the home owner will move in quicker unlike other typical mortgage methods where moving in will take place after months and months of waiting. With R2O sometimes the move can take place well under a week making it fast and reliable. Other advantages also include equity growing much faster, you get full control of the home and there are no added taxes and unwarranted fees.
Doesn’t it sounds like it’s time to purchase on R2O?