Rent to Own Assistance MO | USA
Our Rent to Own Assistance MO | USA Mission: Assisting Renters to become homeowners via the Home Ownership Program. Helping Resolve Bad Credit or No Credit Issues; Rent to Own Down Payment Assistance; and MORE.
Available in Missouri and USA - Nationally
Rent to Own Assistance MO | USA Program Information: How We Help Renters Rent and Rent to Own
Home Sweet Home offers a Rent to Own Assistance MO | USA Program which focuses on helping renters become first time home buyers. The program is available throughout the USA. Additionally, this rent to own assistance program is tailored to address common problems facing renters. In the vast number of cases, credit, down payment, and income qualification and more. See the Home Ownership Program for details.
Rent to Own Assistance MO | USA: We Help Renters Meet Rent to Own Qualifications
Rent to Own Assistance MO via the Home Ownership Program ("HOP") is designed to make meeting rent to own qualifications easier. On the whole, much of what we help renters resolve bad credit or no credit issues; get rent to own down payment assistance as well as general financial, real estate and credit advice. Additionally, we offer limited income advice and some assistance as well.
Rent to Own Assistance MO | USA: We Assist Renters with Bad Credit or No Credit
When it comes to credit and rent to own assistance MO | USA, credit matters.
Landlords are terribly skittish on working with renters who have bad credit. Normally, in such cases, rental applications can be declined. If approved, a renter may need to put more money (possibly thousands) up front. In addition to this, renters may be required to pay larger rent payments to "offset" the bad credit or no credit issue.
However, there is hope. As part of our Rent to Own Assistance MO | USA program, we help renters move from bad credit or no credit. Once you have good, established credit you can rent, rent to own or purchase a home for sale.
When it comes down to it, why pay more move-in costs upfront? Why pay higher rent payments if you can avoid it. Obviously, it pays to have better credit upfront. In the end, it means less move-in costs and less in rent payments. Not to mention, less money is wasted paying for application fees and background checks.
Rent to Own Assistance MO | USA: We Help Renters Understand Rent to Own and Availability
Today, we live in a world of instant gratification. We want - what we want - when we want it. And, that means RIGHT NOW.
Well, housing is a different kind of animal. It's not like going to the store picking up a piece of candy paying for it and walking out. For the most part, it takes TIME.
Rent to Own Assistance MO | USA: Understanding Statistics and Availability
But, what does that mean, "it takes time"? For the most part, real estate research and statistics show rent houses are a much smaller part of the housing market as a whole. And, "rent to own homes" is an even smaller slice of the housing pie - as these homes are considered, "for sale" and "for rent" at the same time. Therefore, it may take time to locate properties which are rent to own.
Rent to Own Assistance MO | USA: We Will Help You Get A Real Estate Agent
For certain, having a real estate agent helping to locate properties is definitely helpful. Undoubtedly, most real estate agents will work with renters who have 600+ credit scores.
Why won't most real estate agents work with people who have LESS than a 600 FICO credit score? When considering scores, agents know that higher scores get deals and lower scores spin wheels. In other words, renters who have lower scores cannot qualify for rent or rent to own housing. In fact, many agents who work on commission, find it's too much of a time investment to work with renters with lower credit scores.
Not to worry, our program is designed to help renters score higher on their credit in order to meet rent or rent to own qualifications. Even though a waiting time may be involved, having the help of a professional agent is well worth the wait.
Rent to Own Assistance MO | USA: Rent and Rent to Own Affordability
Also, another important point to consider is how much housing costs are in various housing markets. As a part of normal practice, landlords use the 1/3 housing ratio to qualify renters on rental and rent to own affordability. Translated plainly, landlords budget only 1/3 of gross monthly income (at a maximum level) for housing.
For example, If you make $6,000 gross per month, 1/3 of this can be budgeted toward housing costs or, $2,000. Sometimes, depending on the calculation, the landlord may or may not adjust the amount to compensate for taxes and insurance. In most cases, however, landlords will try to remain competitive on market rent in order to capture the best credit renters.
Rent to Own Assistance MO | USA Renter Competition:Credit, Income & Ability-to-Pay
For sure, the American housing market is based on competition. Not only do landlords compete with each other on property merits but market rent as well. Absolutely, the same is true for renters seeking a rental or rent to own house. On balance, landlords evaluate renters compared to other renters in the market to seeking to rent or rent to own. Technically, all renters are in competition in a single housing market.
When it comes to rent to own MO | USA, it's important to remember that there are more renters in the market than at any time in the last 50 years. And, since there is a glut, landlords can easily pick-and-choose from the best renters in the market.
Rent to Own Assistance MO | USA: We Help Renters Get Down Payment Assistance Using Rent Credits and Move-In Costs to Save Thousands of Dollars
Rent Credits are the best kind of rent to own down payment assistance as part of a lease-purchase agreement. Each time a renter pays rent on time, a portion of the rent can be credited toward financing the down payment. Normally, rent credits can range from just $100 per month to 100% of the rental payment (although it's infrequent).
Additionally, using our "move-in cost conversion feature" we can show renters how to save hundreds if not thousands of dollars MORE.
Funds can be applied fully towards down payment and or rent to own MO | USA closing costs.
Rent to Own Assistance MO | USA: A Word About Low Credit Scores
Sometimes, when renters have low credit scores, it's better to wait. Why? Saving money on the right rent to own is the main reason. Much of the time landlords will charge for a credit check and background check as well. Even while a background check can come back positive, a lease denial can cost up to $100 per check. In one instance alone, a renter paid nearly $700 in credit and background checks only to be turned down in every single instance.
Waiting and bringing up credit scores may make more sense and Home Sweet Home can help.
First, it saves time and frustration trying to find a landlord who will approve a renter with bad credit.
Second, it saves money in credit and background checks. Again, making big savings is possible.
Third, burning good money on credit and background checks just to be turned down digs into move-in costs. The more the dig, the less move-in funds a renter has. And, in a renter's world of stiff competition, a renter with more funds is much more likely to approved by a landlord than one with less move-in funds.
Fourth, and in a big way, waiting and bringing up credit scores can save a renter several hundred (if not thousands) of dollars in upfront move-in costs.
Rent to Own Assistance MO | USA: More Reasons to Wait and Raise Credit Scores
Fifth, having low credit scores and bad credit will require even more "upfront" move-in costs. Waiting to raise your credit scores can save you hundreds of dollars, if not thousands.
Sixth, low credit scores and bad credit will also allow a landlord to charge more than market rent. This extra premium will go to "buy down" the risk of bad credit. Not having to pay such a premium can save a renter as much as $100 - $300 extra per month on average.
Seventh, bad credit and low credit scores discourage real estate agents working with renters to find housing. As noted, the chances of denial are too great and agent time is too valuable to be spent "spinning their wheels" to get a leasing commission. Most agents like to work with renters who will eventually complete their rent to own with a purchase as the commission is greater.
Eighth, when a renter has bad credit, the already slim number of houses available on a rent to own basis becomes much, much smaller.
In the final analysis, Home Sweet Home can help guide you in fixing your credit. Renters can save hundreds, even thousands of dollars. In this way, renters can qualify for the rent to own home they really want. Furthermore, renters with formally bad credit can successfully compete with other renters who have better credit.
In Conclusion: We Help You Get the Best Help with Rent to Own Assistance MO | USA
Finally, we can help you qualify and give you the advice you need to find a house for rent or a rent to own. Either way, you can end up owning your very own home. Home Sweet Home is dedicated to helping renters become homeowners. We can help you fix your credit, get down payment assistance or even finance a down payment plan and address other problem issues as well.