We are now networking with a number of local agents to provide you with the widest selection of homes with a rent to won option.  This service is available to the serious home shopper, who wants to get out from under the rule of the land lord, and experience the responsibility of home ownership.

In the City of Milwaukee, homes are available for as little as $50,000.  Monthly payments as low as $300 per month plus taxes and insurance.  Following is a particle list of the minimum requirements.

 

• All credit scores must be in the mid 550's or close

• No bankruptcies within the last two years
  

• Call about a Chapter 13 bankruptcy
  

• 3 months of reserves after closing
  

• Plus 3.5% of the purchase price down payment/option fee
  

NEW Homes are available in Hartford for as little as $219,900.  Monthly payments as low as $1200 per month plus taxes and insurance.

• Credit scores as low as 620.
  
• No bankruptcies within the last two years
  
• Down payments as low as 2 months rent

COMING SOON:

New homes in the Greenfield and Oak Creek areas.  Expected to be available in mid to late June.

A Rent to Own Option may be perfect for Buyers who find themselves just one step away from realizing their dream of owning a home.  With today's prices you may never get another chance to own for the same cost as renting.  A Rent to Own Option may be the bridge you have been waiting for.  

Applying for a rent to own option is much like applying for a home loan.  The main difference is, the lender uses cash funding from a private investor to purchase the home.  Because the stock market is doing so poorly, there may be additional funds available at this time.   Because they use private investors, credit scores may be much lower than required for other types of loans.

Private investors look at this as a short term investment, usually 3-6 months.  During that time, you agree to fulfill a credit repair program.  This will guide you through a number of steps to raise your credit score and allow you to qualify for a conventional or FHA loan.  When you are able to, you will apply for a loan through a lender, buy the home from the private investor and afterwards, take advantage of the tax deductions allowed home owners.  Also any increases in equity when prices do rebound are yours, you need not share the increase with anyone.  This will allow you to take advantage of the low housing prices we are seeing today.

With all investments there is a risk which must be shared by all parties involved. All investors will ask the Buyer to make a cash commitment.  This is usually 3 to 5% of the initial purchase price of the home.  Your cash commitment will generally be applied to the down payment on your loan, used to purchase the home from the private investor.  If you fail to complete a credit repair program, miss payments, or the contract is nullified for any reason, your investment is non refundable. 

Other expenses to consider when dealing with a rent to own option are closing costs, rent payments and credit repair fees.  Because this is a service provided by a lending Broker, these fees vary based on a number of circumstances.  Make certain you understand each of these expenses and how each is applied.  This will provide you with information you will need to make a wise financial decision.

Contact me for more information or to schedule a showing.  414-426-1784

Do you need professional real estate help in order to find a home in Menomonee Falls, Milwaukee, Brookfield, Wauwatosa, Germantown, Brown Deer or in another location in the Greater Milwaukee area?  Please fill out the following brief real estate quick request form describing how I can be of service. This form will help me provide you with outstanding real estate service. Or feel free to contact me by phone at 414-426-1784.  Thank you for your interest.