My suggestion is to take a look in critical forms sections under downloads of myreinspace.com. All of the preliminary information required is available there. Below I have posted our companies FAQ`s for Rent-to-Own. It may be of some help. Buyer Inquiry “Rent-to-Own” Program
& Frequently Asked Questions (FAQ)
Do you require flexible buying options without banks? If you are like most people, you dream about owning a nice home in a good neighborhood. Here is your chance to make those dreams come true.
If you can afford a reasonable down payment, and monthly payments, you could easily qualify for our exciting “Rent-to-Own” program.
We will rent you a home with the exclusive right to purchase, at a later date. Our buyers love this because it has given them:
- Time to save up for a larger down payment.
- Time for self employed individual’s to verify income.
- Time to clean up past credit rating problems.
- Time to sell another home.
- Time to try out the neighbourhood before buying.
We are obligated to sell to you; however you are not obligated to buy. 100% of your option fee / down payment are credited towards the purchase price of the home. A portion of your monthly payment is for rent the rest goes towards the down payment of the property.
FAQ
Q: How much Down Payment do I need?
A: This varies depending on the house and your abilities; we are flexible with down payment. We can offer you many options and we do our best to work with whatever funds you have available.
Q: What other methods of Down Payment are accepted?
-fonto:Times New Roman-->A: Unlike most lending institutions, we accept borrowed funds for closing. If you have a close friend or relative willing to lend you money for your down payment you can use that in our program.
Q: What happens if I do not want to buy the house at the end of the lease?
A: We have many different options; if you need more time we can extend the lease one more year. We can help you to secure financing, perhaps even be the bank for you.
A final option is, you can choose to walk away and owe us no more money, and however, the money set aside for the down payment is non- refundable.
We want to deal with committed people, and we will work alongside you to help you purchase the house!
Q: What is the next step?
A: All we require to get started is your application. Each person must complete a separate application form. You can fax it in for faster processing. We contact you within 72 hours from the time we have verified income and employment. Your home search can then start!
