Have you been turned down by the banks for a conventional mortgage?
If so, you are not alone. Many people are unable to qualify for financing. (people who are self employed, those without much credit history, people recovered from earlier financial difficulties. We can Help!
Think outside the box Think Rent-to-Own
A little about Think Outside the Box
Think Outside the Box is our Real Estate Investment Partner: They are real estate investors, who partner with real estate and mortgage professionals, to help people realize the dream of home ownership.
They are different, using a tenant first approach:. Tenant buyers find the house they want, and are then paired with an investor who buys that house! The tenant buyers rent the house for the length of the program, then buy it from the investor prior to the end of their term. The rent is based on what it will cost to own that home at the end of the program: mortgage, taxes and insurance
How it works
It is a simple step-by-step process:
- The tenant buyers start by visiting our website, and completing the Tenant Buyer Application and Questionnaire
- We meet with the tenants buyers, to review the application and process
- The tenant buyers meet with our partner mortgage professionals, who will pre-qualify them, based on current information, for the size of mortgage they will be able to afford at the end of the program.
- Our partner real estate professionals find homes that meet the tenant buyers requirements, and that will fall into the price range that the tenant buyers have qualified for. They visit the properties with the tenant buyers.
- A partner investor purchases the property.
- The tenant buyers move in, and make their regular monthly rent payments.
- We split the rent into the rental cost and savings components, and put the tenant buyers’ savings into a separate account for later use towards the down payment and closing costs. We document the tenant buyers’ payment history for later use in qualifying them for their mortgage.
- At the end of the term, the tenant buyers purchase the property at the pre-agreed to price. Their savings are sufficient to cover their down payment and closing costs. And they are used to budgeting for the monthly costs of owning this home.