|
WELCOME TO THE "OWN THAT HOME" LEASE PURCHASE PROGRAM!
www.ownthathome.net 513.258.2520
The “Own that Home” Lease Purchase Program is ONLY for Tenant / Buyers who are SERIOUS about home ownership and are dedicated to doing what it takes to “Own that Home.”
BENEFITS TO TENANT / BUYERS
- Start looking for your new home immediately after enrollment into the program
- Opportunity to experience the pride of home ownership from day one of the lease
- Lease payment will be tailored to reflect future mortgage payment preparing Buyer for long term success through a stable payment they can afford
- Credit restoration and mentoring program continues until option is exercised and will help Buyer build a strong financial foundation
- Ability to choose from larger inventory of homes
- Option timelines tailored to Buyers situation
- Affordable Option Fee (close to security deposit and first months rent)
- Full amount of Option Fee will go toward purchase
- Rent credits will apply towards purchase down payment
- Property Manager is intermediary between Buyer and Seller
TENANT / BUYER PROCESS
1. Fill out Enrollment Forms. GET THE ENROLLMENT FORMS HERE
2. Send forms to Sam via fax at 859-442-9601 or email them to: sam@rpmcincinnati.com. You can pay the enrollment fee via credit card or check, just call 859-442-9600 to make arrangements.
3. Pre Qualification - Mortgage experts will review your credit, debt to income ratio, and other factors in order to gauge HOW MUCH house you can afford and WHEN you'll be able to purchase the property and execute the "option"
4. House Hunting - We will find houses that meet the criteria you gave us and arrange for you to tour these properties
5. Lease Signing - Once a house is found and terms are finalized, we will close on the Lease Purchase.
6. Move In!
7. Improve Credit - Our network of credit repair companies will clean up your credit and improve your scores; safely and legally.
8. Credit Mentoring - Additional support is provided over the term of your lease to help you stay focused on financial responsibility and home ownership.
9. Purchase Property
FAQ's
Q: How much do I need to put down?
A: Between 2-4% of the sales price. This is close to the equivilant of a security deposit and first months rent.
Q: How long of a Lease will I have?
A: This will be determined during the prequalification process. We want your lease to be as short as your credit will allow.
Q: Is there anyone you WON'T work with?
A: YES. We like to focus our program on tenants / buyers who are looking for payments between $800 and $3000 per month. This will equate to a property value of around $100,000 to $350,000 approximately. If you are not looking to spend at lease $800 p/m on your total housing payment (principal, interest, taxes, and insurance), please do not apply for enrollment.
Q: Will my monthly payments to toward principal and reduce my sales price?
A: Yes, that can be worked into the lease
Q: Do I get my money back if I don't qualify for the program?
A: Yes, if we process your paperwork and prequalify you and determine the program isn't a good fit for your situation, we'll refund your enrollment fee.
|
