There are times in life that you find the most beautiful home that has everything you want and it turns out that you cannot afford it, you cannot be financed at the moment, you don’t want a long term commitment, you are waiting for the perfect time, not ready to pay a large down payment and so many other scenarios. Then, you lost out on your dream home and are not sure when or IF you’ll get into that dream homes.
It seems like all hope is lost until you come across the idea of rent-to-own.
What in the world IS that?!
The process of rent to own seems a bit confusing and non traditional which can at first make people skeptical. Unfortunately rent- to-own has developed a negative stigma: it’s not “real homeownership” or “it doesn’t make any sense.” That is not the case at all! There’s so much more to the Kalidy rent-to-own than people realize. It’s simple and a great option to stop renting and start OWNING.
Below are some of the biggest questions:
1. What exactly is rent to own?
To make it simple, rent to own is the middle ground between renting and buying a home – it could be described as a mix of renting and mortgaging.
2. What is the difference between rent to own and a traditional mortgage?
In a traditional home purchase, an offer is accepted, the buyer and seller meet to exchange funds and settle final costs and the property and title is exchanged. Buyers normally use a mortgage to finance the bulk of this purchase. Traditional mortgages rely on credit – providing little tolerance for life events that are often outside of your control.
The Kalidy Way:
Kalidy changes the game. We understand the uncontrollable events can alter financial situations and we strive to help you turn things around while owning a home. In an economy where many people are self-employed, occupational conditions can create challenges when it comes to loan approvals.
At Kalidy we focus on your ability to pay and we have an approval ratio of 95%. We work with great credit, bad credit and all sorts of situations that banks can often turn away. You are able to move into the home of your dream with a down payment starting at $2,000 and in as little time as two weeks after securing an available home of your liking.
3. How does rent-to-own work?
Under a rent-to-own agreement, potential buyers get to move into a house right away. While many states have their own regulations regarding rent-to-own agreements, the agreement typically rents the property for a certain amount of time. The buyer and seller agree to the possibility of a sale at some point in the future. The renter/buyer does ultimately make that big decision and in the meantime, the buyer makes payments to the seller. A portion of those payments (usually) reduce the money needed to buy the house at a later date.
The Kalidy Way:
Kalidy evaluates your application based on our own underwriting guidelines. We tend to put more emphasis on your current ability to pay instead of what your credit history indicates. We carry the papers for your home for as long as you’re in our rent-to-own program. Every month, you will have a payment with which you will pay down the principle, just like a traditional mortgage. The monthly payment also includes the interest, insurance, and taxes (Home Owner’s Association fee if applicable).Your timely payment will not go unnoticed, and will be reported to credit agencies to help boost your credit score. Through our rent-to-own program you can pay off the home or refinance through the bank at any time.
4. What is included in a Kalidy rent-to-own contract?
- Principle (the payment of the home debt)
- Home warranty
5. Where can I find rent-to-own properties? KALIDY!
6. What benefits come from renting to own a home The Kalidy Way ?
One of the big reasons why a rent-to-own agreement appeals to buyers is the financial one: there’s no need to come up with a substantial amount of money to use as a down payment or qualify for a mortgage. You don’t need to worry about immediately coming up with the money for property taxes, private mortgage insurance or homeowner’s insurance. By signing a contract now, you can lock in a purchase price of a modern completely remodeled home with gorgeous Kalidy touches. The biggest benefit of all, instead of renting you are making an investment in OWNING.
Our rent-to-own program has many benefits that could allow you to save money while improving your credit and financial situation. Our company is dedicated to helping you find the best situation for your family to live in your dream home while staying afloat financially:
- Make the switch from renting to buying sooner than you thought possible
- Earn better credit with timely payments
- Pay more towards principle compared to other rent-to-own programs
- Write off your interest at the end of the year on your taxes
Renting to own can be a great way to arrive at the same destination as you would with a mortgage – owning a home! You can reside in your dream home now.
What are some of the things that YOU like about rent-to-own? Let us know what you think in the comments below!
For more information about renting to own with Kalidy Homes, click here!
Below is a sneak peak at one of our gorgeous available homes! Visit our website for more! www.kalidy.com
Ready to make it official and apply? Click HERE!
Last modified: November 3, 2017