Rent to Own Homes in Early
Early lies in central Texas, approximately 80 miles southeast of Abilene. This Brown County city is only five miles away from the county seat of Brownwood. According to the United States Census Bureau, the population of Early is nearly 3,000 residents.The below results are primarily rent to own homes in :
Early lies in central Texas, approximately 80 miles southeast of Abilene. This Brown County city is only five miles away from the county seat of Brownwood. According to the United States Census Bureau, the population of Early is nearly 3,000 residents.The below results are primarily rent to own homes in :
Early was named in honor of Walter U. Early, a local resident who donated land for a new school district in the 1920's. The city was incorporated in 1951 with a proud population of 600. Today, Early is home to the Early Independent School District, four churches and the busy Heartland Mall. Early is a family-oriented community with the United States Census Bureau reporting that 39 percent of households include children under age 18. Sixty-two percent of households include married couples and almost 12 percent of households consist of a female householder without a husband. The median income of households in Early is just over $46,000 per year. The Pecan Bayou, a branch of the Colorado River, travels through the western end of the city and the center of Brown County, providing residents with scenic views and outdoor recreation opportunities. The Pecan Bayou Paddling Trail offers a leisurely way to engage in light exercise while observing native wildlife.
Buying vs. Rent to Own Homes
To buy a house, you (1) look at the homes available for purchase, (2) pick the house you want, (3) pay the seller the cost of the home and (4) you get the house. That’s the basic gist of the traditional home buying process.
All the steps of the traditional home buying process are present in the rent to own process. The difference is that renting to own has an additional step between Step 2 and Step 3. Step 2.5 is to rent the home for a maximum of three years until you are ready to continue to Step 3.
During Step 2.5, you’re working on improving your credit score, building a steady job history and saving up a down payment so that you can qualify for financing. Once you have financing, you can move on to Step 3.
Rent to own is a good way to prepare for buying a property. Once you do buy, you won’t have to spend money on rent any longer. So, the sooner you can buy, the better.
Rent to Own Realtors
Realtors can qualify buyers to get an idea of when they will be ready to purchase a rent to buy home and inform them on how long to set the lease term, but mortgage officers can do that too.
Banks can make a lot of profit off of a successful mortgage. That’s why mortgage officers will be willing to help you figure out the details of your rent to own deal. However, real estate agents don’t make enough profit off of rent to own deals to justify waiting a few years for the commission.
While real estate agents might be a logical partner in rent to own deals, you’ll have a lot of difficulties finding one to help you. For everything you think you need a realtor for, consider what other types of professionals might be able to help you, like title companies or lawyers.
About Our Listings
Financially, buying apartments, houses or any other types of properties makes sense when compared to renting. You're paying roughly the same amount per month for your mortgage that you would to rent the same type of home. However, there are obstacles that make that process difficult to attain, like minimum down payments and bad credit. Those barriers prevent banks from ending up having to sell foreclosed homes.
Nonetheless, those barriers shouldn’t stop you from owning your own condo or townhouse. Through rent to buy and lease to purchase programs with no credit check, you could start working toward owning a house.
A lot of people who rent to own by owner take advantage of Rent to Own Lab’s free listings. Search our website for cheap lease-purchase or lease-option properties near me and see if rent to own could be the right option.
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