Rent to Own Homes in Fairborn
Fairborn is located in south central Ohio, approximately 15 miles northeast of Dayton. It also lies minutes away from the Wright-Patterson Air Force Base. According to the United States Census Bureau, the population of Fairborn is more than 33,700 residents.The below results are primarily rent to own homes in :
Fairborn is located in south central Ohio, approximately 15 miles northeast of Dayton. It also lies minutes away from the Wright-Patterson Air Force Base. According to the United States Census Bureau, the population of Fairborn is more than 33,700 residents.The below results are primarily rent to own homes in :
Interestingly, Fairborn is the only city of its name in the entire world. The word was derived from the names Fairfield" and "Osborn two villages that came together as one following the Great Dayton Flood in the early 1900's. The Fairborn area boasts a unique history in aviation. The Huffman Prairie Flying Field is a famed location where the Wright Brothers undertook the daunting task of constructing and learning to operate aircraft. The Huffman Prairie Flying Field now sits on the Wright-Patterson Air Force Base and has earned recognition on the National Register of Historic Places. Fairborn is home to Wright State University, a distinguished institution for higher education. Wright State University offers a full selection of undergraduate and graduate degrees, cultural events and athletic programs to nearly 20,000 students. Fairborn residents enjoy easy commutes to nearby Dayton and surrounding communities. Many people who are employed at the Wright-Patterson Air Force Base or at Wright State University choose Fairborn as their home base.
Buying vs. Rent to Own Homes
The difference between buying a home and signing up for a lease-option depends on your timeframe and how much money you spend on buying the house.
When you buy a house outright, you pay for the fair market value of the home plus interest and other fees charged by your financial lender, if you have one. You buy the property today and immediately start building equity in it.
However, when you rent to own, you won’t own the home until you close on the property, which could be as far as three years from today. You’ll also pay rent monthly, and you don’t get that money back.
There are some fees that you pay for rent to own that you’ll get back as a credit towards the price of your home, like option fees and rent credits. These count as equity on the home, but they’re not on the scale of equity you would build with a mortgage. Therefore, these don’t add anything on to the price you pay for the home the way that rent does.
Rent to Own Realtors
Using a realtor for your rent to own deal can offer great benefits. Agents are well versed in real estate so they can effectively communicate opportunities and discern which of those opportunities is a legitimately good deal.
Nonetheless, not a lot of realtors will want to help with your rent to own deal because upfront profit for a realtor is minimal and the big payout down the line is not a guarantee.
That means you’ll have to do a little research to ensure that you make the best decisions, but you will save money on commission.
About Our Listings
It’s in the bank’s best interest to avoid foreclosed homes because they end up having to sell them cheap to recoup lost money. So, they try to play it safe with mortgage approvals by steering clear of people with bad credit.
That doesn’t help someone who’s working on getting their credit together to buy a condo or a townhouse. Nonetheless, rent to buy programs can help people work toward purchasing houses and apartments with no credit check.
The free listings on our site are usually rent to own by owner, so deals are more reasonable and trustworthy than big company lease to purchase properties are. Whenever you’re ready just look for lease-option or lease-purchase homes near me on the Rent to Own Labs website.
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