Rent to Own Homes in Hernando
The city of Hernando is located in Northern Mississippi, approximately 25 miles south of Memphis, Tennessee. This growing city serves as the county seat of DeSoto County. According to recent data from the United States Census Bureau, the population of Hernando is over 15,000 residents and the land area is roughly 26 square miles.The below results are primarily rent to own homes in :
The city of Hernando is located in Northern Mississippi, approximately 25 miles south of Memphis, Tennessee. This growing city serves as the county seat of DeSoto County. According to recent data from the United States Census Bureau, the population of Hernando is over 15,000 residents and the land area is roughly 26 square miles.The below results are primarily rent to own homes in :
The city was named after Spanish explorer Hernando de Soto in the mid 1800's. Hernando de Soto was credited with being the first European explorer to come upon the Mississippi River. The United States Census Bureau reports the median income of households in Hernando as nearly $66,500 per year. Most residents of Hernando are employed in health care, education, logistics, manufacturing and retail industries. Families living in Hernando may send their children to DeSoto County School District as a public school option. The district consists of 22 elementary and intermediate schools, eight middle schools and eight high schools. Many schools in the district receive positive ratings from parents and are well-ranked within the state of Mississippi. Residents of Hernando refer to their city as Mississippi's Front Porch." The centerpiece of the city is the historic downtown square. The district features the DeSoto County Courthouse and other buildings that showcase southern history."
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 have more experience with closings and real estate contracts than the typical buyer or seller, but not many of them want to work with rent to own deals. A commission from the sale of a home is much larger than the commission a realtor will receive from rent for the first few years of a lease-option deal.
Instead, visit title companies to make sure the property is eligible for rent to own, consult with a lawyer to ensure that the contract benefits you and meet with a mortgage broker to find out when the buyer will be ready to close on the home.
About Our Listings
When you rent to buy a condo or a townhouse, you’re taking the first step toward becoming a homeowner. You can take advantage of many rent to own by owner programs with no credit check. Having bad credit shouldn’t stop you from owning one of your favorite apartments or houses.
While you lease-option or lease-purchase, you’ll work on improving your credit score and saving up a down payment so that you can qualify with the bank for the house you’re interested in. The bank is frugal with mortgage approvals because they often end up selling foreclosed homes for cheap prices because people cannot afford their mortgage payments.
When you lease to purchase, you’re making yourself into a better candidate for purchasing properties. Check out Rent to Own Lab’s free listings to find properties near me that meet your family’s needs.
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