Rent to Own Homes in Loves Park
Loves Park is named for Malcolm Love, a local landowner and industrialist whose land on the Rock River was a frequent gathering place for his fellow industrialists and civic leaders in the early 1900s. The land became known as Love’s Park and eventually attracted a railroad. The railroad drew many new residents and enterprises to the area, leading to the city’s incorporation as Loves Park in 1947.The below results are primarily rent to own homes in :
Loves Park is named for Malcolm Love, a local landowner and industrialist whose land on the Rock River was a frequent gathering place for his fellow industrialists and civic leaders in the early 1900s. The land became known as Love’s Park and eventually attracted a railroad. The railroad drew many new residents and enterprises to the area, leading to the city’s incorporation as Loves Park in 1947.The below results are primarily rent to own homes in :
Today, Loves Park contains 16.42 square miles of land and .43 square miles of water. Its 2016 population was estimated at 23,413. The average household size in Loves Park is 2.5 people, and the household median income was $50,284 from 2012 to 2016. Loves Park is five miles north of Rockford and nine miles south of the Illinois border with Wisconsin. Most of the city is located in Winnebago County, although a small southeastern portion is located in Boone County. Loves Park is part of the larger Rockford Illinois Metropolitan Statistical Area. The Rock River flows along the city’s southwestern border, and Rock Cut State Park and Volcano Park Adventure Park are within the town’s city limits, so there is plenty of recreation here. The town has a low cost of living, ample city services and lively entertainment. Loves Park hosts the annual Young At Heart Festival, a four-day festival featuring live music, carnival rides and an idol competition. Music is treasured in Loves Park, which is home to Cheap Trick lead singer Robin Zander.
Buying vs. Rent to Own Homes
Rent to own is a great option for people who want to buy a house, but are still working on getting the financing for it. People who are anywhere between a few months and three years away from qualifying for financing should consider rent to own.
Unlike renting, you don’t have to keep making rent payments for the full lease term. Once you’re able to close, you have the right to do that.
Rent to own is very similar to buying, in that buying is the end result of a successful rent to own deal.
The primary difference between the two is that rent to own takes longer than buying, which is the advantage of rent to own. It gives buyers time to get their finances in order to buy a home while not getting trapped into a lease term.
Rent to Own Realtors
Realtors are highly skilled at informing potential buyers and prospective sellers about rent to own. A realtor can help find the second half of the deal you have been searching for.
Unfortunately, not many realtors are interested in rent to own because there isn’t a lot of money for them in the process. In the past, that would constitute a serious roadblock to rent to own; however, there are plenty of websites available for buyers and sellers to find each other.
Completing your rent to own deal without a realtor could save the seller a lot of money on commission. That gives the seller some wiggle room on the sale price, which attracts even more buyers.
About Our Listings
Listing properties for traditional sale eliminates a big chunk of the buyer market. People with bad credit are left out of the traditional home buying process. Nonetheless, buyers who don’t qualify for mortgages are still in the market for apartments and houses.
Rent to own by owner programs with no credit check are an easy way for a seller to start earning money from their townhouse or condo in a market that isn’t viable, which appeals to new groups of buyers.
Through rent to buy and lease to purchase, sellers rent a property to potential buyers for a set lease term. During which, the seller earns profit through the rent buyers pay as a tenants. At the end of the lease, the buyer has the option to buy the property, or if they signed a lease-purchase agreement, they must buy it.
With a little patience, sellers can make rent money and the true value of their home from its eventual sale. Which is better than selling the home cheap and competing with bank-owned foreclosed homes that sell for less than market value.
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