Rent to Own Homes in McAlester
The quintessential small Oklahoma town, McAlester has a no-nonsense, friendly atmosphere. Amenities and activities are abundant, from excellent McAlester Public Schools and an active McAlester Public Library to fishing at Lake McAlester and shopping in the Old Town Antique District. As an added bonus, transportation around town and the region is easier with U.S. Highway... Read More
The quintessential small Oklahoma town, McAlester has a no-nonsense, friendly atmosphere. Amenities and activities are abundant, from excellent McAlester Public Schools and an active McAlester Public Library to fishing at Lake McAlester and shopping in the Old Town Antique District. As an added bonus, transportation around town and the region is easier with U.S. Highway 270, U.S. Highway 69 and State Highway 31 cutting through town. Also, the Indian Nation Turnpike runs along town’s western border, and Interstate 40 is just 35 miles north.
The town has a long history, celebrated with McAlester’s many designated historic buildings. While not the first settler in the area, James Jackson McAlester, or J.J. McAlester, helped open a trading post in the region and bought many of the area’s coal rights. The town was named for him. The establishment of the McAlester Rail Depot in the late 19th century further cemented the area’s importance. At one point, South McAlester and North McAlester operated as separate communities, but the two were united as McAlester in the early 20th century. The below results are primarily rent to own homes in Pittsburg County, OK:
The quintessential small Oklahoma town, McAlester has a no-nonsense, friendly atmosphere. Amenities and activities are abundant, from excellent McAlester Public Schools and an active McAlester Public Library to fishing at Lake McAlester and shopping in the Old Town Antique District. As an added bonus, transportation around town and the region is easier with U.S. Highway... Read More
The quintessential small Oklahoma town, McAlester has a no-nonsense, friendly atmosphere. Amenities and activities are abundant, from excellent McAlester Public Schools and an active McAlester Public Library to fishing at Lake McAlester and shopping in the Old Town Antique District. As an added bonus, transportation around town and the region is easier with U.S. Highway 270, U.S. Highway 69 and State Highway 31 cutting through town. Also, the Indian Nation Turnpike runs along town’s western border, and Interstate 40 is just 35 miles north.
The town has a long history, celebrated with McAlester’s many designated historic buildings. While not the first settler in the area, James Jackson McAlester, or J.J. McAlester, helped open a trading post in the region and bought many of the area’s coal rights. The town was named for him. The establishment of the McAlester Rail Depot in the late 19th century further cemented the area’s importance. At one point, South McAlester and North McAlester operated as separate communities, but the two were united as McAlester in the early 20th century. The below results are primarily rent to own homes in Pittsburg County, OK:
Buying a Home in McAlester?
Homes in McAlester are very affordable, with a median home price of $118,000. The median price per square foot of McAlester homes is just $61. Occasionally, the median home price here bumps up to $144,000. These McAlester median prices are well below the national median home price of $201,900 and $123 per square foot. Local homebuyers can expect to find many homes available for less than $75,000, and there are also a number of grander, larger homes priced above $350,000.
Buying vs. Rent to Own Homes?
Compared to a conventional home purchase, renting to own a home is often considered more accommodating for those with tight budgets or imperfect credit. Rent to own homes don’t require a mortgage right away, so renter-buyers have time to build their credit ratings and save up for a down payment. They can move into the home right away, and they make monthly progress with rent premium payments. In contrast, conventional homebuyers must wait 30 to 90 days for escrow to close before they can move into the home, and they need to provide a down payment and mortgage at the outset.
Located in eastern Oklahoma, halfway between Oklahoma City on the west and Fort Smith, Arkansas on the east, McAlester is a down-to-earth hometown. It is probably best known for its major employers, including McAlester Army Ammunition Plant and Oklahoma State Penitentiary, but the city offers employment in a wide range of industries. In addition to a low unemployment rate, McAlester boasts a nationally ranked high school and numerous parks and recreation sites.
Summary
Located in eastern Oklahoma, halfway between Oklahoma City on the west and Fort Smith, Arkansas on the east, McAlester is a down-to-earth hometown. It is probably best known for its major employers, including McAlester Army Ammunition Plant and Oklahoma State Penitentiary, but the city offers employment in a wide range of industries. In addition to a low unemployment rate, McAlester boasts a nationally ranked high school and numerous parks and recreation sites.
Rent to Own Realtors
Working with a realtor doesn’t guarantee that you will successfully complete a rent to own deal, but their knowledge and expertise can make a big difference in your success rate.
Unfortunately, not many realtors will want to work with you on a rent to own deal. There isn’t a lot of profit for a realtor in rent to own deals.
So, you’ll need to find others with the knowledge and expertise you are looking for to ensure a successful lease-option experience. Consider consulting with a realtor, a title company and a mortgage officer instead. These professionals are better than a realtor because they are experts in their respective fields, as opposed to realtors who know a good deal about each of those rent to own factors.
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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