Rent to Own Homes in Owens Cross Roads
Owens Cross Roads is located in northern Alabama, approximately 15 miles south of Huntsville. Although this Madison County town was settled in the mid-1800's, it was not incorporated until 1967. According to the United States Census Bureau, the population of Owens Cross Roads is more than 1,800 residents.The below results are primarily rent to own homes in :
Owens Cross Roads is located in northern Alabama, approximately 15 miles south of Huntsville. Although this Madison County town was settled in the mid-1800's, it was not incorporated until 1967. According to the United States Census Bureau, the population of Owens Cross Roads is more than 1,800 residents.The below results are primarily rent to own homes in :
The median income of households in Owens Cross Roads varies widely, depending on the source. Health care, manufacturing and technical careers employ over 40 percent of residents in Owens Cross Roads. The U.S. Census Bureau estimates the population density of Owens Cross Roads at nearly 235 residents per square mile. The average household size is between two and three residents, and the average family size is nearly three residents. Statistics show that this community attracts families, with more than 30 percent of households having children under age 18 living there. Residents of Owens Cross Roads can admire the varied landscape offered by the hills and mountains of the region. Surrounded by Keel Mountain and Green Mountain, residents do not need to travel far to experience the picturesque views of these natural landmarks. Water enthusiasts can enjoy the relatively calm waters of the Flint River before it merges with the Tennessee River south of Owens Cross Roads.
Buying vs. Rent to Own Homes
If you’re looking to purchase a home, you could fall into three categories: ready to buy, ready to rent to own and rent a bit longer. Buying is your best option, so if you’re ready, you should. Rent to own is also a good option because it sets you on course to buy a property soon.
If you’ll be ready to buy a property within the next three years, rent to own is the right option for you. Your lease term should be at least six months longer than how much time you need to qualify for financing; that way, you have some buffer room in case something goes wrong. Whenever you are ready, you can close on the home and start building equity on it.
If it’s going to take more than three years for you to qualify for financing, keep renting until you’re less than three years away. Just because rent to own isn’t right for you now doesn’t mean it won’t be in the future.
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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