Rent to Own Homes in Pendleton
Pendleton is located in central Indiana, 35 miles northeast of Indianapolis. As a small town within Fall Creek Township, Pendleton is also a convenient 12 miles southwest of Anderson. According to the United States Census Bureau, the population of Pendleton approaches 4,300 residents.The below results are primarily rent to own homes in :
Pendleton is located in central Indiana, 35 miles northeast of Indianapolis. As a small town within Fall Creek Township, Pendleton is also a convenient 12 miles southwest of Anderson. According to the United States Census Bureau, the population of Pendleton approaches 4,300 residents.The below results are primarily rent to own homes in :
Pendleton was incorporated as a town in 1854. It was named in honor of town founder Thomas Pendleton. The area is integral in Native American history, as a site of punishment of white settlers for the unlawful treatment of Native Americans. Abolitionist Frederick Douglass paints a vivid picture of his experiences in Pendleton in his historic writings. His tales include an incident where he suffered an attack during a convention speech that he was delivering in Pendleton in 1843. Despite his assault, he emphasized the kind nature of Pendleton residents, referring to good Mrs. Hardy a gentle woman who cared for him following the attack. Families living in Pendleton are served by the South Madison Community School Corporation. Students residing within the district attend one of three elementary schools before transitioning to Pendleton Heights Middle School for seventh and eighth grades. Pendleton Heights High School, sometimes shortened to Pendleton High School, is the final stop in the educational journey of Pendleton students.
Buying vs. Rent to Own Homes
Renting to own a home and buying a home both have the same end goal – you own the house you’re interested in. The difference between the two is your timeline. Buying a property is a great idea if you’re sure about the property and you have financing to purchase it today.
Lease-options are a good idea when you’re having doubts about the house or if you’re not financially ready to own the house you’re looking at. They’re a good option if you almost have a high enough credit score, a steady enough job history or a big enough down payment to qualify for financing on the home, but you need some more time to qualify. Rent to own gives you time to get your affairs in order, ability to try out a house and flexibility to close on the home when you’re ready – without having to wait for the end of a lease.
To be clear, if you can buy a house today, you should do it. If you’re looking at buying within the next three years, rent to own is a good way to start the process.
Rent to Own Realtors
Realtors can qualify buyers to get an idea of when they will be ready to purchase a rent to buy home and inform them on how long to set the lease term, but mortgage officers can do that too.
Banks can make a lot of profit off of a successful mortgage. That’s why mortgage officers will be willing to help you figure out the details of your rent to own deal. However, real estate agents don’t make enough profit off of rent to own deals to justify waiting a few years for the commission.
While real estate agents might be a logical partner in rent to own deals, you’ll have a lot of difficulties finding one to help you. For everything you think you need a realtor for, consider what other types of professionals might be able to help you, like title companies or lawyers.
About Our Listings
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These programs are a great way to buy a condo or townhouse if you have bad credit. In fact, lease purchase and rent to buy programs usually offer cheap homes with no credit check. Just make sure you look at your lease to purchase agreement to understand whether you have the option or obligation to buy the home you’re looking at. Lease-purchase agreements require the buyer to purchase by the end of the lease term, while lease-option agreements give the buyer the option to buy.
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