Rent to Own Homes in San Juan
San Juan is located near the southern tip of Texas, 10 miles north of the Pharr–Reynosa International Bridge, which connects the United States and Mexico across the Rio Grande. This Hidalgo County city lies a short eight miles south of Edinburg, the county seat. According to the United States Census Bureau, the population of San Juan approaches 37,000 residents.The below results are primarily rent to own homes in :
San Juan is located near the southern tip of Texas, 10 miles north of the Pharr–Reynosa International Bridge, which connects the United States and Mexico across the Rio Grande. This Hidalgo County city lies a short eight miles south of Edinburg, the county seat. According to the United States Census Bureau, the population of San Juan approaches 37,000 residents.The below results are primarily rent to own homes in :
Most children living in San Juan are served by the Pharr-San Juan-Alamo (PSJA) Independent School District. Several district elementary schools are located within the city limits of San Juan. Two district middle schools and the PSJA Collegiate High School Program are also within the community. The South Texas Independent School District offers specialized programs to middle and high school students living in Cameron, Hidalgo and Willacy counties. Residents of San Juan do not need to travel far to find the services that they need. The San Juan Memorial Library offers a busy events calendar and easy access to technology. The San Juan Post Office is available to fulfill residents' mailing and shipping needs. San Juan is proudly home to the Basilica of the National Shrine of Our Lady of San Juan del Valle, a famed area landmark.
Buying vs. Rent to Own Homes
The difference between buying a home and signing up for a lease-option depends on your timeframe and how much money you spend on buying the house.
When you buy a house outright, you pay for the fair market value of the home plus interest and other fees charged by your financial lender, if you have one. You buy the property today and immediately start building equity in it.
However, when you rent to own, you won’t own the home until you close on the property, which could be as far as three years from today. You’ll also pay rent monthly, and you don’t get that money back.
There are some fees that you pay for rent to own that you’ll get back as a credit towards the price of your home, like option fees and rent credits. These count as equity on the home, but they’re not on the scale of equity you would build with a mortgage. Therefore, these don’t add anything on to the price you pay for the home the way that rent does.
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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