We all want a nice place to live. And most of us DREAM to own the home we live in. But deciding if you should rent or own at this specific point in your life, may involve considerations that are unique to you.
Certainly your financial situation is one of those considerations (especially if you are struggling with past credit problems, or have a difficult time saving money for a down payment).
One of our goals is help all people, including those who may not have access to traditional bank loans, but who also truly desire to improve the quality of their life. If you are looking for someone who will give you a chance to prove you are credit worthy, we may be able to help.
On this page you will find links to information about properties that may fit your needs, and options you may have for moving into one of these home.
Look for links to documents that you can download (such as a rental application) and articles that describe unique ways to buy (and sell) homes that may give you some new ideas to explore.
Please use the "Contact Us" page to ask questions and discuss your next steps.
Monthly Rental
In a traditional rental agreement, we usually ask for a one year lease which automatically converts to a month-to-month rental after the first year.
You will need to provide us with evidence of verifiable income that is equal to at least three times your monthly rent. If accepted, we will ask you to pay the first month rent and a security deposit equal to one month rent. In most cases, pets are permitted with an additional pet deposit.
We also ask you to provide us with a current credit report and background check for each applicant. If you already have these documents (from another rental application within the last 90 days), that may be sufficient. Otherwise, we will send you the online link to a credit reporting agency who will ask your permission to send us the information we require (They will charge you $30 per applicant).
Rent to Own
In a Rent-to-Own arrangement (also known as "Lease-Option"), typically you pay a small option fee to "lock in" a future sale price for the home. You are not obligated to buy if your situation changes, but if you do "exercise your option", then your option fee is applied to your down payment and closing costs.
It is also customary for the monthly rent payment to increase by an amount which, like the option fee, is credited toward your eventual purchase.
By fixing the sale price now, you benefit from any appreciation in the home value during the option period (usually 1-3 years). You also have the knowledge that any improvements you make to the property will one day belong to you instead of your landlord.
One big benefit of a Rent-to-Own arrangement is that even individuals with poor credit can often buy a home this way, because during the option period you have time to repair a negative credit report. So long as you have steady employment and income sufficient to make the monthly payments, we can probably find a program that will work for you.
And if you have good credit now, but lack the down payment needed for a traditional bank loan, we can often help. By increasing your "regular" rent a small amount each month, we help you save today for those closing costs that will come due tomorrow. You "lock-in" a sale price now, but don't have to obtain financing until some day in the future. And often we can help you find the loan you need to exercise your option. Simply demonstrate a payment history (during the option period) that reflects your strong commitment to owning your own home.
In any case, maybe now is the time for you to find out more. Go to the "Contact Us" page and give us a call, or send an email, so we can discuss how best we might help you find your next new home.
Properties Available to Rent or Buy
Here are some of the properties we have available for Lease Option Purchase or Traditional Rental:
WA - Pierce County
WA - Thurston County
Application Documents