GoHouse Realty Properties FAQs

With GoHouse Realty's Lease-to-Own Program you are APPROVED REGARDLESS OF CREDIT!

Q: I am renting now, how is this different?

A: This is a way to help you get started toward BUYING your own home. Part of your rent payment goes toward the purchase. Instead of throwing away your money on rent each month, and having nothing to show for it at the end of the year RentToOwnUSA.net credits a portion of your monthly rent payment that will apply toward the purchase of the home (lowering the price you buy for). For example, if you are paying $1,500 per month for rent and you get a $250 rent credit per month, that multiplied by 12 or 24 months gives you several thousands of dollars that can be used as your down payment when you purchase. By leasing to own a home with RentToOwnUSA.net you do not need a 700+ credit score when it comes time to purchase, and in fact, you don't even need good credit! Contact us to find out why.

Q: Do I have to 'qualify' for this program?

A: Not in the usual sense of having to meet certain income and debt ratios, or achieving a certain credit score as would be necessary for most mortgage companies. Your credit, and finances are not the restriction they would be with a conventional mortgage company. Although it actually makes sense to buy a home this way even if you could get conventional financing today, many of our buyers do have some issues that need some time to be resolved. Even if you are able to get approved today, a lease option allows you to potentially keep the money you would use for your down payment, as you can use your equity as a down payment when you refinance the home at the end of your lease. Additionally, the fact that you can do a refinance rather than a typical purchase gets you a better interest rate, and lower payment...that can save you tens of thousands of dollars in the long run.

Q: My credit is REALLY bad. Can I still qualify?

A: Absolutely! Many of the people that use this program have had some credit problems in the past but are now ready to change their life and what's a better way than by owning your own home?

Q: Is the price of the home established in advance?

A: YES. The price of the home is decided at the time you sign the Lease Agreement and is not affected by the local market conditions.

Q: How long is the Lease-Purchase period for?

A: Typically we can give you twelve to twenty-four months, and even hirty-six months, in some cases, before you would need to complete the purchase. Each property is treated individually and we try to accommodate your own situation. HOWEVER, you may buy at any time within the length of the agreement. You do not have to wait till the end of the agreement.

Q: What do I need to get into my own Lease-Purchase home?

A: Only a small down payment, and the first months rent. We can even spread some of this out over 30-60 days.

Q: I may be a little short for my down payment, can you help me out?

A: We have a lot of competition for the homes as they become available. So if you don't have any money for a down payment, someone else that does may beat you to the opportunity while you are trying to get the money together. CLICK HERE FOR IDEAS ON HOW YOU CAN GET MONEY FOR A DOWN PAYMENT.
 
Q: Who pays the property taxes, insurance, and HOA dues during the Lease-Purchase?

A: The property owner. You pay the monthly 'rent' and utilities etc. until you actually complete the purchase.

Q: How do I find a Lease-Purchase home?

A: Click the " Seattle" or "Las Vegas" buttons, along the top of the page, to go to the list of properties we currently have available. Homes in this program sell very fast, often in hours rather than weeks or months. For this reason, you need to be ready to make a decision when you start looking for a home. We try to accommodate your moving dates, and if, for example, you need to give 30 days notice to your Landlord, you can probably secure your rent to own home and move in 30 days or so. We maintain a short list of buyers who are ready and able to move when a home they like becomes vailable. Some homes, therefore, are never even advertised. If you are serious about getting into your own home please give us a call and ask to be put on the list.

Q: Can you offer me any financing and when do I have to have my financing ready?

A: Yes, we can help with some financing, seller carrybacks, and so on. Although, the more money that you can come up with, the easier it is going to be, and the lower your monthly payments are going to be. Currently you only need a 3-3.5% down payment, and most renters have that by the end of their lease because of the rent credits, the down payment credit, and any equity in the home.

Q: I'm excited about building equity in the home before I even buy it. What are the best ways to add value to my soon-to-be home?

A: There are many ways to do this. Here are a few of the most effective ways:

Keep the lawn well maintained. Fresh Paint New Carpet Window Shutters A new mailbox A picket fence Clean up any trash laying around Add storage space such as a shed Newer appliances

Q: Am I allowed to have pets?

A: Yes! There are very few circumstances that disallow pets. We want you to get in the mindset of a homeowner. So that means we allow you to have pets and to decorate your homes as you please.

There is a list of dogs that are not allowed in these properties. Many insurance companies have stopped providing insurance with properties with certain dogs so we can't allow them either. We wouldn't want you to be in the position to buy your home and then it burns down and there is no insurance in place to rebuild it.

Q: What happens if I still can't buy the house after the period ends?

A: Well we try to put people in the home who are going to be proactive and do what's necessary to be able to purchase the home but if you for some reason aren't able to, we will try to work with you to extend the lease or perhaps throw in some of the financing. There is a possibility though that you will have to move out and go back to renting.

We want to keep our homes filled with people who are going to buy the home, not with people who are just going to continue to rent.

Q: What if at the end of the rent period I decide I don't want the house?

A: Well you have the option to buy it or not to buy it at the end of the rental term. If you choose not to, you generally will loose the down payment and rent credits. There are many people that want to get into these homes so they can eventually buy it and with you just renting for a bit then deciding you don't want it, you have taken away someone else's opportunity and that's why we make the down payment non refundable. We want people who are serious about changing their life in these homes!