Frequently Asked Questions

General questions about our company, service, and properties we offer on this website:

  • What is the difference between Owner Financing and Rent to Own?
  • What is the Owner Financing process?
  • What happens at the end of the Rental Period?
  • What if I have bad credit? Can I still get a home with owner financing?
  • Is there a required down payment?
  • What are the benefits of owner financing?

What is the difference between Owner Financing and Rent to Own?

Owner Financing (also known as Seller Financing) is when the seller of a property acts as a bank to sell a property to a buyer. When this happens, the buyer becomes the owner of the home and will have a mortgage on it…just as if they had purchased it from a bank.
Rent to Own (also known as Lease Option) is when the buyer rents a property with the intention of buying it in the next year or two. This time enables the buyer to improve his/her credit or build funds needed for the down payment.

What is the Rent-to-Own process?

The process is actually pretty simple.

Once you’ve seen one of our fantastic properties,

  1. Lock it up! Provide a check in the amount of the first month’s rent. If we decline you for ANY reason, you get a 100% refund.
  2. Complete the online credit application. This is to make sure you can make the monthly payments and we are required to do this by Federal law.
  3. Complete the process. Meet with our leasing agent to complete the paperwork, pay the option fee, and get the keys to your new home!

That’s the process!

First stepsign up to find great properties around INDIANAPOLIS just by filling out the form.

You’ll get immediate access to great INDIANAPOLIS homes, plus a whole lot more.

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What happens at the end of the rental period?

Our Rent-to-Own program is also called a Lease Option, because you Lease the property (another word for rent) and have the Option to own the property. At the end of one year, one of the following will happen:

  1. You get a loan and buy the property. Banks provide better interest rates (lower payments for you), so you should try to get a bank loan. We can help with credit repair and down payment assistance to increase the likelihood you will qualify.
  2. You need more time. Perhaps your credit has improved, but not enough. Or, you need more time to compile the rest of the down payment. That’s okay…you can renew your lease for another year.
  3. You decide you do not want the property. Remember, it is your option. If you do not exercise it, you can just move out.
  4. You need Seller Financing. If you have made every payment on time and have built up the 10% down payment, but a bank will not provide you with a loan, you can get a loan from us. This is the Seller Finance part of the purchase.

What if I have bad credit? Can I still get a home with Owner Financing?

Yes you can! Many people with bad credit can still buy a home without a bank.

Every situation is different, but we specialize in helping people who have been through tough circumstances (or just made mistakes in the past) to get started on the path to a great financial future and home ownership.

So fill out the form at the bottom of this page now and get your piece of the American dream!

What are the benefits of Seller Financing?

There are a lot of benefits of Seller financing!

In the INDIANAPOLIS area, lots of smart people are using Seller financing as a way to get the home of their dreams without having to qualify for a bank loan. Plus you are saving thousands on closing cost or points that are standard with dealing with a traditional mortgage or lender.

In the past few years, banks have been very tight on their lending criteria.

So don’t wait! Get started now by filling out the form at the bottom of this page.

 

Is there a required down payment?

Yes but we can be very flexible.

Our INDIANAPOLIS homes range in price from $40,000 to $150,000 and typically require a down payment of $4,000 to $15,000 for Seller Finance or $2,000 to $7,500 for Rent-to-Own. We have found that this is the best price range to find homes that are in decent neighborhoods where people want to own a home and raise a family.

So don’t wait! Get started now by filling out the form at the bottom of this page.

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