Circumstances are forcing me to relocate sooner rather than later. I was looking at picking up a house next year if everything goes as planned.
As of right now I’m forced to look into a new appt but I am considering rent to own. My real question is who knows anything about it?
Is it a horrible idea?
Where do i find listings for them?
Where should I even start looking to find more information?
Has anyone done this?
What are your experiences with it?
Bump for the day crew. Someone has to know something.
What about a SONYMA type loan where you don’t really have to put anything down? Your $8000 rebate should cover closing costs and payments on a 30 year usually arent much more than a comparable rental, even if you have to pay PMI for a year or two. You might even make out better locking in at today’s interest rates even if you have to borrow more, since it’s nearly unanimous that they’ll be higher a year from now.
I know nothing. Doesn’t sound real good reading that though.
rent to own is pretty much a scam unless you can pay the same as you would just to rent the place.
if you’re not going to live in a house for 5 years, don’t buy one.
rent to own is a horrible idea… nothing protects you, and chances are you arent going to stay there long enough to OWN it…
so you will end up leaving and loosing all of your “equity”