From time to time we offer RENT TO OWN homes in Colorado Springs. If you would like to be added to our list to be notified about more upcoming Colorado Springs Rent to Own Homes please contact me.
The Rent to Own program is perfect for a person who wants to buy a home but needs a bit more time to build their credit so they can qualify for traditional financing. It does require a down payment which goes towards the purchase price of the home. This is typically around 3% of the home value because 3.5% is the minimum required for an FHA loan. If you intend to utilize a VA loan this down payment will be credited back to you at closing.
The benefits of the Colorado Springs Rent to Own program are:
- Lock in a purchase price today.
- Provides the buyer an opportunity to live in the house they intend to purchase so they only have to move once.
- Buyer gets to keep any appreciation that occurs during the duration of their term as the price is locked in from day 1.