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Q. How Does LTOAMERICA Lease To Own Work?
A. Our lease to own program works very simular to actually buying a home. The program gives you the tenant/buyer the right to lease and purchase a home for a period of up to 2 to 3 yrs. (the length of term can be adjusted/customized to your circumstance). The LTOAMERICA program locks in the price of the home as if you have already purchased it and cannot be increased. As the home increases in value while you're living in it; the equity would be essentially growing in your name, often giving you instant equity when you finance and buy the home. MORE EQUITY BUILDERS BELOW, KEEP READING!!!
Q. Does any of my monthly lease payment go toward buying the home?
A. Yes It Does! Again, just like when you buy a home, each and every month, a portion of your monthly payment will be going toward buying the home (straight to principal). No more wasting money on rent and getting nothing for it.
But there's more! In the LTOAMERICA program, you will be getting 3 to 4 times per month going to principal than if you would have gotten financed. This gives you even more rapid equity building power, which helps you to get your financing in place that much quicker. So stop wasting your money on rent and making your landlord rich. STILL MORE EQUITY BUILDERS BELOW!!!
Q. Is the monthly payment higher than normal lease or rent payments?
A. Absolutely Not! In the LTOAMERICA program the monthly payments are in direct proportion to the average market rents in the area and often below.
Q. Are there any up front fees to get started in finding a home?
A. No! You pay nothing up front to work with a LTOAMERICA Representative.We will work with you and show you properties until you find the home you have decided is the one you want to purchase through our program. At that time you will fill out an application. There will be a $55.00 application fee at that time.
Q. Is there an initial investment/down payment once I choose a home and am approved?
A. Yes. The initial investment will generally be somewhere around 3% of the purchase price of the home. A few typical examples of an initial investment would be: ($100,000 home = around $3000; $150,000 home = around $4500; $200,000 home = around $6000).
NOTE: Again, just like buying a home, 100% of that initial investment goes directly toward the purchase of the home (straight to principal/equity).
Q. Do I have to choose a home in your inventory?
A. No! LTOAMERICA has numerous ways to work with you on other homes. If we do not have a home that meets your criteria once you are ready, we will begin to specifically target homes that meet your criteria until we find a home for you; we are usually pretty good at finding you a home quickly.
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In some cases, you can even pick out your own home that is available for sale out there on the market; we will attempt to acquire it for you and put you in it under the LTOAMERICA program. (Please call for details on this program).
Q. If I’m self employed, can I buy a home through your program?
A. Yes! As long as you have some proof of income from your business we should be able to help you get into a home with no problem.
Q. If I have had a Bankruptcy or Foreclosure or have Liens can you still work with me?
A. Yes. In most all cases we will still be able to get you into a home and back into homeownership through the LTOAMERICA program.
Q. Besides the help I get with the equity build up I get from any appreciation that may accrue while I'm living in the home, and the help I get from the equity I would get from my monthly payments, and the equity I get from the initial investment. Do I get any additional help or assistance in buying the home once I move in.
A. Yes! FREE, yes FREE and part of the LTOAMERICA program, is complete Credit Restoration and Counseling Assistance. This is not simple credit repair. We will help you to literally rebuild your entire Credit Profile through all 3 Major Credit Bureaus, and Counsel you through whatever it is that is preventing you from acquiring your financing for your home.
Q. Do I have to finance the home through LTOAMERICA and if so, what would the interest rate be.
A. No. Our goal is to simply get you financable. Once you have reached that point, you are free to get your financing through any lender of your choice (we will however, usually have lenders to recommend to you, that have the best loan packages/offers we can find). Your interest rate will depend on what is being offered by lenders and/or the market at the time you are ready to finance.
Q. Is it hard to Qualify for a LTOAMERICA home.
A. Absolutley Not! Because Credit Restoration and Counseling is one of our specialties, we can work with virtually any credit status. We will help you get into a home and ultimately finance and buy the home, just as we have done for many others just like you.
Give Us A Call Now And Let's Get Started Making You A Homeowner!
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