1 year, 5 months ago
How can rent with option to buy help my bad credit?
Can option to buy home rentals help people with poor credit? How can I get a home rental in a nice neighborhood?
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M$1 Answer
Renting a house with an option to buy at the end of the lease agreement can increase creditworthiness. The determining factor is to make absolutely sure that your landlord reports your payment history to the credit bureaus on an ongoing basis. This will ensure that any potential lenders will be able to see that have you made timely payments. This type of lease agreement is excellent for potential homebuyers with poor credit. It provides for a means of home purchase for buyers that otherwise wouldn’t qualify for a conventional home loan due to credit problems.
As far as locating properties of this caliber in good neighborhoods is concerned, you’ll have to search your local listings in your local newspaper or other source. You may also find the property and the desired location by speaking with someone in the leasing office. More than likely if they offer at least one property rental with an option to buy then they may have several in different locations.
As far as locating properties of this caliber in good neighborhoods is concerned, you’ll have to search your local listings in your local newspaper or other source. You may also find the property and the desired location by speaking with someone in the leasing office. More than likely if they offer at least one property rental with an option to buy then they may have several in different locations.
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
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