Home Buying in Indianapolis>Question Details

no5outof6, Home Buyer in Indianapolis, IN

I am interested in purchasing a Rent to Own home in Indianapolis IN. This would be my first home purchase, and am looking for advice.

Asked by no5outof6, Indianapolis, IN Wed Feb 12, 2014

Help the community by answering this question:


Since rent to own properties may not be listed as such, consider working with an agent of your own. Keep in mind that rent to own can be risky and one could stand to lose a bit of money, therefore do inform yourself well, and consider consulting with an attorney who specializes in real estate beforehand. If you haven't done so yet, visit with any licensed loan officer, see if you can buy outright, or simply continue renting until a purchase can be made...
1 vote Thank Flag Link Wed Feb 12, 2014

Rent-to-own options are few and far between in the area. The ones that are available, you would spend about twice as much on it, as you would if you did a conventional purchase, where you purchase a home with a mortgage.

If you are looking at rent-to-own because of credit issues, I think it is wise to work on building your credit to where you could get a mortgage, instead of taking on another debt. The last thing you want to do on a lifetime investment like a home purchase, is to settle for a home just because it is rent-to-own.

You can visit my website here about Purchasing a Home with Bad Credit. It tells you what the minimum credit score is to get a mortgage, how to check your credit score for free, and a straight-forward way to build your credit up. You can also contact me through the website if you have any specific questions. http://www.soldbyavery.net/general/purchasing-a-home-with-ba…

Thank you.

Avery Garrett, Realtor
Coldwell Banker Kaiser
0 votes Thank Flag Link Tue Feb 18, 2014
Are you looking to purchase a home or rent a home with the option to buy? If you would like to see how much you qualify for, please contact me for help. I can offer financing options down to 580 credit scores. Larry Bernstein, Carrington Mortgage, NMLS #280597, (847) 815 - 8229. Thank you.
0 votes Thank Flag Link Wed Feb 12, 2014
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer