Rent vs Buy in Fremont>Question Details

Dogs9170, Home Buyer in Fremont, CA

I'm looking for a 2bed/2bath for rent to buy I've lived in my present duplex for the past 24 years but rent keeps going up. All owners,

Asked by Dogs9170, Fremont, CA Sat Sep 22, 2012

Please help I also have 2 Shih Szu dogs very good and cute

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"Rent to buy" is good in theory but not very good in reality. In the current, market the only seller who would do a rent to buy with you is one who would be getting a very good deal. That would not be to your advantage. At the end of the lease period you would probably find out that you had been paying rent that was above market and you would still have to have a down payment and be able to qualify for a loan. While part of your rent may have been set aside for the down payment you could kiss it good-by if you could not qualify for a loan. If you can't qualify now, what makes you think you will be able to then?

Talk to a mortgage lender now and find out what it will take to put you in a position to buy as soon as possible.
1 vote Thank Flag Link Sat Sep 22, 2012
Hi,
With interest rates at an all time low this is a good time to buy. There are a couple of lenders with very good programs for first time home buyers that are better than FHA. Stop your rent from increasing and buy your first home!
0 votes Thank Flag Link Sat Sep 22, 2012
To be honest, there are not a lot of rent-to-own opportunities out there right now – they don’t make much sense in the current market. I’d recommend you meet with a lender to find out what your options are, then hook up with a local realtor who can help you finally get out from under a landlord.
0 votes Thank Flag Link Sat Sep 22, 2012
If someone renting apartment for $1500/mo for 10 years, you have paid $180K and you don't own anything.At this time, you could buy condo/townhome for this money.Check the link for detail.Good luck!

http://www.prlog.org/11917246-buy-vs-rent-for-first-time-hom…
0 votes Thank Flag Link Sat Sep 22, 2012
Hi dogs9170,
The best way to prevent rent from going up year after year is become your OWN landlord.

Home ownership has never been more affordable. Extremely low interest rates, and relatively low home prices.

Have you thought about buying?
0 votes Thank Flag Link Sat Sep 22, 2012
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