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Rentals in Beaumont : Real Estate Advice

  • All59
  • Local Info8
  • Home Buying28
  • Home Selling0
  • Market Conditions2

Activity 4
Mon Jul 24, 2017
Sheryl Arndt answered:
Hello Adam, you did not mention the maximum payment you are looking to achieve? The 5bd
3ba single family home rentals start from $2,100 to $2,300 in Beaumont. Some may be available for immediate occupancy. You should check with the local rental management companies for their inventory as well.

You should study RENT vs BUY listings to compare payments. You may qualify to buy with minimal out of pocket expenses with down payment and closing cost assistance programs. Purchases can take 30-45 days after getting an offer accepted on the home of your choice.

The purchase for 5bd 2ba single family homes start from 292k in Beaumont and you may qualify to buy and pay less than rent in Beaumont.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve and you can be emailed listings to fit your search criteria. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA/CalVet Loan Specialist
Credit Repair Advice At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
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Wed Aug 17, 2016
craigslist has quite a few.
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Sat Dec 22, 2012
Kelli J. Moreno answered:
I have a 3 bed/1 bath apx. 1400 square foot home for rent in Cherry Valley for $1,075 per month available now if you are still looking. Rent includes electricity, gas and water. (951) 660-3200 ... more
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Mon Sep 24, 2012
Trevolyn Haines answered:
Hello Katina,

Like any transaction, you need to do your due diligence.

I have known several people (buyers & sellers) that have successfully used rent/lease to own contracts- though in the last couple of years Jim is correct that the would be buyers haven't fared as well; but then again neither have the vast majority of traditional buyers (many of which have had losses in equity greater than $25k & $50k).

Now that most markets are starting to stabilize (and some are starting to even see increases in sales and home prices, less inventory, and increasing rents) you may find a rent to own contract a useful tool in your quest to buy a home.

Before you start looking for rent to own opportunities: I recommend that you speak to a reputable lender in your area. Find out your credit scores (get a copy of the report) and what you need to do to increase it. Find out how much of loan you will be able to qualify for & how much you need for down payment (for an FHA loan the down payment starts at 3.5%!!! & for Homepath eligible homes only 3%!) and closing costs (usually between 4-6% but some programs like FHA allows the seller to pay them for you!). If you are low to moderate income, ask if you qualify for any county or city programs (not all lenders do them so you may have to shop around).

After that you will have a good foundation to start looking at homes whether it be to buy, rent to own, or just rent.

Whatever you decide, I also recommend getting an agent that is knowledgeable in what you want to do and good at negotiating to help you achieve your goals.

Best of luck,
Trevolyn Haines
Century 21 Showcase
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