I am looking for rent to own options in the Trinity New Port Richey area.

Asked by Mark Hobbs, New Port Richey, FL Wed Mar 5, 2014

Help the community by answering this question:

+ web reference
Web reference:


Anna M Brocco, Agent, Williston Park, NY
Wed Mar 5, 2014
Rent to own is not a good idea, therefore fix whatever is preventing you from purchasing outright. 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
Jim Simms, Mortgage Broker Or Lender, Louisville, KY
Wed Mar 5, 2014
Hey Mark,

My limited research indicates about 97% of rent to own transactions do not end up with the buyer receiving title to the property. There are many reasons but the largest is that most contracts conflict with the mortgage guidelines so the buyer cannot pay off the seller by getting a mortgage when the time comes. ALL buyers believe the contract is between them and the seller, which is true until you reach the end of the contract and it is time to pay off the seller. The mortgage underwriter MUST follow the guidelines for the loan you use when that time comes. If the terms of your lease option conflicts with the guidelines, the loan must be declined. Millions if not billions are lost every year by people that try to circumvent the system that is there to protect them.

Another common mistake is the buyer uses a best case timeline instead of a worse case, huge mistake in the real world, stuff rarely gets fixed smoothly. It is hard enough getting to the closing table when all of the ducks are in a row, the lender has approved the loan request and everyone is on the same time line. “When am I going to be eligible for a mortgage loan?” Well intentioned loan officers will answer that question based on the single piece of information you provide. That is not how the underwriting process works, the application is reviewed in its entirety. Don’t let that burning desire to own a home deceive you. I get several calls a month from someone that believes they are now eligible because of some timeline, only to discover their timeline is just beginning.

Good luck,

Jim Simms
NMLS # 6395
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. This answer is my personal opinion, has not been reviewed or approved by the company I work for. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.
1 vote
Brian Nguyen, Mortgage Broker Or Lender, Mission Viejo, CA
Wed Mar 5, 2014
If you are interested in a rent-to-own option, I have an option that would be great for you. This rent-to-own option allows you to choose the home that you would like to live in. Then, the house is bought, but you would have a rent-to-own option on it. If you are interested in this route, feel free to contact me.

Good Luck!

Brian Nguyen
Sr. Mortgage Banker
NMLS # 659743
Phone: 949.667.2887
0 votes
Tim Kett, Agent, New Port Richey, FL
Wed Mar 5, 2014

I would be happy to assist you in your search. Depending on your requirements, I am sure we can find a home for you. Please let me know what your needs and price point are and I will do some research for you.

You can also call my cell or text me at 813-927-6082.


Tim Kett
0 votes
Peter Lee, Agent, New Port Richey, FL
Wed Mar 5, 2014
Hi Mark,

The previous answers are not without merit. I am happy to assist you with any real estate needs in Trinity.

All the best,

Peter J. Lee
Future Home Realty
727-848-1083 home
0 votes
Search Advice
Ask our community a question

Email me when…

Learn more