Are there any Rent to own homes in Throgs Neck?

Asked by Angie22, Bronx, NY Sun Jun 17, 2012

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Anna M Brocco, Agent, Williston Park, NY
Mon Jun 18, 2012
Keep in mind that rent to own opportunities are rare and they may not be listed as such, therefore do work with an agent of your own. Rent to own can be risky and one could stand to lose a bit of money, therefore do inform yourself well beforehand, and do consult with an attorney who specializes in real estate; rather if you haven't done so yet, visit with any licensed loan officer, see if you can buy outright....
1 vote
Trevor Curran, Mortgage Broker Or Lender, Great Neck, NY
Mon Jun 18, 2012
Good morning Angie22,

I'm a veteran mortgage professional with 22+ years experience helping HomeBuyers. My professional opinion is to avoid rent to own situations. Instead, I'd be happy to sit down with you and prequalify you for mortgage financing. We'll review the basics of a successful mortgage approval: IAC or Income, Assets, and Credit. You'll know exactly what loan amounts and programs you're qualified for. If you're not ready yet, you'll learn that, too, and we'll create an "Action Plan" to prepare you for homeownership.

Rent To Own is a better deal for the Seller than it would ever be for a potential Buyer.

The basic concept is finding a way to "force" savings towards a down payment by including a portion of the monthly rental that goes towards that savings. You pay your rent every month and your Landlord deducts a pre-determined amount to hold in a special bank account, called an "escrow" account. Your Landlord holds that money until you have saved up enough---through this "forced-savings" method---to meet a down payment to purchase the home.

The terms of the purchase price, including the down payment amount, and the amount to be set aside from the rental for down payment, are all set down at the time of lease signing.

It's all about helping the renter/tenant save up enough money for a down payment to buy a home (in this case, the one you're renting). But this is a better deal for the Seller because he gets to lock in a purchase price and a buyer today for a future sale.

Saving money for a down payment? Well, heck, you can do that on your own.

If you are dedicated to the idea of buying your own home, you can create your own savings plan to save up enough money for a down payment. And when you have saved up enough for a down payment, if that takes a year or two or more, YOU get to decide on the price you're willing to pay for the house at that time based on current market conditions. You won't be locked in to a price that may be a lot higher than what the house is worth in the future.

With Rent To Own you'll be locked in both to the house and to the price, even if it takes you 3 years to save enough through the forced savings of the rent payments. What happens if three years from now your life situation has changed? Maybe you need a bigger/smaller home. Maybe your employment has relocated. Maybe your credit or income is insufficient to qualify for a mortgage loan.

Find a way to save up on your own; not with Rent To Own.

Give me a call to get prequalified. You may find you're better qualified than you think you are, and, if you're not, at least you'll know how much loan your income and credit qualify you for, and how much you have to save towards down payment and closing costs.

Trevor Curran
NMLS #40140
Office: 516-829-2900
Mobile: 516-582-9181
Fax: 516-829-2944
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
1 vote
Mildred Vale…, Agent, Bronx, NY
Thu Jun 28, 2012

It was great speaking to you the other day, as I said our office carries a huge inventory of rentals. I would also like to assist you in purchasing a home if that would be your option, I specialize in the Pelham and Throggs Neck area.

Cant wait to meet you!

Millie Valentin
Certified Buyer Representative
3928 E. Tremont Avenue
Bronx, NY 10465
0 votes
BX Future Ho…, Agent, BRONX, NY
Mon Jun 18, 2012
Hi Angie,

There are some ren toown around, but you would need a solid working & financial background, I do however have hundreds of apartments for rent on my apt for rent website at check it out to see if you see anythin you like.

Devi Dietz,
Gen Mgnr
Mack Realty
1156 Metcalf Ave
Bronx, NY 10472
Off: (718) 409-5135
0 votes
Jim Simms, Mortgage Broker Or Lender, Louisville, KY
Mon Jun 18, 2012
I hope not Angie, buyers do not understand how often these bad boys go south. They are not what you think they are, real estate is a lot more complicated that renting to own a couch. See the link below, I hope it keeps you from being hurt. Be sure to read the second part regarding how they are reviewed by the lender. Good luck,

Jim Simms
NMLS # 6395
Financing Kentucky One Home at a Time
0 votes
Thank you, I really was not sure how to go about this. Your answer really made me have a better understanding.
Flag Mon Jun 18, 2012
Mildred Vale…, Agent, Bronx, NY
Mon Jun 18, 2012

I have quiet a few rentals in the Throgs Neck area. Please call me direct at 646-57-4648 so we can talk in detail or even email me your qualifications and details to :
Our office has a huge inventory of rentals and I would be happy to help with this search.

Best of Luck!

Millie Valentin
3928 E. Tremont Avenue
Bronx, NY 10465
0 votes
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