You will need renter’s insurance for the duration of time until you actually acquire a mortgage and purchase a homeowners policy. The renter policy not only protects your contents but also your liability in the event someone got hurt on your property. It also protects you in the event the house is damaged: You will be responsible for lost revenue as well.

There are several reasons for that:

• We have been experiencing a home sellers market for several years, which means I have to pay over market value to lock up move in ready homes.
• We use Guaranteed Upfront Pricing which means even if the house you buy is a fixer upper and you get in there and spend additional money on upgrades and improvements you will not pay any more for the house at closing than you originally agreed to. Oftentimes rent to own properties get re-evaluated to determine if the seller could charge more.
• As an investor I am taking a chance on my tenant buyers so the tenant buyer must pay more to offset that risk.
• Unlike other types of investing where we have a very short timeline this is a longer term investment with more risk for me, the investor. There is a cost to you for that.

We cannot legally require you to use our credit repair agency however if you don’t, you run the risk of not ultimately getting a mortgage. It has been our experience that tenant buyers don’t use our credit repair agency because they think they don’t really need it, don’t want the expense or think they can do it on their own. 

• Please note what’s at risk if you do not qualify for a mortgage. You will have lost all the down payment you’ve built over the time. You will have lost all the rent payments you’ve paid during the time. You will have wasted time when you could’ve been moving forward.

Carefully consider the risks of not using our credit repair agency.

• As we mentioned above there is no guarantee BECAUSE we can’t guarantee WHAT YOU CONTROL.
• We exist to help deserving individuals and families buy houses.
• In the decade or more that our associated group has been doing this the only tenant buyers that have not been able to buy the house failed because they either had a life event (divorce, job loss etc) or they didn’t do the things they needed to do to get mortgage ready: Which was clearly explained, defined and they agreed to upfront.

• This is a common question and for a long time the answer was none however recently we have actually re-engineered our plan.
• Each month a portion (roughly 10%) of each payment goes toward the purchase price WHEN  YOU MAKE THE MONTHLY PAYMENT ON TIME. If the payment is not made on time not only do you lose that credit you also pay a late fee which means a significant cost to not paying on time.
  
•  Consider the difference between an on-time payment and a late payment. An on-time payment might get a $200 credit on price and a payment even a day late would be subject to a late fee of roughly $100 and you would lose the $200 credit meaning a net cost of $300.