Rent to Own Houses in Monroeville, AL
Click on a property to view details
All of these homes can be either rented or rent to own. Please visit the Single Family Homes page to see if a property is available to rent.
The Rent to Own Process
Typically speaking, when you buy a house using conventional financing, they require a 20% down payment. There are other programs that allow for a much lower down payment, however if you are looking for a Rent-to-Own property there is obviously a problem as to why you can't go the "normal" route. If you went the traditional way, your interest rate would be lower. My interest rate is higher than today's rates, but this is intended for a short term solution while giving you the chance to fix the problems that are holding you back from obtaining bank financing.
To get a Rent-to-Own property you will need to:
- Have a 10% down payment
- Provide 6 months of bank statements, 6 months of check stubs, and fill out the residential loan application
- Make 3 times the amount that the monthly payment will be
- Be responsible for insurance, yearly taxes, and any other expenses that comes with homeownership
If you make the money to cover the payment, but have a pile of bills that you pay every month, you don't qualify.
I'm about seeing people succeed and I will never set you up for failure by allowing you to get into a house that you can't afford.
If you have a 10% down payment and meet all the other requirements, I am more than happy to let you see the properties. Below is a link to a residential loan application. Please fill this out and send the required documents to ThePrineGroup@outlook.com if you are interested in any of the houses.
Respectfully, if you don't meet the requirements, don't make appointments to see the properties. Work on your finances and get back to me. I have houses that become available often and really would like to help you become a homeowner!