New Orleans Real Estate FAQs | Will They Rent to Own?

    Rent to own is usually not the best option for home buyers

    We get a lot of calls from potential buyers asking if a home seller will do a rent to own in order to sell their property. The first thing we usually ask is why to you want to rent to own?

    Generally, it’s because there are credit issues that keep them from qualifying for a mortgage at this time.
     
    New Orleans real estate

     

    Our advice

    Find a place to rent while saving your down payment and working on your credit.

    Why settle for a handful of homes where the sellers may consider what is essentially owner financing when, with a just a little work and time, you can improve your credit score and choose from ANY house that fits your wants, needs and budget without as much money out of your pocket?

    Warning: Most owners who are willing to privately finance are not willing to do it without a substantial down payment – often in the range of 20-25% of the purchase price.

    We have several local lenders that can walk you through the exact steps needed to bring your credit score up to the point needed for loan approval. Give us a call at 504-327-5303 and we’ll be happy to give you a referral to any of them.

     


    Searching for the right place in New Orleans to call home? We’ve got them all, right here. Thousands of homes for sale, experienced agents and someone waiting to help you today. Call us at 504-327-5303 or contact us here.

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    About our blog

    Our agents write often to give you the latest insights on owning a home or property in the Greater New Orleans area.