Our Rent to Own Process
Whatever your circumstances, JAAG’s Rent to Home 4-Step Solution is built to ensure you get the keys to your new home. During the rent to own process, our certified team will be by your side every step of the way. We’ll assist you in finding your home, building your credit score, obtaining your mortgage and buying the home you’ve always dreamt about.
What Are Rent to Own Homes?
Rent to own homes, also known as lease-to-own or rent to buy homes, are a type of agreement in which a person rents a property with the option to purchase it at a later date. This arrangement allows tenants to live in the property as renters while also having the opportunity to buy it in the future. Rent to own homes can be a beneficial option for individuals who may not have the immediate financial means to purchase a home but want to work towards eventual ownership.
Start the rent to own process today!The JAAG 4-Step Rent to Home Process
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Find Your Home Now
Find Your Home Now
Let’s start shopping!
Let a certified rent to own specialist help you find your new home! Our team at JAAG understands the importance of loving the home you live in. That’s why we work with our clients to help them get into a home of their choosing. Decorate, renovate, and add all your own personal touches — after all, Home is Where The Heart Is!
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Move In Today
Move In Today
It’s moving day!
This is the day you’ve been waiting for – moving day. While enjoying your new home, you’ll begin saving towards purchasing your home.
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Save Money & Build Credit
Save Money & Build Credit
You’re 36 months away from being a homeowner!
We do this through a consolidated payment that consist of your mortgage payment, property taxes, property insurance and a savings credit, that builds your down payment.
At this point in the rent to home process, our JAAG Credit Team will be working alongside you to improve your credit score through our Credit Education Service, and we’ll provide you with complimentary coaching on budgeting to improve your overall money mindset.
Don’t worry. You won’t be alone in securing your mortgage; our team will pair you with a trusted Mortgage Specialist.
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Become A Homeowner
Become A Homeowner
Congratulations! You’re a homeowner.
At the end of the rent to home process, you’ll be financially secure and qualify for a traditional mortgage. Now, you can buy the home at the predetermined purchase price making you a homeowner.
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How Rent to Own Agreements Work
Rent to own agreements work by allowing a tenant to rent a property with the intention of purchasing it at a later date. In these agreements, with the help of a rent to own agent, we work to help the future homeowner build up their credit score by arranging manageable monthly payments. After a period of 1-3 years, the tenant will often have improved their credit score and saved a down payment to qualify for a traditional mortgage, becoming a full homeowner! You can learn more about our rent to own process by watching the video below.
Hello, and welcome to JAAG Properties. The goal of this video is to explain how JAAG’s rent-to-home solutions works so that you can determine if it’s the right fit for you and your family. JAAG is dedicated to helping families become homeowners through our unique Rent To Own Program. We help individuals who are unable to obtain a conventional mortgage get into their chosen homes today. Here’s how it works.
How JAAG’s Rent To Own Program Works
The first step is to complete our rent-to-own application, which you can obtain here: jaagproperties.com/pre-approval-form/. All we require is that you have a steady stream of income and a deposit. We will approve you for a specific purchase price. You are then able to work with a realtor to find your chosen home. If you are already working with a realtor, you are welcome to continue to work with that realtor to pick any home that is for sale and fits your needs.
When you find a home, JAAG will buy the home. Instead of paying a full down payment on the home, you will make a smaller deposit to JAAG. The minimum deposit is 3% of the purchase price. The entire deposit goes directly towards the purchase of your new home. This down payment ensures that you have a right to the property and that the agreed upon purchase price will not change within the Rent To Own Program. This payment is called the initial option consideration.
On closing day, you move into your new home and start the Rent To Own Program. The Rent To Own Program typically runs for 36 months but can be sped up to 24 months or lengthened to 48 months if needed. Keep in mind that these term lengths are not fixed, and you can complete the Rent To Own Program at any time. JAAG only requires the first month’s rent when you move into your new home and do not require you to pay last month’s rent deposit.
Building Credit with JAAG’s Support
Throughout the Rent To Own Program, a portion of your monthly payment will be credited and added to your initial option consideration. This monthly credit is called the monthly option consideration. One of the benefits of working with JAAG is that we have a full credit team that is available to you during the entire Rent To Own Program. Our credit team will work with you to rebuild your credit, fix any credit issues, and ensures you are successful throughout the term. The credit team will work with you to obtain a mortgage by the end of the term. This saves you from having to shop around or apply to the bank for a mortgage.
How Our Rent To Own Program Works in Practice
Let’s take a look at a quick example with simple easy to remember numbers. Let’s say you find a home that you love, and the purchase price is $500,000. With an initial option consideration of $24,000, your estimated monthly payment would be around $4,500. Your $4,500 monthly payment will cover the mortgage, property taxes, insurance, plus the monthly option consideration. In this case, JAAG would save you approximately $1,000 per month as your monthly option consideration. Over a thirty-six-month term, this would create an additional $36,000. At the end of the Rent To Own Program, the initial option consideration of $24,000 plus the additional monthly option considerations of $36,000 would be credited to you. You now have a total of $60,000 to use for your down payment on your mortgage.
Why Choose JAAG Properties
Here are just a few reasons why people love our rent to home solutions. You get to start living in your home today even before you have good credit and the full down payment. You won’t have to move again if a landlord sells a rental. You can purchase the property at any time within the Rent To Own Program and the purchase price will not increase. The purchase price of your home is predetermined and agreed upon at the beginning of the Rent To Own Program. During a normal rental, you are unable to build equity. However, with JAAG’s unique Rent To Own Program, any added equity or completed renovations means money in your pocket. Nothing beats appreciation. The program gives you plenty of time to shop around and wait for the best interest rate on your mortgage. This allows you to get the lowest monthly mortgage rate possible. We are flexible with our monthly payments, purchase prices, and other terms to customize the Rent To Own Program to ensure your success. When your mortgage is approved, you purchase your home without the hassle of having to move again. And the best part is you don’t have to pay any realtor commissions.
Start Your Rent-to-Own Process Today
Please take a moment to fill out the application form so we can get you on the right path to becoming a homeowner today. Remember, it is completely free and there are absolutely no obligations. JAAG Properties will contact you shortly after receiving your submission with the next steps to complete your rent-to-own client file. We believe that together, we can successfully complete your Rent To Own Program and achieve homeownership for you and your family sooner than you ever thought possible. Remember, your success is our business.
Start the rent to own process today!
We’re here to help at every step
We’ll be guiding you through every step of the process, and you’ll have access to the following services.
Credit Education
All JAAG Rent to Home Solution members have access to a Certified Financial Planner who will guide them to financial security through coaching and budgeting – making it easy to save for your down payment
Real Estate Support
Real estate support is essential, and we’ll supply you with a trusted real estate agent for the entirety of our rent-to-own program. If you aren’t working with an agent, we’ll have one available for when you need one.
Mortgage Financing
Our trusted network of experienced mortgage agents will work with you to ensure you are successful in obtaining a mortgage for your home.
Lease Back Options
Do you need a little cash to get back on your feet? Stay in your home and Let JAAG take ownership of your home temporarily while you take the time necessary to build up your financial security once more.
Halal Homeownership Options
JAAG’s Halal Homeownership options allow you to build equity right away, while enjoying the freedom and benefits of owning a home even before you have the funds to purchase.
Start the process today!
