Rent-To-Own-CT.net

MY IDEAL HOME

For a search for what could be your Ideal Home, please take a moment to fill out and submit this page. We do not give out your information to anyone without your permission nor do we sell your information. Also, submitting this form in no way obligates you to anything. Once we get your submission, we will review your form, evaluate your specific situation and discuss how we can help you. Searches, showings, credit restoration, credit issue specialist lenders (our "golden needle in a haystack" lending team) and more. We are here for you. No worries !

Please check out Fair Market Rents first before submitting form below.

(click on link above)

* = required information

Invalid format.

(space) Single Family Minimum number of selections not met.Maximum number of selections exceeded.

(space) Multi-Family (2-5 units)

Condo Minimum number of selections not met.Maximum number of selections exceeded.

(space) Other : Minimum number of selections not met.Maximum number of selections exceeded.

Do you have any pets (other than service animals) ?

*

We strongly recommend for you to review the Rent-To-Own Qualification and Fair Market Rent pages before filling out the form above. This is important because it will help familiarize you with what is realistically available on the market today in the area(s) you are considering.

To see if you pre-qualify for a Rent-To-Own, this is what you do:

  • Look up Fair Market Rent (FMR) for the area(s) and number of bedrooms you are looking for.
  • (For a 5-bed, multiply 4-bed FMR by 1.15, for a 6-bed, multiply 4-bed FMR by 1.30, for a 7-bed, multiply 4-bed FMR by 1.45, for an 8-bed, multiply 4-bed FMR by 1.60, etc.)
  • (For a multi-family, use FMR for total # of beds in entire building, then divide FMR by total # of beds in entire building. Finally, multiply that by # of beds in unit wanted. For example, FMR for 1 unit of a duplex of two 3 bedroom units (6 bedrooms total), would be 4-bed FMR x 1.30. Then divide that by 6 and multiply by 3.)
  • Multiply FMR by 2.4.
  • You would need to make at least this much per month (gross income, before taxes).

For example, if Fair Market Rent is $1,500/mo., you would need to make at least $3,600/month (gross income, before taxes) [$1,500 x 2.4 = $3,600]. Fair Market Rent figures are not what the actual rent would be but simply a "ballpark" estimate of what the rent is likely to be. Actual rent could be higher or lower than Fair Maket Rent. Properties priced below 80 % of Fair Market Rent are highly unlikely to find. The more expensive the property, the higher the rent.

Regarding the exclusive purchase option, often a 'rent premium' is required. A 'rent premium' is extra rent paid for the option (not the lease). This is generally payable in full up-front. Most exclusive options cost between $5,000-10,000. If this is too much for you, no worries, an installment plan could be set up for the rent premium. This would add to the monthly 'regular' rent (rent covering the lease and not the option). This would lower amount due up front. Another option is a 2nd (or 3rd) annual rent premium.

Also, if a rent premium is required, a security deposit might not be. And, if you have pets (service animals excluded), there may be an additional pet deposit. To learn more about how the Rent-To-Own (lease with exclusive option to purchase) program works, please visit Tenant-Buyer FAQ's and Terms and Conditions.

NOTE: Property search is for rentals and "rent-to-owns". Not all rentals may have a purchase option available.

To begin the qualification process, click below for a FREE on-line

Rent-To-Own Application