“Am I ever going to be able to buy a house??” The simple answer is yes. There are many options to achieve homeownership, some options you may not have thought about before. One such opportunity is rent to own in Las Vegas. 

Rent-to-Own in Las Vegas

Have you been renting year after year, with no luck in getting any closer to purchasing a home? Maybe buying a home still seems like a dream. You are not alone! I have clients all the time who make amazing money but don’t have the cash on hand for a down payment. So many people think they are stuck, but I am here to say that you can buy a home, and I have a program that might work for you. 

This rent-to-own program is not the typical rent to own in Las Vegas. This program gives hopeful renters the chance to lease their dream home for up to 5 years and buy anytime they are ready in that timeframe. Renters can live in the home with locked-in rent rates and purchase prices, that you know up front, and the option to buy it at any point. At the end of your 1-year lease term, you can renew for another year or walk away with no penalties. All it takes is a simple pre-approval process and work with a realtor familiar with the program to find the right home for you. 

The best part about this rent-to-own program is, once you get approved, all you need to do is find a home you love The limit currently is $500K with most areas of Las Vegas having homes that qualify. Unlike some assistance programs that limit you to only certain areas of town. The company will purchase the home, ensure it is move-in ready and has no major issues, and then you get to rent it at locked-in rates and decide when you’re ready to purchase at any time. The bonus is that if you decide you don’t like the house, you can choose to walk away at the end of your lease term with no penalties. Sounds too good to be true? It isn’t. But it does require a pre-approval process to get qualified.  

Get Your Ducks In A Row

Even before applying for this rent-to-own program, you want to assess where you stand financially and review some important factors, including credit score and determining where you would like to buy a home. Take some time to check a few numbers, such as your credit score, so you know where you stand and where you might need to make improvements. 

You will need a 620 credit score or above to qualify. The application process for a rent-to-own program may include more questions about your history as a renter as well. There are a few decisions you want to make before jumping into the process: 

  • Decide how much you feel comfortable or is feasible for you and your family to spend each month on your mortgage payment (or rent payment).
  • Find a real estate agent and/or lender that you trust
  • Consolidate all financial documents, including W-2 statements, bank statements, federal tax returns, student loan statements, proof of income deposits, and pay stubs.

Once these steps are completed, you are ready to get approved to rent to own in Las Vegas! 

Let’s Find Your Home

If you are tired of renting and ready to get into a home that you love, this program can get you there. All you need are the right steps to get out of the rental rut and into home ownership and building wealth through homeownership. Every situation is a little different, but I can guarantee you that there is a program out there that will work for you. As a real estate agent in the Las Vegas area, I can assure you that we can find the home of your dreams together. If you have any questions about the above steps, or need a little help along the way – I’m here to help! Connect with me here to get started on finding your home today.