At Kodiak Property Management our rent-to-own program is as simple as it says – you rent a home from us for a period of time and then at some point in the future you go to the bank, get a mortgage and buy it from us. It is important to know that right from day one there is no obligation on your part to buy. If you change your mind you do not have to make the big financial commitment. You can keep renting or move onto another place.
We realize that life plans change and we do not want to tie you down. You should be the one deciding what is best for you at every point in your life, and buying a house is one of the biggest financial decisions you will ever make.
WHY DO YOU NEED US?
Honestly not everybody does, but there are some people who have bruised their credit and banks see them as too high of a risk to lend them money at this time. If this sounds like your situation we may be still able to get you into a home, while at the same time work with you to improve your credit score until the lenders like you again.
There are other people that have just started working for an employer and do not have the employment history that will convince their bank they have a secure future that will allow them to continue to make monthly payments on a mortgage. Quite honestly, we have more faith in you than your banker does and in many cases we are more trusting and willing to work with you before your banker.
Another reason people come to us is simply because at this point they do not have all the required down payment to give to the bank in order to satisfy the banker’s needs to give out a mortgage. If you fall into this group of people, and as long as you qualify into our program in other categories that we see as important, then we still may be able to help.
The other type of client that comes to us are those who are new to the country and have no credit history at all. As a result the banks are unsure of the financial stability and therefore will not lend to them at all at this time.
If you have any combination of these issues currently in your life and can’t go to your banker to get approved for a mortgage that is where we come in. Essentially we bridge the gap between now and when you can go to the bank on your own. We help you and advise you until you are ready to approach your banker. It is our job to help you succeed and we will do everything we can to make that happen.
WHY IS OUR PROGRAM SO POPULAR?
It’s popular simply because it is designed specifically for you. Every person we work with is in a different situation and has different needs. We match your life situation with the type of housing you want and location in a community that you want to live and can afford.
If we feel that you want a home that you really can’t afford, then we will be honest and tell you. We want to set you up to succeed because we truly believe that when you succeed then so do we. When you finally get into that home you have always wanted, and sooner than you thought possible, we know you will be happy with us. From there we are confident that in the future you will send people our way so we can help them out as well. In the end it is a win-win for everyone.
HOW DOES RENT-TO-OWN BENEFIT YOU – THE TENANT/BUYER?
Most people who cannot go directly to the bank and get a mortgage have some problems either managing their money or they are just starting out and don’t have all the money necessary to give to the bank for that big down payment. So the only option they think is available to them is to rent. Well if this is your thinking, you’re wrong!
Instead of putting your monthly rent into paying someone else’s mortgage, why not put some of it into your own mortgage and start feeling like a home owner today?
We set a monthly rental rate that you can afford and part of that rent will go toward completing your down payment. That point in your life may be 1 or 2 years down the line and we determine those timelines with you when you start renting from us. Essentially what we are doing is setting up a program where you have no choice but to succeed in becoming a home owner as long as you follow our simple guidelines.