The ABQ Rent 2 Own Program
Our program is your opportunity for affordable, secure home ownership!
What does Rent 2 Own mean?
Rent 2 Own means you have a Long-Term Lease and an Option. The Option gives you the exclusive right to complete the purchase of your home when you are ready. The Option period lasts for 10 years. During this 10-year period the purchase price of your ABQ Rent 2 Own Home is fixed, meaning it will not go up even as your home appreciates and increases in value. Rent 2 Own means you have the ability to move into the home you love. It means you can get your Family out of apartment living and stop the cycle of throwing all of your money away to the landlord!
Rent 2 Own means you have a Long-Term Lease and an Option. The Option gives you the exclusive right to complete the purchase of your home when you are ready. The Option period lasts for 10 years. During this 10-year period the purchase price of your ABQ Rent 2 Own Home is fixed, meaning it will not go up even as your home appreciates and increases in value. Rent 2 Own means you have the ability to move into the home you love. It means you can get your Family out of apartment living and stop the cycle of throwing all of your money away to the landlord!
Is Rent 2 Own right for me?
Our program is specifically designed for people who are tired of renting, but have not been able to realize their dream and potential to own their own home. Often times, it is because one or many of the following obstacles has stopped them from being able to qualify for a traditional mortgage through a bank or financial institution:
* Low credit
* Bankruptcy
* Arrest record
* Length of employment
* Difficulty proving income
* Large down payment or deposit required
* Long and complicated qualification process by bank or lender
(If any of the obstacles listed above apply to you, it’s worth making a phone call to ABQ Rent 2 Own Homes to see
how we may be able to work with your situation.)
Our program is specifically designed for people who are tired of renting, but have not been able to realize their dream and potential to own their own home. Often times, it is because one or many of the following obstacles has stopped them from being able to qualify for a traditional mortgage through a bank or financial institution:
* Low credit
* Bankruptcy
* Arrest record
* Length of employment
* Difficulty proving income
* Large down payment or deposit required
* Long and complicated qualification process by bank or lender
(If any of the obstacles listed above apply to you, it’s worth making a phone call to ABQ Rent 2 Own Homes to see
how we may be able to work with your situation.)
What does it take to qualify for the Rent 2 Own program?
It’s easy to qualify with Abq Rent 2 Own Homes. Low Credit is OK, and we can usually work with many of the items listed above. There are just 3 things that may preclude you from qualifying for our program if they are in your credit history:
* Evictions or Judgments by a landlord
* Foreclosure of a home
* Recent auto repossessions (within the last 5 years)
There is also a simple income requirement. We want you to be successful! We follow the national housing model of requiring your total Family income before taxes to be at least 3 times the monthly payment. For example, if the monthly payment is $1,100 per month, your Family income before taxes must be at least $3,300 per month.
It’s easy to qualify with Abq Rent 2 Own Homes. Low Credit is OK, and we can usually work with many of the items listed above. There are just 3 things that may preclude you from qualifying for our program if they are in your credit history:
* Evictions or Judgments by a landlord
* Foreclosure of a home
* Recent auto repossessions (within the last 5 years)
There is also a simple income requirement. We want you to be successful! We follow the national housing model of requiring your total Family income before taxes to be at least 3 times the monthly payment. For example, if the monthly payment is $1,100 per month, your Family income before taxes must be at least $3,300 per month.
How do I get started?
Our homes go very quickly! Follow the steps below to get started right away so you don’t miss out on the Abq Rent 2 Own Home of your choice. These steps have been modified to accommodate social-distancing due to COVID-19.
1) First, find the Home you are interested in by visiting the Homes Available section of our free website. Our website is updated daily.
2) Next, call us at 505-821-2299 and we will pre-qualify you, then e-send you an application.
3) We'll review your application(s) for all household members above the age of 18 years. Then if approved, we send you an e-invitation and lockbox code to the Home for inspection. Also check out the backyard, and look at the neighborhood to make sure it is a good fit for your family.
4) If you like the Home, call us to arrange completing the paperwork and making the initial payment (which includes the first monthly payment; the Option Fee $2,900; the refundable Lease Security Deposit $500; and the Pet Fee $300 if applicable). Then we'll give you the keys to move into your own AbqRent2Own Home! CONGRATULATIONS!
Our homes go very quickly! Follow the steps below to get started right away so you don’t miss out on the Abq Rent 2 Own Home of your choice. These steps have been modified to accommodate social-distancing due to COVID-19.
1) First, find the Home you are interested in by visiting the Homes Available section of our free website. Our website is updated daily.
2) Next, call us at 505-821-2299 and we will pre-qualify you, then e-send you an application.
3) We'll review your application(s) for all household members above the age of 18 years. Then if approved, we send you an e-invitation and lockbox code to the Home for inspection. Also check out the backyard, and look at the neighborhood to make sure it is a good fit for your family.
4) If you like the Home, call us to arrange completing the paperwork and making the initial payment (which includes the first monthly payment; the Option Fee $2,900; the refundable Lease Security Deposit $500; and the Pet Fee $300 if applicable). Then we'll give you the keys to move into your own AbqRent2Own Home! CONGRATULATIONS!
If you have any questions about our program please call us at 505-821-2299. We will be very happy to speak with you. And be sure to ‘like’ us on Facebook!
Please also visit the Testimonials page of our website to hear from our happy residents and colleagues!
Please also visit the Testimonials page of our website to hear from our happy residents and colleagues!
How long does the qualification process take?
Once we have received your application, it usually takes less than 5 days to approve your Family.
Once we have received your application, it usually takes less than 5 days to approve your Family.