Lease Option Buyers

 https://rent2ownutahhomes.com/pages/3551/Buyers

Buyers

Regardless of your ability to get a loan, you can own a new home!

FIRST TIME BUYERS Some people are tenants by choice. But most people would prefer to enjoy all the benefits of owning a home if at all possible. It can be the single most important investment you ever make. A lot of people’s personal wealth is made up mostly from equity they’ve built through years of responsible home ownership. Our company works with buyers just like you who dream of owning a new home but simply cannot get a new loan in today’s competitive housing market. Even if your credit is less than perfect, you have self-employment income or insufficient time on a job to qualify for traditional lending, WE WILL WORK WITH YOU to help you own the home of your dreams. We can even help you own a new home if you’ve had a recent bankruptcy or foreclosure. Regardless of your situation, we are here to help and provide a solution that meets your unique circumstances.

HIGH EARNERS

Thinking outside the box with Seller Finance or Owner Will Carry is a fantastic way to lock in the home you want now, build equity and recieve all the tax benefits that come with ownership. No need to wait until you fit into the lending box, learn how to leverage your cash flow and purchase one or multiple properties via Seller Finance!

Find Out How Rent to Own Works In Utah

Seller Finance Buyers

 https://rent2ownutahhomes.com/pages/3552/How-Rent-to-Own-Works

How Rent to Own Works

How Rent To Own Utah Homes Works

Rent to Own (also called a Lease Option) or Seller Finance is perfect for people who want to stop throwing their money away on rent, month after month, and instead want to start building equity in their new home immediately.

You first pay a nonrefundable Downpayment Option Fee that will be applied to the final purchase price of the home. Your option fee entitles you to be able to purchase the home at any time throughout the option period (usually 24 months) at the lowest market price we can negotiate on your behalf.

Throughout the option period, you’ll be leasing at a negotiated rate. This rate is typically determined by the balance of the purchase price after deducting the down payment and are typically higher than traditional purchase mortgage rates. Since you’re going to be purchasing the home, most sellers have few concerns over pets or how you want to spruce up the home. Unlike a regular rental though, you become responsible for any house maintenance.

Why Our Buyers Succeed

We set you up for success by taking extra steps to protect you and ensure you are able to finance at the end of your term.

• We qualify you for a lease option or seller finance home just like we would qualify you for a traditional purchase by having you speak to a lender to determine your purchase price. At the end of the day, you will need to be able to qualify for a loan and it only benefits you to purchase a home you can afford.
• All rent payments are processed through a third party escrow company, which ensures any mortgage is paid before the seller receives any money
• You will be able to lock down the purchase price of the home. In an appreciating housing market such as ours, this can mean your home may be worth 5-7% (depending on current market appreciation) more than at the beginning of your lease term. YOU will get to keep all of the appreciation, not the seller.
• You will gain equity through monthly rent credit. A portion of the rent will be applied to the purchase price for all on-time payments throughout the term of the lease.
• You will be enrolled in a credit restoration/credit building program. We will be able to monitor your progress and offer assistance throughout the process

Find Out The Requirements To SUCCESSFULLY Purchase A Rent To Own Home In Utah

Owner Will Carry Utah

https://rent2ownutahhomes.com/properties.html

 

Featured Properties

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Provo, Utah 84604
4606 Brookshire
$897,900
MLS Number: 1810247
Status: Active

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Bountiful, UT 84010
3500 S / 336 W
$800,000
Bedrooms: 5
Bathrooms: 3
MLS Number: 1832409
Status: Active

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Eagle Mountain, Utah 85005
5038 N Cliffrose Dr
$599,000
Bedrooms: 3
Bathrooms: 2
MLS Number: 1819733
Status: Active

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Bountiful, UT 84010
1885 S / E
$595,000
Bedrooms: 5
Bathrooms: 3
MLS Number: 1808492
Status: Active

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American Fork, Utah 84003
647 N / W
$850,000
Bedrooms: 7
Bathrooms: 4.5
MLS Number: 1798213
Status: Active

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Sandy, Utah 84094
8012 S / 1000 E
$799,999
Bedrooms: 5
Bathrooms: 3
MLS Number: 1828427
Status: Active

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Sandy, Utah 84092
9894 S / 1760 E
$679,900
Bedrooms: 5
Bathrooms: 3
MLS Number: 1810859
Status: Active

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Bountiful, Utah 84010
N / 550 E
$699,000
Bedrooms: 5
Bathrooms: 2.5
MLS Number: 1813897
Status: Active

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Midvale, Utah 84047
7540 S / 635 W
$639,900
Bedrooms: 4
Bathrooms: 3
MLS Number: 1815137
Status: Active

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Draper, Utah 84020
16050 S / 2047 E
$750,000
Bedrooms: 5
Bathrooms: 3.5
MLS Number: 1807299
Status: Active

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Rent To Own Utah

 https://rent2ownutahhomes.com/pages/3558/Why-Choose-Seller-FinanceLease-Option

Why Choose Seller Finance/Lease Option

Why Seller Finance, Lease Option or Rent to Own?

Buyers: 

Many buyers have sufficient employment income, down payment etc. However due to any one of the many "Life Events" that we all go through you may not fit into the traditional finance box.

A buyer may be self employed, had a recent divorce, injury , medical bankruptcy or may have just moved to the area for a new job.

Owner Financing generally allows a buyer to purchase a home, even when they do not currently qualify for a traditional mortgage. It does not matter if you are self employed, or have damaged credit.

Some benefits include: 

• Fast Transaction! These transactions generally 3 weeks or less to complete.
• Superior to renting because the home is being sold, not rented.
• Your purchase price is locked in and you begin building equity right away.
• Great for purchasing in an up market because when the market rises, so will your equity in the home. Sellers are more flexible with their terms     

Sellers:

Many sellers may not have enough equity to cover the cost to sell their home traditionally and need to carry the property for 3 to 5 years.

Sellers may be facing a job transfer, divorce or other reasons that require selling now and renting is not a viable option.

Seller may own the property free & clear and want to be the bank for a buyer.

Here are a few common benefits of seller financing:

• Allows a home owner to sell a difficult to sell home – often quickly and at a higher price!
• Fast Transaction! These transactions generally take 3 weeks or less to complete.
• Avoids a foreclosure and short sale in cases where the home owner can no longer afford a home
• Usually does not require seller to bring cash to closing – even in cases where the home has little or no equity.
• Superior to renting because home is being sold, not rented. Seller does not have to worry about maintaining the home going forward. The Seller does not need to “Landlord” the property.

Benefits for both parties:

Low loan costs. No origination fee, no underwriting fee, no JUNK fees.

• Close when you both agree.  It is amazing what can be done when greedy banks are eliminated.
• Re-establish good credit the best way possible- By making monthly payments on your home.
• Buyers can become established in a home and neighborhood NOW before home prices increase more.

 

Relocating to Utah

5 Things You Need to Know When Moving to Utah!

 

Ranked #1 Economy in the US

Salt Lake City has been recently ranked the #1 Economy in the country by 24/7 Wall Street. Salt Lake had the lowest unemployment in July during the recent pandemic and a current unemployment rate of 4.5%. In the past 5 years, Utah's first quarter economic growth was at 3.4% compared to the national GDP growth rate of 1.9%. Utah also boasts as one of only 7 states with less than 10% poverty rate and is among the top 5 for infrastructure and fiscal stability. Sources Fox 13 Now and USNews.com.

 

Neighborhoods

Utah's beautiful and diverse terrain has something for everyone. Whether you're the city dweller who enjoys the hustle and bustle of city life or whether you prefer more the more quiet setting of country life, Utah has it all and everything in between. From scenic mountains and rock formations to picturesque lakes and rivers, Utah has something to offer everyone!

Some of our popular neighborhoods include:

Daybreak - A master-planned community offering lakes, parks, shopping, dining and more! Residents have access to the community center as well as 5 pools, free paddle board rentals and more!

Sugarhouse - A trendy area that features nightlife, eateries, sports bars, cocktail lounges and nightclubs. The shopping scene includes unique boutiques, thrift stores as well as brand name chains.

Downtown - Beautiful downtown features beautiful architecture of both the Salt Lake Tabernacle and Mormon Tabernacle. There is plenty of shopping and dining at the City Creek Center mall, nearby stores and restaurants.

Park City - Few people have not heard of beautiful Park City, home of the 2002 Winter Olympics, epic powder skiing at the Deer Valley Resort and Park City Mountain Resort as well as unique eateries and pubs.

 

Fun Outdoor Activities

Utah is well known for it's world class skiing and beautiful mountainous landscapes. This beautiful state has something for everyone!

National Parks and Monuments - Home to 5 national parks, 7 national monuments and 2 national recreation areas, Utah is a haven for people who crave the beautiful scenery that our great country has to offer (source utah.com).

Skiing & Snowboarding - Utah boasts 10 world class ski resorts with epic powder snow just a short drive from nearby towns/cities. From resorts like the world renowned Snowbird and Park City Ski Resorts, to back country skiing and snowboard, there is snow sports available for every age and skill level.  

Hiking & Biking Trails - Scenic hiking and biking trails are usually a short walk or drive from home. The landscape ranges from sand dunes to scenic waterfalls to canyons and everything in between. 

Lakes & Rivers - Whether you're wanting to go white water rafting down the Green River or soak some rays at Lake Powell, or take photos at the Flats at the Great Salt Lake, Utah has over 2000 lakes and 89,000 miles of streams (source extension.usu.edu)

 

Strong Housing Market

When moving to a new state, a strong housing market can be a deciding factor for a lot of families. Utah has not only strong economic growth and job security but also has one of the strongest real estate markets in the country. Utah boasts #1 in home growth in the country (source novationtitle.com) and #1 in new home builts in the country (source sltrib.com). 

 

Renting vs. Buying

When considering a move to any state, one of the most important considerations is whether or purchase or lease a home. Purchasing a home can pose many challenges, such as timing the purchase of a new home after the sale of an old home, finding the best location that meets yours or your family's needs or finding the right lender that will get your the best rates or help you with your challenging lending situation. Team Zen Utah is a one stop shop that will work hard to meet all of your real estate needs, whether they be:

Short-term lease option or seller financing - If you are needing to move but still need to sell your current home, we can help you prevent a double move! A short term lease option or seller financing purchase is a perfect solution for those who, for one reason or another, cannot take our bank financing.

Credit restoration and building - If you help you restore and build your credit and help you formulate a plan to purchase a home. 

Local heroes program - If you are a hero (law enforcement, military, school teacher, medical professional, government worker, non-profit or hospitality), we will give back to you when you purchase a home through us. We will also greatly discount your listing fee when selling a home as well. 

Creative lending programs - We work with lenders that find creative programs to fit your specific needs. 

Owner Financing Utah Homes

 https://rent2ownutahhomes.com/companyinfo.html

Meet Our Team

Mike Manczuk

Born in Kansas and having emigrated to Utah at the young age of 15, Mike has spent over 40 years of his life in the Wasatch Front. An avid skiier, biker, beach volleyball player and Chief's fan, Mike enjoys numerous outdoor activities and spending time with his family and two children, Kaden and Jade. He enjoys eating healthy plant-based foods and finding ways to give back to the community. Mike has been buying and selling his own real estate for over 30 years and has been a licensed agent since 2005. He has been specializing in lease option and seller financing starting in 2010.

Lisa Baird

A Taiwan native, Lisa immigrated to the United States when she was just four years old. Her family settled in a small suburb outside of Philadelphia where she finished her grade school studies and graduated from high school. She enrolled and graduated from the presitigious school Lehigh University in Bethlehem, Pennsylvania with a bachelor of science in Molecular Biology. She spent a couple of years in the biotech field before making a career change and moving to Las Vegas to pursue modeling and bartending. Lisa currently lives in Utah and has a daughter, two cats and multiple fish. Her favorite activies include cooking plant-based meals, outdoor activies, fish keeping/aquascaping and traveling. She is also an animal and human rights activist. She is a licensed real estate agent in both Utah and Nevada.

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Opening Doors Is What We Do...

Our Mission: 

To serve you, our customer, with integrity and respect, by delivering a unique and valuable service that is committed to helping you accomplish your Real Estate dreams. We promise to be fair, honest and provide a professional service that meets your needs.

Team Zen Utah:

Serving buyers, sellers and investors for over 17 years. Over 47 million dollars in closed transactions. Through our unique Rent to Own / Lease Option and Seller Financing Programs, we are able to help buyers and sellers create a win win transaction.

Brokerage service provided by Integra Realty.

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Members of

• Salt Lake Board of Realtors 

• National Association of Realtors

                

Lease Option Salt Lake City Utah

 https://rent2ownutahhomes.com/pages/3554/Frequently-Asked-Questions

Frequently Asked Questions

Rent To Own Frequently Asked Questions video  

 

The process of Rent to Own in Utah is the same as buying a house with traditional financing. You first have to establish a “credit package” and determine any issues keeping you from getting traditional financing. 
If your credit is not ready for underwriting then you simply enter the 24 Month Success Program where you will have time to resolve any remaining issues keeping you from getting financing. Either way you must start an application to get into a home.

What are the minimum Down Payment requirements to buy a Rent to Own Utah Home?

We do not set “minimum” down payment requirements to buy a Rent to Own Utah home, the lenders do! If your goal is to actually OWN your home you will need to have the minimum down payment to qualify for traditional financing. Here are some examples of down payment requirements:

FHA – 3.5% of the Home’s Purchase Price ($10,500 on a $300,000 home)
Conventional – 10% of the Home’s Purchase Price ($40,000 on a $400,000 home) 

Owner Financing – 20% or more of the Home’s Purchase Price ($100,000 on a $500,000 home) and can be more depending on the situation

Putting more money down ultimately increases YOUR financing options. 

How Long is the Rent to Own or Lease Option Agreement?

Your Credit Package will determine how long the Rent to Own or Lease Option Agreement will extend. The better your credit the shorter the term.

Why do you want a shorter term? Because of the HUGE tax benefits that come when you can get traditional financing and own your own home!

To find out exactly how long your term will need to be Apply Today!

I have bad credit – Can I still qualify to buy a Rent to Own Utah Home?

Even if you have bad credit you can still qualify to buy a Rent to Own Utah Home! The status of your credit will determine the term (length) of the lease option period.

Does the monthly payment go toward the purchase price when buying a Rent to Own Utah Home?

Sometimes a portion of the monthly may go to the purchase price when buying a Rent to Own Utah Home. Every home and the available terms are different. However, as a good rule of thumb, any amounts you pay in excess of the lease rate on a monthly basis will go toward the purchase price of the home.

Does the monthly payment go to the homeowner when I Rent to Own in Utah?

Your monthly payment does NOT go the homeowner when you Rent to Own in Utah. Rent to Own Utah Homes ALWAYS structures the monthly payment to be safely and securely handled by a third party escrow company. This protects both parties from a bad rent to own or lease option scenario.

How do I qualify to buy a Rent to Own Utah Home?

Qualifying to buy a Rent to Own Utah Home is easy. You start by completing a basic mortgage application.

From there we will start your credit package to determine the requirements needed for you to successfully buy your home. After you’ve signed a Buyer Broker agreement to have us represent you, you may start shopping for your new Rent to Own Utah Home from all of the properties in the available inventory.

Contact Mike & Lisa today to get started 801-708-3513