Rent-to-Own Success Story

Today we have another success story to share with you, of two great people who completed the Rent-to-Own Path to Homeownership Program in just ten months and three days.  But this time, we’ll let the new homeowners tell it themselves. Here’s their letter:

August 6, 2014 

 Just over a year ago my wife Ida and I were stuck in what appeared to us as a never ending stream of bad choices and bad luck. The house we had built together had been foreclosed, we were both driving cars that were ready to die at any moment.

 While out driving looking for a place to rent we happened across a cute little house with a good size yard with a sign that read for rent/sale. Thinking that calling this number would be a waste of time due to bad credit we took a chance and called.

  Once we made an appointment to see the house we were told that if we were willing to follow the instructions to the letter for renting the house we could own it in about a year. At this point in our life we figured we didn’t have anything to loose so we jumped in feet first.

 After several months of on time rent payments and working with the credit folks we were starting to see some improvement in our credit.

  In less than a year we had followed every instruction and completed everything that we were asked to do and we were able to get a loan for the house and a loan for a new car. This program really works if you let it. Affordable Homes will give you the tools you need to dig yourselves out of a hole but it is up to you to make it happen. You need to do everything that is asked of you and make sure you stay in contact with the good folks at Affordable Homes through out the process and you can turn your life, credit and future around. I am very thankful to all the people at Affordable Homes for helping us to make our future a little brighter.

Respectfully,

Joe and Ida Bowen. (Home owners)!

Not on the Path to Homeownership program?  Watch our Path to Home Ownership Program Video, and visit our website www.affordablehomeforu.com to see a list of homes available that you can start your Path to Homeownership Program in now!  You can also reach our friendly counselors at 704-900-0404 to answer questions, and get started.

Until next time…

The Counselors at Affordable Home Provider

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Work-for-Equity Success Story

Ashley and Antonio contacted us earlier this year looking for a home that fit their budget and that they could customize to match their style.  Antonio, being a carpenter by trade, had lots of experience in remodeling.  What they didn’t have was a home they could call their own, and could have the freedom to make decisions on and changes to as they saw fit.  They called us looking for something they could buy with the Rent-to-Own Path to Homeownership program, not knowing about something even better… the Work-for-Equity program!

With the Work-for-Equity program, in exchange for remodeling their home as needed, they were able to get in with a lower down payment and a lower monthly payment.  Plus, the work they do on the home adds value, which is equity they are literally building for themselves!  See, their total purchase price was based on before repaired value.  So even once they get bank financing, they have an agreement in place that allows them to get a mortgage on their home at before repair value. Is that a deal or what?! 

Before

Living Room Before

During

Living Room in Progress

After

Living Room After

Are you inspired yet?  We are!  Give us a call at 704-900-0404 or send us an email at affordablehomeproviderllcsales@gmail.com to get started on your Path to Homeownership program today! You can also visit our website here to view the homes that are available now.

And a big congratulations on your beautiful home to Ashley and Antonio!  We’re so happy to see yet another client being successful in the Path to Homeownership program.

Until next time…

The Counselors at Affordable Home Provider

How Much Can Homeowners Really Save?

You’ve heard about underwater homes, but what about underwater lives? Up to your neck and drowning in a pile of financial papers and information, more than any human could possibly process, and crying out for help as the river sweeps you further and further away from the safety of being on the dry ground of financial safety? Once you reach the point where your debt outweighs your assets it’s so easy to say “Why bother? I’m already a goner.”

It’s no secret that most of America is financially struggling. With the country still recovering from the recession and jobs still hard to find in parts of the country, many people are having to take what they can get. Even if it means living a shiny degree in the dust of the attic while you flip burgers to keep the student loans under control. With record numbers of good people having no feasible choice but to take what they can get and shelf the dream job, often the job they went to school for, this underwater lifestyle is becoming the norm and the dreams are staying in the clouds. So what can you do? It’s no secret it would take literally thousands of dollars to dig the average American out of debt and set them back on their feet. But there is a secret. Time and compound interest.

Blah. Sounds boring. It is sometimes. But the important thing is that a little bit of savings and investing over time will have a huge impact on your life. If you, today, start saving $5.00 each week, put it in an investment with 6% interest, (like your company 401K,) and then let compound interest work it’s magic Would it even be worth the effort? That’s skipping one latte or one pack of cigarettes once a week. How much could that tiny savings possibly add up to?

This much:

$275.60 in 1 year.                                                                                                                   $567.74 in 2 years.                                                                                                              $877.40 in 3 years.                                                                                                              $,205.64 in 4 years.                                                                                                               $1,553.58 in 5 years.
$3,632.63 in 10 years.
$6,414.86 in 15 years.                                                                                                                 $10,138.11 in 20 years.                                                                                                     $21,788.44 in 30 years.                                                                                                  $42,652.40 in 40 years.

You tell us. Could you do without $5.00 each week? If the answer is yes, what about $10.00? After ten years you’d have $7,265.25. After forty years you’d have $85,304.80. In other words, after forty years your money would be worth over eleven and a half times what it was worth after ten. At only 6% interest! This, my friends, is the magic of compound interest. Imagine, for a moment, where it would be at 8% interest. How about 12%? If it’s too much math to do it your head, (because after all, you are human,) click the link below to the calculator that inspired this post and input the cost and savings you could get, after only saving a few dollars regularly. Hint: Try running the numbers if you invest the money you’ll be saving each month once you complete your Path to Homeownership program. Spoiler alert: There will be a lot of digits.

http://www.finishrich.com/lattefactor/ 

Other people do it… Why shouldn’t you too? So let’s work together to get your Path to Homeownership program completed, and get you on to having literally thousands of dollars, all from the investments you can make once you have the savings that come with homeownership.

Until next time…

The Counselors at Affordable Home Provider

Disclaimer: We are not a lender. We are not CFPs. We are Certified Affordable Housing Providers, committed to empowering families and individuals through our Path to Homeownership program to enjoy the American dream of homeownership. We are not a credit repair company. We are affiliated with local and national credit repair companies and lenders, who work with us to make the Path to Homeownership program a success so our residents are able to purchase their own homes.

Down Payments, Deciphered

Down payment: The percentage of the total cost of your new home that you are required to pay up front, in order for the bank to allow you to take out a loan and close.

Down payments are an integrated part of the Path to Homeownership program, ranging from 3.5%-10%, depending on what level of the Path to Homeownership program you start off in and on the type of bank loan you are going to get when you complete the program. With 20% still required for most traditional loans, the Path to Homeownership offers you multiple economical options. Let’s review the types of down payments needed for the various steps in the Path to Homeownership:

RENTAL DEPOSIT

To start a rental, you are required to put up a deposit equivalent to at least one month’s rent. If you have poor credit, or recent late pays, you may be required to put up a double deposit. At the end of your agreement, when the home is returned in the condition agreed on in your lease, your deposit is 100% refunded. Should you choose to stay in your rental and purchase it through the Path to Homeownership, your rental deposit can become part of your down payment.

VIP PROGRAM

With the VIP program, you are able to start your Path to Homeownership with a low down payment and first month’s rent, and build up your down payment to the 3.5% minimum needed by paying additional option/down payment money each month with your rent. Your monthly VIP payment varies, based on what you’ve put down, and what is still needed to reach that 3.5%. If you are in a rental and decide to move up, this is a great way to reach your goal.

LEASE OPTION

This is a powerful option for you, as a new homebuyer. To start the Lease Option, or rent-to-own level you need a minimum of 3.5-5% down. This is your down payment on the home from the bank’s perspective as well, so once your credit restoration/rebuilding is completed and you are able to refinance at a bank, your down payment has already been paid. While in your Lease Option, you have a standard monthly rental rate, and up to a $100 discount each month you pay on time. You also get rent credits each month you pay on time, and at closing these credits become part of your down payment!

AGREEMENT FOR DEED

This is a great way to jump-start your home purchase. With only 10% down you are able to get financing through the company, and in most cases this results in a lower payment than you would have at the Lease Option level. Part of your monthly payment goes towards principle and interest, just like a bank loan. You are able to enjoy the privileges and tax write-offs of homeownership. The 10% is your down payment on the home from the bank’s perspective as well, so once your credit restoration/rebuilding is complete and you are able to refinance at a bank, your down payment is already paid.

As you can see above, no matter where you are starting, we’ve got the program to guide you to success on your Path to Homeownership. What are you waiting for? Let’s work together to turn your homeownership dream into reality.

Contact us today to get started at 704-900-0404.

Until next time…

The Counselors at Affordable Home Provider

Disclaimer: We are not a lender. We are not CFPs. We are Certified Affordable Housing Providers, committed to empowering families and individuals through our Path to Homeownership program to enjoy the American dream of homeownership. We are not a credit repair company. We are affiliated with local and national credit repair companies and lenders, who work with us to make the Path to Homeownership program a success so our residents are able to purchase their own homes.

How to Save $56,856.11 on Your Home

What would do you with $56,856.11 savings? Buy a car? A bigger house? Start your own business? Invest? Send your kids to college? Have a better retirement?

Now think about how you could save that kind of money. By neatly tucking away $100 every month for forty-seven years and five months? Yes. By doing twice that for twenty-three years and eight months? Yes. Does that sound hard and time consuming? Yes.

So… how about by not paying a dime? Wait, what? Yes. That’s exactly what we said. What if you could save $56,856.11 by not actually paying anything? That sounds like a plan to us, what about you?

So now that we’ve agreed we’d all like an extra $56,856.11, “How do I get it?” you want to know? Easy. By having good credit. Your credit is the report card of your payment history. By having a credit report good enough for 4.5% interest vs. 5.5% interest on a $100,000 30 year FHA loan for your home, you can save approximately $56,856.11 on interest alone. All by simply paying your bills on time and establishing credit! Does that sound like a plan to you? It does to us too! So how do you get started?

1.) Pay bills on time. ALL bills.

2.) Give us a call at 704-900-0404 or email us at affordablehomeproviderllcsales@gmail.com to schedule an appointment to complete your application and get started on your Path to Homeownership program today!

3.) Once in a home, we’ll guide you where to go to establish credit. This does not mean to go buy a new car. This means getting a secured credit card, keeping the balance below 30%, and paying it on time every month.

Once these steps are taken, it typically takes six months-one year for your credit to be in a position for you to qualify for a bank loan on your home, with a good interest rate.

So now that you know how, let’s make it happen! 704-900-0404 or www.affordablehomeforu.com for more details.

Until next time…

The Affordable Home Provider Counselors

Disclaimer: We are not a lender. We are not CFPs. We are Certified Affordable Housing Providers, committed to empowering families and individuals through our Path to Homeownership program to enjoy the American dream of homeownership. All numbers above are based on a standard 30 year FHA loan, as quoted to us by others. We are not a credit repair company. We are affiliated with local and national credit repair companies and lenders, who work with us to make the Path to Homeownership program a success so our residents are able to purchase their own homes.

Another Success Story:

Donna and Darrell Closing Photo #1

Donna P. & Darrell S. of Mint Hill, NC were looking around for a new home, thinking their only option was a rental. Little did they know, they’d lucked out when they called the number on the yellow sign. They had unwittingly stumbled on a Path to Homeownership home! After discussing other options, they decided it was the perfect fit. The selling point was realizing that when they bought the home their monthly mortgage payment would be over $200 less than the rental rate.

It was only three months after they initially applied for the home as a rental, that they were able to close on their new mortgage and get their lower payment, tax benefits, and the pride of homeownership.

Donna says “I never even considered this might be an option when I saw the sign for rent. I was beginning to think it (home ownership) would never happen. I’m so glad to own my own home, and have a lower mortgage payment too.”

We’re all glad for them too! Home ownership is a thing to be proud of.

Until next time…

The Counselors at Affordable Home Provider

Not on the Path to Homeownership program? Call us at 704-900-0404 or visit us at www.affordablehomeforu.com to get started today!

Disclaimer: We are not a lender. We are not CFPs. We are Certified Affordable Housing Providers, committed to empowering families and individuals through our Path to Homeownership program to enjoy the American dream of homeownership. We are not a credit repair company. We are affiliated with local and national credit repair companies and lenders, who work with us to make the Path to Homeownership program a success so our residents are able to purchase their own homes.

Newly Available Path to Homeownership Homes

Thinking now is the time to buy your own home?  We agree!  Read on for a list of some of the newly available and coming available homes in the Path to Homeownership program. Then call us at 704-900-0404 to get pre-approved and get a showing set up.

For the full list of other available homes, visit our website, www.AffordableHomeforU.com.

 

723 Broad St Kannapolis, NC, 28081 

Monthly $895

Down $5,000 – Negotiable

Total Price $74,900

This cute home is a 4 bedroom, 2 1/2 bath, completely rebuilt from the floors up 5 years ago.  Nice wooded view.  Close to NC Research Campus.

100_1484

 

7705 Happy Hollow Dr. Mint Hill, NC, 28227 

Monthly $1,750

Down $10,500 – Negotiable

Total Price $296,000

Beautiful spacious 5 bedroom 3 bath home with 2-car attached garage in downtown Mint Hill, convenient to shopping and restaurants. This home is in move-in ready, and a great price! $10,000 upgrade allowance* included with both the rent-to-own and purchase options. New windows and new roof. Full brick. Mature landscaping. Walk in closets. Stone fireplace. Concrete driveway.

*Additional qualification for this bonus may be required.

Front Photo

 

2603 Forysthe Lane Concord , NC, 28025 

Monthly $849

Down $5,000 – Negotiable

Total Price $79,900

REDUCED PRICE PER MONTH!

Totally remodeled in last 4 years. 3 bedrooms with walk-in closets, 2 full baths with new vanities, new light and plumbing fixtures.  Lots of hardwood floors. New HVAC, Nicely landscaped w/new patio , new brick front and back stairs outside storage building,

912786

 

14710 Eagle Brook Dr. Charlotte, NC, 28227

Monthly $950

Down $3,500 – Negotiable

Total Price $94,500

This great 3/2 home sits on a full acre of land in the popular 28227 area. Nice back porch and storage shed out back. Fenced in back yard. Fireplace in the lving room, perfect for the winter nights! In a quiet area, but still close to shopping and good restaurants, the new hospital, I-485, Hwy 24/27 and Hwy 51.

Front View

 

 

7329 Twilingate Dr. Charlotte, NC, 28215

Monthly $795

Down $4,500 – Negotiable

Total Price $86,500

This cute home has three bedrooms, two baths, a nice front porch and a 1/4 acre lot.  It has a roomy floor plan, and a garden tub in the master bath!  Nice front porch, and an attached two-car carport.  Close to shopping and good restaurants in Mint Hill, the new CMC hospital, I-485, Hwy 24/27 and Hwy 51.

2010-08-11 16.57.47

Call us at 704-900-0404 to get pre-approved and get a showing set up for the home or homes you are interested in.  We look forward to hearing from you!