Question: How does your program work?

Answer: If you meet the minimum requirements listed under each of our homes, you are on your way to qualifying to own your own home! The qualifications listed are those required by the banks we work with to get you a loan. You will actually own the home. This is not a land contract or rent to own program. We will work as your liason with the loan officer and be with you every step of the way.

Our typical buyer gets a 30 year, fixed rate FHA loan. For more about FHA, click here. Rates are currently between 5% and 6%.

Question: How much do I have to put down?

Answer: There are two routes you can take. The easiest way to got is to stick with FHA's required 3.5% down payment. For our homes, that means you will need between $1,000 and $3,500 depending on the price of the house you want.

If you do not have that much to put down, you may qualify for down payment assistance through the Ohio Housing Finance Authority (OHFA). That program allows you to get into a home for as little as 1% down. But, if you go that route your monthly payment will be slightly higher (about $50 or so more). For more information about OHFA, click here.

Question: What is the process?

Answer: The first step is to know your credit score. If you do not know it, you can get it here. We can also pull it for a $20 fee per applicant, but ours is NOT as accurate as you pulling it yourself.

If your score is above a 600, please call us to schedule a showing for the home or homes you would like to see. Once you pick one, one of the loan officers we work with will contact you and start the loan application process over the phone. It's that easy!

Question: What if I don't have a credit score?

Answer: If you have no credit score and absolutely, positively, no collections, you can use credit references to prove to the bank that you pay your bills on time. You will typically need at least four credit references, with one being your current landlord. The other three references can be any bill that you pay to a company on a monthly basis. Examples include Toledo Edison, Columbia Gas, cell phone, day care, car insurance, Rent-a-Center, union dues, gym membership, etc. The bills need to be in your name, and need to have been paid on time for the last twelve months.

Question: Do you do Rent to Own or Land Contracts? 

Answer: No. We believe that if you are not ready to buy a house, then you should continue to rent, save your money, and repair your credit. With a little coaching and a little sacrifice, you can usually be ready to buy within 12 months if you continue to rent and live within your means. But, if you give all of your savings to a Rent to Own company and are paying an above-market rent (to get your "rent credit"), then how in the world are you ever going to fix your credit so you can get a loan to buy the house? Chances are, you're not.