Atlas: RTO Facts

RTO Facts

requently Asked Questions and Answers...

What Is Rent To Own? What Does It Mean?

Rent To Own is also known as a Lease Option or Lease with Option to Purchase. The latter terms are probably more descriptive of what an actual Rent To Own home is. A home that is available for purchase on a Rent to Own generally refers to a situation in which you as the tenant/buyer leases the home for a specified period ("option period") and have the exclusive option to purchase the home anytime during that option period, which is typically 12 to 24 months.

What owner financing programs are available for the homes you sell?

We sell many homes with owner financing or by developing Rent-to-Own programs to fit your situation. We also work closely with licensed mortgage brokers who work with many lenders to find the right loan for you.

How do I qualify to buy a home if I have bad credit?

Your past credit history is not as important to us as what you are doing to improve it. Your ability to make reasonable monthly payments and your desire to be a homeowner now is what is really important to us.

Would bad credit disqualify me from getting a loan?

For the most part, conventional banks and lenders would not approve you to buy a house, but you can with Atlas's financing programs. We can setup owner financing or create a Rent-to-Own program to help improve your credit over time. We also work with mortgage brokers who may be able to arrange a loan for you.

How much down payment do I need?

The required down payment can be very flexible. We can offer you many options and we always do our best to work with whatever funds you have available. You can even start out on our Rent-to-Own program for as low as 3% and then move to our owner financing program at a later date when you have the additional money.

Can my down payment be from sources other than seasoned funds from my bank account?

Unlike most banks and lenders, we accept borrowed funds for closing. If you have a close friend or relative willing to lend you money for your down payment, you can use that with our programs. You may also be eligible to withdraw or borrow from your 401K to purchase a home without penalties. We also accept trades.

Do you have down payment assistance programs?

Yes, we do. Depending on your situation, if you are a bit short on your down payment, we can set up a monthly payment plan spread out over 6 to 12 months.

How does your Rent-to-Own Program Work?

We can lease you the home with the exclusive right to purchase it at a later date. Our buyers love it because it gives them the time they need to save up for a larger down payment, time to clean up past credit problems, time to sell another home, and also time to try out the neighborhood before buying. 100% of your option fee/down payment is credited toward the purchase price of the home, plus you may be eligible to receive a monthly credit towards the purchase price every time you pay your lease on time.

What are the typical interest rates on your home purchase programs?

We are flexible with our terms to meet your needs. Typical interest rates range from 7.5% to 10.5% depending on your down payment and application. All credit is accepted and applications are necessary to verify income and employment.

What is my next step if I find the home I love?

Please fill out and submit an application ASAP. You can even fax it to us for fast processing! We will then contact you within 24 to 48 hours once we are able to verify your income and employment. Please keep in mind that our homes go quickly, so time is of the essence.

If the home I wanted has been sold, can you find me another one?

That's our specialty! Our homes go fast, so the best thing you can do is join our online VIP Buyers List.Tell us what you are looking for, how soon you are looking to move and we will do our best to find you your next home. As soon as a home becomes available, we will call or email you about the home. Click here to join our VIP Buyers List now!

Can you help investors?

Yes! We can help you whether you are just beginning or if you are an experienced investor. We can supply you with properties needing repairs at wholesale prices or those already repaired and with or without tenants occupying them. We can also help you set up a successful Rent-To-Own program so you can enjoy being an investors for maximum cash flow without the management headaches.

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What Is Rent To Own? What Does It Mean?
	Rent To Own is also known as a Lease Option or Lease with Option to Purchase. The latter terms are probably more descriptive of what an actual Rent To Own home is. A home that is available for purchase on a Rent to Own generally refers to a situation in which you as the tenant/buyer leases the home for a specified period ("option period") and have the exclusive option to purchase the home anytime during that option period, which is typically 12 to 24 months.
What owner financing programs are available for the homes you sell?
	We sell many homes with owner financing or by developing Rent-to-Own programs to fit your situation. We also work closely with licensed mortgage brokers who work with many lenders to find the right loan for you.
How do I qualify to buy a home if I have bad credit?
	Your past credit history is not as important to us as what you are doing to improve it. Your ability to make reasonable monthly payments and your desire to be a homeowner now is what is really important to us.
Would bad credit disqualify me from getting a loan?
	For the most part, conventional banks and lenders would not approve you to buy a house, but you can with Atlas's financing programs. We can setup owner financing or create a Rent-to-Own program to help improve your credit over time. We also work with mortgage brokers who may be able to arrange a loan for you.
How much down payment do I need?
	The required down payment can be very flexible. We can offer you many options and we always do our best to work with whatever funds you have available. You can even start out on our Rent-to-Own program for as low as 3% and then move to our owner financing program at a later date when you have the additional money.
Can my down payment be from sources other than seasoned funds from my bank account?
	Unlike most banks and lenders, we accept borrowed funds for closing. If you have a close friend or relative willing to lend you money for your down payment, you can use that with our programs. You may also be eligible to withdraw or borrow from your 401K to purchase a home without penalties. We also accept trades.
Do you have down payment assistance programs?
	Yes, we do. Depending on your situation, if you are a bit short on your down payment, we can set up a monthly payment plan spread out over 6 to 12 months.
How does your Rent-to-Own Program Work?
	We can lease you the home with the exclusive right to purchase it at a later date. Our buyers love it because it gives them the time they need to save up for a larger down payment, time to clean up past credit problems, time to sell another home, and also time to try out the neighborhood before buying. 100% of your option fee/down payment is credited toward the purchase price of the home, plus you may be eligible to receive a monthly credit towards the purchase price every time you pay your lease on time.
What are the typical interest rates on your home purchase programs?
	We are flexible with our terms to meet your needs. Typical interest rates range from 7.5% to 10.5% depending on your down payment and application. All credit is accepted and applications are necessary to verify income and employment.
What is my next step if I find the home I love?
	Please fill out and submit an application ASAP. You can even fax it to us for fast processing! We will then contact you within 24 to 48 hours once we are able to verify your income and employment. Please keep in mind that our homes go quickly, so time is of the essence.
If the home I wanted has been sold, can you find me another one?
	That's our specialty! Our homes go fast, so the best thing you can do is join our online VIP Buyers List.Tell us what you are looking for, how soon you are looking to move and we will do our best to find you your next home. As soon as a home becomes available, we will call or email you about the home. Click here to join our VIP Buyers List now!
Can you help investors?
	Yes! We can help you whether you are just beginning or if you are an experienced investor. We can supply you with properties needing repairs at wholesale prices or those already repaired and with or without tenants occupying them. We can also help you set up a successful Rent-To-Own program so you can enjoy being an investors for maximum cash flow without the management headaches.