605-940-5544

Alternative Financing with The Experience

We understand high interest rates have affected many of our clients’ home ownership goals and/or time lines. But the truth is, it is a still a good time to buy a house—inventory is up, and competition is down!

Want to buy a house now, but worried about unaffordable payments and high interest rates? The Experience Real Estate is now offering another financing option to help our clients to purchase a home. 

The Experience Real Estate will match your monthly payment to the equivalent of an FHA 4.95% interest rate.

Why this option could be right for you

  • Move into the home you want now without having to wait for interest rates to drop
  • Move in sooner with competitive cash offers and closing time frames
  • Have consistent, low monthly payments for up to 5 years
  • Option to purchase any time after the start of your lease

How does the program work

By working with The Experience, we use our cash to purchase your next home, on a time frame that works best for you. Then, you rent that home from us for a monthly payment based on an FHA 4.95% interest rate. You can choose to lease the home for up to 5 years, with the option to purchase at the end of that time. Or, if it makes sense for you sooner, you can choose to purchase the home anytime after the start your lease.

Interested? Call us today! (605) 940-5544.

The Experience is dedicated to making homes happen for our clients. Our agents are happy to sit down and discuss this as a potential solution to securing the home of your choice, on your time line.

FAQs

Q: Why do I need to sign a lease agreement and put money down before an offer is made?

A: Think of this as a deposit on your future home. Signing a lease agreement and putting money down ensures The Experience has a future homeowner for this property, prior to purchasing on your behalf.

Q: Do I still need a pre-approval letter from my lender to qualify for the alternative financing program?

A: Yes. We ask you to obtain a pre-approval letter from your lender to ensure you’d qualify for a mortgage when you decided to purchase.

Q: How much money will I need to put down?

A: A 2% option payment is required but will be credited back you when you purchase the home.

Q: Will my monthly payments go toward the purchase of the home?

A: No. One of the ways the monthly payment is kept as low as possible is by basing the monthly payment on an interest only loan.

Q: Do I have to purchase the home in a certain amount of time?

A: Yes. You should take advantage of the option to purchase as soon as it makes financial sense for you, within a 5-year time frame.

Q: What if I can’t purchase the home at the end of the 5 year period?

A: Let’s talk. Our goal is to keep you in a home you love. If you are not able to purchase the home and renting still makes sense for all parties, an extension can be offered.

Login to My Homefinder

Login to My Homefinder