Affordable Monthly Payments Program
If increased interest rates have put your search for a new home on hold, this program may be the solution you have been waiting for!
Our innovative home-buying program helps bypass the barrier of increased interest rates that have kept many buyers from entering the market. Here's why homebuyers are choosing The Experience Real Estate:
- LOW monthly payment: Monthly payments based on a 3.99% interest ONLY rate, plus real estate taxes and homeowner’s insurance.
- Purchase Flexibility: Secure your future home with the option to complete your purchase on an agreed upon time frame with the seller that could be as long as 36 months.
How Our Home Purchase Program Works
- Combined Resources: We merge our cash resources with your initial option payment to assist in purchasing your new home.
- Rent-to-Own Structure: You can rent your future home from us, making manageable monthly payments. These payments are calculated based on an interest-only loan, inclusive of real estate taxes and homeowner's insurance.
Take Action Toward Your Dream Home
Affordable monthly payments are just the beginning. Embrace the opportunity to make your homeownership dream a reality with our tailored program.
Call any of our agents at 605-940-5544 to get started today!
FAQs
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Q: Does EVERY house qualify for this program or just homes listed on this page of your website? |
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A: Many homes can qualify for this program, but some may not. The best way to find out is to have a buyer’s agent with The Experience Real Estate explore that option with the seller of the home you are interested in purchasing! |
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Q: Do I still need a pre-approval letter from my lender to qualify for this program? |
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A: Yes. You will need a pre-approval letter from a lender to ensure you’d qualify for a mortgage when you decide to exercise your purchase option. |
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Q: How much money will I need to put down? |
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A: This will vary depending on the home, but could be as low as 5% of the purchase price. The option payment will be credited to you when you purchase the home. |
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Q: Will my monthly payments go toward the purchase of the home? |
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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. |
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Q: Do I have to purchase the home in a certain amount of time? |
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A: Yes. You should take advantage of the option to purchase as soon as it makes financial sense for you. The latest possible date to purchase could be as long as 36 months and will be clearly documented at the time you enter the agreement. |
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Q: What if interest rates are still so high that I don’t want to purchase the home by the end of the option period? |
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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. |