1107 Fulton St, Elkhart IN 46514

1107 Fulton St, Elkhart IN 46514 Lease/Option (Rent to Own), Low Down, 3 bedroom, 2 story Elkhart home priced under market value. Easy Qualifying and Down Payment Assistance program available

House - Elkhart IN

Sale Price: $159,000.00 Terms: Lease/Option (Rent to Own) – $5000 to $10,000 down and only $1295.00 per month (includes taxes & insurance; Zillow market rent is $1698 per month).  Some minor repairs/maintenance are needed on this property but the majority of the home is already remodeled. It is being offered at a discount, but it is otherwise in move-in condition (work on it while you live there and build sweat equity; other similar homes in mint condition nearby sell for $175,000 to $190,000). Down payment assistance programs are available if you do not have the full $10,000 down payment at this time. You may put a minimum of $5000 down and pay the balance of the down payment off at $150 per month and/or pay it off with your tax refund either now or next year. You will also build nice equity in this home with our great rent credit program toward the purchase of this home. In the first year, $350.00 of your on-time monthly payment is credited toward purchasing this home on our rent-to-own program.  After one year, the monthly rent credit is $150 per month.  This is a great way to save for a down payment toward purchasing/refinancing this home to be used at a later date when applying for a mortgage loan to carry out the final purchase/refinance of the home and exit the rent-to-own program.  You may take as long as you need to get in a position to qualify for a standard mortgage or FHA mortgage.  There are no deadlines or balloon payments due after 1, 2, or 3 years like most rent-to-own programs available in this area.

Home Information: Nice 2-story home located in a quiet neighborhood on Elkhart’s Northeast side with a nice fenced-in yard. The home has 3 bedrooms, 1.5 bathrooms, a full basement, a one-car garage, a nice large bathroom with a shower, nice hardwood flooring throughout the majority of the home, a nice large living room,  a nice dining room, a nice kitchen with a stove and refrigerator, vinyl siding, a brick front with a nice front porch, electric hot water heater, a gas furnace, central air, and vinyl replacement windows.  The home has many updates – New paint, New floors, New kitchen, updated bathrooms, and it is located in a great area that is conveniently located near schools, parks, and shopping.

To Purchase This Home: If inquiring about Lease/Option, the following programs are available:  Lease to Own with $10,000 down and monthly payments of $1295 per month, including taxes and insurance.  Some down payment assistance programs are available for lease-to-own/rent-to-own buyers with decent qualifications but who may be short the standard down payment of $10,000.  You may qualify to put down less ($5000, $5500, $6000, etc.) up front and make small payments on the balance of the down payment each month until the $10.000 down required is met, and/or you may use your tax refund that may be available this year or next year.  Feel free to contact us for more information.

Also, Land Contract financing is available with $25,000 down and monthly payments of approximately $1095.00 per month, including taxes and insurance.  This is available for qualified buyers only.