335 Preston Dr, South Bend IN 46615

335 Preston Dr South Bend, IN 46615 - Lease/Purchase (Rent to Own), Low Down, 3 BR with garage, Great area, Easy Qualifying, and Down Payment Assistance available

House - South Bend IN

Sale Price: $162,900.00. Terms: Lease/Purchase (Rent to Own) – $5,500 to $9,000 down and only $1250.00 per month (includes taxes & insurance).  Build strong equity with our program, plus have built-in equity from the start, and you can easily increase the home’s value with some cosmetic updating. Many homes are selling for, or have sold for, between $180,000 and $200,000 near this home. Easy qualifying; no banks until you are ready for that step; plus, down payment assistance programs are available if you do not have the full $9,000 down payment at this time. You may put a minimum of $5,500 down and pay the balance of the down payment at $100 per month, and/or pay it off with your tax refund 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 $150.00 per month.  This is a great way to save for a down payment/build equity toward purchasing this home to be used at a later date when applying for a mortgage loan to complete the purchase of the home and exit the rent-to-own program or refinance out of the owner financing. You may take as long as you need to get in a position to qualify for a standard mortgage or an FHA mortgage.  There are no use-it-or-lose-it deadlines or balloon payments due after 1, 2, or 3 years, like most rent-to-own programs available in this area.

Home Information: Nice ranch-style home located in a quiet neighborhood on South Bend’s Eastside McKinley Terrace area. This is a 3 BR home with 1 full bathroom (A large hallway closet was previously a half bath and offers the opportunity to restore that bathroom), a detached 1-car garage, a nice, large living room with a stunning floor-to-ceiling picture window that fills the space with beautiful natural light, a nice eat-in kitchen with stove and refrigerator, vinyl siding on the exterior, double pane vinyl replacement windows throughout the home, Lennox gas heat and Lennox central air conditioning, a gas hot water heater, a good-sized privacy-fenced backyard, and a storage shed on the rear of the home. With solid bones, great potential, and just a few personal updates needed to truly make it shine, this home is an incredible opportunity at this great price and is conveniently located near schools, parks, and shopping.

To Purchase This Home: If inquiring about Lease/Purchase (Rent to Own), the following programs are available:  Lease to Own with $9,000 down and monthly payments of $1250 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 $9,000.  You may qualify to put down less ($5500, $6500, $7500, etc.) up front and make small payments on the balance of the down payment each month until the $10,000 down payment required is met, and/or you may use your tax refund that may be available next year.  Feel free to contact us for more information.

Also, Owner Financing (Land Contract financing) is available with $25,000 down and monthly payments of approximately $1090.00 per month, including taxes and insurance.  This is available for qualified buyers with the full down payment. You skip the bank qualifying process with our owner financing programs, where we provide the financing and make the process simple and easy.