How is Mortgage Rental different than traditional Home Rental?
Mortgage Rental is like home ownership. The Home Buyer gets the home appreciation equity, is able to make home improvements, and does maintenance / repairs. The Home Seller only minimally needs to be a “landlord.”
How long should Mortgage Rental last?
Mortgage Rental is intended to be a short-term 1-3 year financial bridge to ride out the current high mortgage rates. At the end, refinance with a traditional Bank.
What are the main benefits to Home Buyers?
Home Buyers save hundreds per month and also get the home’s property value appreciation.
What re the main benefits to Home Sellers?
Home Sellers earn hundreds per month and also only minimally need to be landlords.
Does the Seller’s mortgage need to be an Assumable Mortgage?
Rent My Mortgage’s innovative approach works without the need for an “Assumable Mortgage” on the Seller’s side, and in fact creates better financials. The Buyer is able to finance amounts like with a Bank.
Who “owns” the home during the Mortgage Rental?
The Home Title continues to be held by the Home Owner during the Mortgage Rental period. At the end, the title is transferred to the Home Buyer as with a regular home purchase.