Browse Rent To Own Homes in Layton, UT
Are you looking for a rent to own house in Layton? If so, then browse the featured listings on this page, or signup to access our complete guide and listings for all lease to own properties in the Layton area.
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Featured Rent To Buy Houses in Layton, Utah
Browse the following featured properties in the Layton, Utah area, or click the link on this page to get access to the complete listings for Layton rent to own houses.
How Rent To Own Real Estate Works
Also known as a lease option, rent to buy homes are a type of owner financing tor real estate properties.
While the terms of the agreements can vary from house to house, the typical scenario is one in which the owner is looking to sell the property but is willing to accept payment over a period of time, rather than an up front settlement.
In this case, the buyer and seller both agree on the selling price of the home, and the terms of the purchase agreement, specifying things such as payment terms, interest, and length of the agreement.
Usually, owner-financed properties are paid off much sooner than a traditional bank mortgage, but by allowing the renter time to accrue equity in the house, the renter can often roll over that equity into a traditional mortgage after 1-3 years, if the need arises.
Every month the renter/buyer makes a payment to the seller. Typically, part of this payment is credited as rent, while a second part is credited towards the interest on the loan and/or equity in the home. Over time, the renter can then buy out the seller, even if the renter didn’t originally have a large downpayment or the credit needed to qualify for a traditional mortgage.
Layton Lease Purchase Homes and Houses
While there are many advantages to lease option, or lease to purchase homes, one of the main difficulties can be in locating the currently available properties.
Many rent to own listings are never uploaded to national or local databases, since it is common for sellers to work independently and not go through a real estate agent for these transactions. It is also common for sellers of owner financed, rent to buy properties to sell their homes casually, meaning that they are interested in selling, but are in no hurry to do so, meaning the listings are not widely publicized.
To find the full list of rent to buy properties in your area, you need to sign up for a dedicated listing service, which works to identify all of the relevant opportunities within your target geographical area.
Without a reputable listing agency, finding these properties can be extremely difficult!
Sign up below to get access to one of the most comprehensive rent to own listing services in the country.
Listings for Rent To Buy Properties in Layton, Utah
Layton is located in Utah, specifically in Davis County in the northern portion of the Wasatch Front. It possess a total area of 22.2 square miles. It has quick access to Salt Lake City and Ogden. It is bordered by Clearfield to the northwest, Hill Air Force Base to the north, South Weber to the northeast, the Wasatch Mountains to the east, Kaysville to the south, Great Salt Lake wetlands to the southwest and Syracuse to the west.
Layton has a population of 72,231 persons being the most populous city in Davis County. The population is 100% urban.
Likewise, the city is a leader in economic development for the region. It possess an estimated median household income of $65,700 (2013).
Layton´s neighborhoods are referred as East Layton and West Layton, some of the most representative neighborhoods in the area are East Layton, City Center, Oak Hills Dr, Laytona, Kaysville, Sunset, Syracuse and Uintah among others.
Some of the Colleges and universities and high schools in Layton are Eagle Gate College-Layton, Broadview University-Layton, Northridge High, Layton High, North Layton High, Legacy Jr High, Central Davis Jr High, Layton Christian Academy, and Academy at Solstice and Dorius Academy.
Some of the elementary schools are Sand Springs School, Heritage School, Eliison Park School, Lincoln School, Mountain View School, Vae View School, Layton School and King School, Whitesides School and Adam´s School.
There are several places of interest in the area such as the Hillgate Shopping Center, Layton Hills Mall Convenience Center, and Fort Lane Shopping Center; Cinemark Movie Theater and Davis Conference Center; Davis County Library Central Branch¸ Layton Surf ‘N Swim and, Edward A Kenley Centennial Amphitheater.
The museums in the area include Daughters of Utah Pioneer Memorial Museum, Heritage Museum of Layton-
Layton own more than 15 parks which give life painted green to the city, such as Andy Adams Park, Bamberger Trail, Camelot Park, Chapel Park, Chelsie Meadows Park, Ellison Park – Splash Pad & Skate Park, Kays Creek Parkway Multiple Trail Heads, to name a few.