Browse Rent To Own Homes in Logan, UT
Are you looking for a rent to own house in Logan? 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 Logan area.
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Featured Rent To Buy Houses in Logan, Utah
Browse the following featured properties in the Logan, Utah area, or click the link on this page to get access to the complete listings for Logan 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.
Logan 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 Logan, Utah
Logan, located at the south end of the Cache Valley against the Wasatch Range and the Wellsville Mountains to the west with a total area of 18.5 square miles.
The population is 48,997 persons. The racial makeup of the city in 2010 was 83.90% White, 1.0% African American, 1.0% Native American, 3.30% Asian, 0.5% Pacific Islander, 8.0% from other races. Hispanic or Latino of any race were 13.9% of the population.
Logan has a wide diversity of economic sectors with a focus on education, specifically Utah State University, the region’s largest employer; also manufacturing and processing, medical services, agriculture, and retail businesses.
The city has six elementary schools like Hillcrest Elementary School, Adamas Elementary School and Wilson Elementary School to name a few. It has one high school named Logan High School with two campuses. There are also a number of small private schools in Logan. It is home to Utah State University founded and a center of Mormon culture and history.
Some of the most popular neighborhoods near to the main sites in the city are Adams Neighborhood, Brigder, Ellis, Hillcrest, Wilson, Woodruff and USU.
Among the places to visit are The American West Heritage Center dedicated to preserving the history of the Old West from 1820 to 1920. Museum of Anthropology, Nora Eccles Harrison Museum of Art dedicated to collecting, preserving, and exhibiting modern and contemporary visual art; The Utah State University Special Collections; The Ellen Eccles Theatre, The Willow Park Zoo, and Logan Canyon that is known as a place for rockclimbing, snowmobiling, hunting and skiing.
Also, Logan’s downtown area is located in the center of the city and is noted for its many historic buildings and landmarks.
Logan is the home of the Utah Festival Opera, The Gallery Walk events and The Summerfest Arts Faire.