Browse Rent To Own Homes in Roy, UT
Are you looking for a rent to own house in Roy? 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 Roy area.
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Featured Rent To Buy Houses in Roy, Utah
Browse the following featured properties in the Roy, Utah area, or click the link on this page to get access to the complete listings for Roy 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.
Roy 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 Roy, Utah
Roy is a city in Utah located in Weber County. It is part of the Ogden−Clearfield, Utah Metropolitan Statistical Area wit a 7.6 square miles all land.
The estimated population in Roy is 37,877, being one of the cities with less population in Utah.The racial makeup of the city was 90.75% White, 1.16% African American, 0.59% Native American, 1.79% Asian, 0.11% Pacific Islander, 3.64% from other races, and 1.96% from two or more races. Hispanic or Latino of any race were 7.68% of the population.
Estimated median household income is about $ 58,909. Roy has many types of businesses and services. The city was designated as “Weber County’s Fastest Growing City.
Also, Roy is the most economic city in Utah, especially in real estate, in 2012, the median price for homes on the market was about $156,905.
Despite being a relatively small city, Roy has many educational options. The elementary schools in Roy are Lakeview Elementary School, Midland Elementary School, Municipal Elementary School, North Park Elementary School, Roy Elementary School, Valley View Elementary School. The High schools are Roy Junior High School and Sand Ridge Junior High School
Some of the most popular neigborhoods in Roy are Cedar Crest, Midland Farms, S Street and West Roy Midland.
Roy has attractive places for both residents and visitors, some of them are Roy Historical Museum, Roy Marketplace Plaza, Roy Heritage Museum, Roy Park, Civic Center Park , Eagle Lake, Glen Eagle. Roy Shopping Center Which is the most important place to shop.
Roy has the advantage of having the quality of life of a sparsely populated city, but with the advantages of being close to big cities.
Zip codes: 84067, 84401
Other Cities in Utah:
- Salt Lake City http://homeownersguides.org/rent-to-own/utah/salt-lake-city/
- West Valley City http://homeownersguides.org/rent-to-own/utah/west-valley-city/