Oklahoma Property network offers a variety of Programs to our tenants that improve their quality of life.
At Oklahoma Property Network, we want our tenants to feel like our houses are their homes. We like tenants who take care of minor problems in their homes and who notify us immediately of potentially damaging problems, such as termites, leaking roofs, non-functional switches and light fixtures and so forth.
|Interest Rates||Interest rates are low now, but are on the rise. Many financial institutions are offering low introductory adjustable rate mortgages. These are fine for a year or so, but since the rates are tied to the Federal bank lending rate, as the economy improves, the mortgage interest rate will go up. There is usually a cap on the interest rate, but it is as high as 10% or more. In an adjustable rate mortgage, your monthly payment may start out low, but over a few years, may double or even triple as the rate increases.|
|Foreclosures||As interest rates increase, lending institutions are going to do whatever they can to get rid of their non-adjustable low rate mortgages. They may offer to let homeowners refinance at lower rate adjustable mortgages, which the bank knows will almost immediately begin going up by a point or more every year. Or they may look at any excuse to foreclose on a customer. Even if the customer has only missed one payment or has just made a few payments late.|
|Temporary Housing||In some cases, especially military, people may be transferred temporarily to different locations for a year or so. The costs of purchasing and selling a house make it not worthwhile to purchase a house unless a person intends to remain in the house at least three to five years. Additionally, the uncertainty of time frame in selling a house may make it unpractical to purchase a house every time a person is transferred. Renting a house is perfect for this situation, as a a person can enjoy all of the comforts of living in a house, without all of the overhead hassle.|
|Short Term Housing||When people move into a new area, it is difficult for them to determine the best neighborhoods to live in. Often it is better to rent a house for a year or two until they become familiar with the neighborhoods in the area. Then, they can purchase a home of their own. Oklahoma Property Network can even help them to purchase the home that they are renting with our rent-to-own program. Click Programs for more details.|
|Poor/Inadequate Credit History||If you have poor credit, or even good credit but have only had credit a short time, it may be difficult to obtain a home loan, or the interest rates offered may make payments high. However, Oklahoma Property network will often accept tenants whose credit scores or short history would not be considered acceptable to a lending institution.|
|Build Credit||While living in a Rental Home, paying utility bills on time, as well as paying rent on time, are noted on your credit history.|
|Students||The same reasons apply to students as to short term housing. Students will likely only be in the area for four years, making it impractical to purchase and sell a house. Further students generallydo not have sufficient credit history to qualify for a mortgage.|