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How do I qualify for a home?
There is NO QUALIFYING! We don´t check your credit, we don´t check your employment!
I´m in active bankruptcy. Can I obtain a home from Titan Homes Corporation?
Yes, you can! And, it doesn´t cost you any additional money! Just let us know that you are in active bankruptcy so that we can complete your paperwork correctly.
I don´t have all of my money now but have found a home I like. Can you help me?
Definitely! We will be happy to reserve a home for you. Paying a portion of the option money ("down" money) now will take that home off the market! We won´t show it to anyone else! We will set up a payment schedule for you to complete your payment of the option money. By paying a portion of the option money now, and a portion of it through the payment schedule, you can rest assured that the home of your dreams won´t slip away!
Must I have all of the option money paid before I move in?
All of the option money ("down" money) must be paid prior to signing the final documents AND prior to moving in to your new home.
When can I move in to my new home?
From start to finish, the process can take LESS than 30 minutes! Once your money (the option money and the proration of the first month) is paid and your paperwork is complete, you will receive the keys to your new home.
When is my first payment due?
The first month (the month you sign the final paperwork and receive the keys) is a little different. We will prorate your payment the first month. In other words, you will only owe for the portion of the month after you sign the lease. If you sign the paper work for your house on the 15th, you only owe for the 15th through the end of the month, not for the whole month. Once that month ends, you will follow your normal payment schedule of paying on the 1st of the each month.
Do my payments go up each year?
Your payments do NOT increase unless taxes or insurance increase. Plain and simple!
Do I have to finance my home within a certain amount of time?
No, you are the driver´s seat! You decide IF you finance and WHEN you finance. You are not penalized for financing next week, next year, or 20 years from now. In fact, you are not required to finance it! You can keep paying your note to Titan Homes Corporation for up to 30 years. If you have not financed the home after 30 years, it is yours if you want it!
Can I vacate my house anytime I want?
Your lease automatically renews each year unless you give 30 days written notice prior to the end of that lease term. If you determine you cannot stay in your home, let us know (in writing) 30 days prior to the end of your lease term.
What happens to the monies I pay to Titan Homes Corporation?
The option money ("down" money) as well as a portion of your monthly lease payment applies directly to the purchase price of the home should you decide to finance it with another company.
Do I have to pay for my taxes and insurance in addition to my monthly payment?
No, your taxes and insurance (only on the house structure, not your contents) are paid by Titan Homes Corporation.
What does the insurance cover on my house?
The insurance on your home insures the structure of your house, not your contents. You will need to purchase insurance on your contents (i.e., your computers, televisions, etc.) through an insurance company.
What if something breaks after I move in?
Titan Homes Corporation guarantees the heating and cooling systems in your house for two weeks from the date you sign the final documents. Everything else is "as is".
Do appliances come with my new home?
We do not provide appliances with your new home, although some of our homes do have certain appliances in them. In those particular situations, we leave them for your convenience. If you don´t like them, feel free to bring your own!
Is the purchase price for my home set now or later?
The purchase price (sales price) for your home is set now, not later. If you decide to finance your new home, you will pay off your balance to Titan Homes Corporation based on the sales price at the time you signed your original agreement. Any increase in price from the time you signed the original documents through the time you finance your home is yours to keep! Money in your pocket!
Is this a mortgage?
This is NOT a mortgage. It is a lease purchase contract. For a mortgage, you must qualify and have good credit. Our lease purchase contract does not require you to qualify.
Do I ever have to leave my new home?
Only if you fail to pay your payments or violate the terms of your agreement with Titan Homes Corporation!
Why should I do business with Titan Homes Corporation rather than someone else?
Titan Homes Corporation has an excellent reputation in the Mid-South. We have been in business almost 10 years and have over 100 lease purchase properties. Our goal is to help people with slow credit, bad credit, or no credit. Moving into a home is a wonderful experience. It is a place to call your own, a place to entertain, a place for your children to play, a place of peace and serenity. Let us help you achieve your dream!
What else do I need to know?
There are no hidden fees or application fees. The costs previously mentioned (option money payment and proration of the first month´s lease payment) are the ONLY costs you will incur from Titan Homes Corporation prior to moving in to your new home.
Every lease-to-purchase company is different. What questions should I ask to compare companies?
- How many years have you been in this business?
- How many lease purchase homes do you currently have?
- Does my payment go up each year?
- Am I required to get my home financed? If so, do I have to do it within any specified time period? If so, what happens if I don´t?
- Do I lose my option money if I don´t get my home financed within a certain period of time?
- What happens to my option money?
- Is there a set sales price for my home based on today´s value or is the sales price determined later at an increased price?
- Does any of my monthly payment count towards the sales price of my new home if I decide to finance it through another company?
- What happens if I never get my new home financed?
What do I do next?
- Look at our homes on our website
- Drive to a few of the homes and peek in the windows
- Call us at 901-432-7777 to schedule an appointment to see inside the homes you choose
- Pay $500 of the option money to take the home you choose off the market (this reserves the home for YOU)
- Finish paying your option money
- Sign the lease purchase documents
- Pay the prorated lease payment amount for the first month
- MOVE IN!
FAST---SIMPLE---EASY
The questions and answers provided above are for informational use only. The terms of the Lease Purchase Agreement will control over the information above. Read your Lease Purchase Agreement carefully.
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