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Recently completed professional renovation of this 3 Story Home. Nearly 3500 SQFT Of Living Space. Add'l Features Include High ceilings, Smart Lighting, smart door Bell, smart front door Lock, Ceiling Fans, Stainless Steel appliances, Touch Screen Refrigerator, Mud Room W/ Quartz, 2 Electric Wall Mounted Fireplaces, Smart Under Cabinet Floor Lighting, Custom Leaded Glass, Custom Primary Bedroom Closets, Heat & A/C On 3rd Level Rec Room, & More! Perfect set up for entertaining, growing family enjoyment, transient and nearby working professionals, students and more. Home leaves nothing to be desired. Detached 2 car garage with smart WiFi garage door opener. Minutes from Xavier, dining, and downtown! Available for traditional lease as well as seller financing; learn more details in the details section. Available for sale by owner and also Available for rent through 2 methods: 1) Traditional lease method with 6 months or longer lease. Gross monthly income must be 3x monthly rent. For example if rent is $2,000 per month, gross monthly income must be $6,000 per month or more. Targeted credit score is 620 or higher. Deposit amount includes a $350 non-refundable general cleaning fee. 2) Home buying assistance program. Everyone's circumstances are different, but see below and assess if either of the options below work for your particular situation. How Home Buying Assistance Program Works AJ Stowall Homes helps qualified buyers purchase homes through two different methods. In addition, AJ Stowall Homes connects those in need of financial stability with a program that helps them achieve that goal. This can be in the form of credit building and repair, business or personal accounting and/or budget assistance. Take a few minutes to learn how our Lease2Own, Contract2Own agreements work, and contact us with questions. Our Process Step 1 AJ Stowall Homes qualifies individuals or families based on their income and money down (if applicable) through a one-on-one consultation. Step 2 Once qualified, buyers are presented with a purchasing options and matched with the one that most closely meets their needs and timing requirements. Those options are as follows: a. Choose from our inventory of existing, completely remodeled AJ Stowall Homes properties. Time frame: Immediate possession. Step 3 The home is then sold to you, the buyer, via one of the methods listed below. The Basics All AJ Stowall Homes agreements include a few basic components: Income: Your gross income must be at least three times the monthly payment (e.g. if payment is $2000/month, gross monthly income must be at least $6,000. Money Down: An applicant's buying power is generally connected to the amount of money down. We pride ourselves in serving both those buyers with limited financial resources as well as those with up to 20% down on any priced home. Repairs: The buyer, in most cases, is responsible for the repairs and upkeep on the inside and outside of the home, though this may depend on the type of purchase contract. Contract Length: The buyer agrees to a minimum two-year lease or contract (some exceptions may apply). Home Warranty: AJ Stowall Homes includes a 1 year home warranty from a 3rd party home warranty company of the buyers choice with every home purchase. Payment from AJ Stowall Homes towards warranty is $550, and is a one time benefit. Lease2Own [Buying Method 1] Also known as Lease Purchase, Lease Option or Rent to Own, this purchasing method allows buyers to purchase a home through the vehicle of a lease with an option-to-purchase contract. Monthly Payment: Fixed Payment for the term of the lease; includes taxes and an insurance estimate Money Down (Option Payment): Generally 5% of purchase price (non-refundable upon failure to exercise option-to-purchase) Deposit: Not required Rent Credit: Buyer receives a $75-$150 rent credit each month rent is paid. The total credit accumulated over the term of the lease (as well as the Money Down) can be used as the buyer's down payment at closing when they exercise the option-to-purchase and receive traditional financing in 2-3 years. Utilities: Paid for by lessee(s) Due upon Move-in: First month's rent, Option Payment and renter's insurance Renters Insurance: Required Repairs/Upkeep: Buyer must maintain the home with needed repairs, but home improvements, alterations and upgrades must first be approved by AJ Stowall Homes. Late Payments: Late fees will be assessed for late payments. Repeatedly paying rent late may result in breach of contract-to-purchase. Contract2Own [Buying Method 2] Also known as Buying on Contract, Owner Financing or Contract for Deed, this purchasing method is very similar to the offerings of a traditional lending system. Qualifying for this program generally requires more money down but may provide additional tax benefits to the buyer. Monthly Payments are based on: o Purchase price o Money down o Interest rate o Monthly taxes Money Down: $10,000 minimum; generally 10-20% of purchase price Interest Rate: Varies Payoff Schedule: Based on 25-year mortgage term or amortization Repairs/Upkeep: Buyer is responsible for all repairs. Any renovations or remodels must be approved by the owner before construction begins.
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