Rent to Own Success Story

We are truly grateful for the following testimonial that was sent to us here at QSPS Housing Solutions.com from our client Andy on his new home and renovations. If you have a home improvement project or are looking to buy/sell a home, give us a call anytime at (401) 230-9004: 

For some, the path to home ownership is short and simple. Those fortunate individuals have generally made wise financial decisions throughout their lives, saved up large amounts of money, and successfully avoided the temptation to spend recklessly or frivolously. They coast effortlessly through the mortgage approval process, pick out the home they always dreamed of, and live happily ever after. For the rest of us, things aren't nearly as simple.

The reality of the situation for most people, myself included, is that home ownership seems like an impossible dream. The scars left by years of questionable (or downright foolish) financial decisions take an awfully long time to heal. In these challenging economic times, lenders are becoming more and more demanding when evaluating potential borrowers. A few late payments may not have mattered as recently as a few years ago. Today, these types of credit blemishes can mean the difference between owning a home or being forced to continue renting and paying someone else's mortgage.

Even with a six-figure income, I found myself being rejected every single time I applied for a mortgage. It happened over and over again until I finally almost gave up on the idea entirely. My credit was far from perfect. I had a few late payments, an old bill or two I had forgotten about until they showed up on my credit reports as collection accounts, and some credit cards with higher balances than I would have liked. The banks wanted nothing to do with me. My family and I had the income to comfortably afford a mortgage payment, but nobody would give us the chance. We were stuck in a rut, and many aspects of our lives suffered as a result of our living situation.

In February of 2016, I stumbled upon a Craigslist ad that would go on to change my life in ways I never could’ve imagined at the time. The ad was in the apartments and housing section, and claimed to offer a "rent to own" opportunity in Rhode Island. I was immediately skeptical. Those of us with less than ideal credit tend to be a prime target for scammers and con artists that prey upon our desperation. In fact, the vast majority of so called "rent to own" arrangements are indeed scams. Having spotted plenty of them over the years, I almost skipped over this one. Something made me click on that ad, and I'm very glad I did.

This listing I had discovered was offered by a Rhode Island company called QSPS Housing Solutions. Based in Johnston, the company is run by two highly experienced real estate and home improvement professionals. From my first meeting with the team at QSPS, it became clear to me that they were genuinely interested in getting me "to the finish line" and helping me achieve my goal of becoming a home owner. I was taken on a tour of a beautiful, newly remodeled home that was perfect for my family. We were able to rent the property while working with QSPS to improve my credit score. Together we made a plan to help me qualify for a mortgage. Sure enough, a little less than a year later, I realized the dream of home ownership.

My situation is far from an uncommon one. I would venture to say that there are many people like me that have the financial means to afford a mortgage payment but still find themselves unable to become homeowners. They are held back by iffy credit scores and complicated bank approval processes just like I was. For many, these obstacles represent permanent road blocks. Thanks to the team at QSPS, they became speed bumps instead. Today I own a home. I never would have guessed I would be able to say that after all I went through trying to get to this point and meeting nothing but resistance. Despite all the challenges, here I am at last. Being able to live in our home prior to getting the mortgage approval was a huge benefit. My family and I are extremely grateful to Greg and his team at QSPS Housing Solutions for helping us get (and stay) on the path to home ownership. We truly couldn’t have done it without you!

Sincerely,

Andrew R.