BAKERSFIELD, Calif., April 07, 2022 (GLOBE NEWSWIRE) — There is no shortage of reasons why many hard-working people can no longer buy homes. Whether it’s saving for a down payment, maintaining a perfect credit score, managing student debt, meeting strict mortgage requirements, or competing with cash offers in an incredibly hot market, many people struggle to find their way to home ownership.
Realth, a Santa Barbara real estate startup, is changing that narrative with the launch of its rent-to-own program in Bakersfield this spring. “We couldn’t be more excited about launching in Bakersfield – it’s an ideal market for us and we’re excited to help people get out of the rental cycle and into home ownership,” said said Realth founder and CEO Samuel Walters. “Owning a home is the primary source of generational wealth for most families in this country, and there are too many hard-working, worthy individuals and families being left behind,” he says.
Realth’s rent-to-own program combines the flexibility and low-cost entry of renting with the benefits of building equity in a property. Here’s how it works: A tenant applies with Realth online and, once approved, receives a real estate budget. The tenant can choose any home on the market within that budget and Realth will make a cash offer to purchase the home. Realth leases the house to the tenant for three years, and a portion of each rent payment is allocated to owning the house. After three years, the tenant will have 5% of the home’s value, enough to secure a mortgage, and options to purchase the home at any time for a preset price set from the start.
“We believe this will revolutionize the way millions of people buy homes by making it easier and more accessible,” says Walters. “This will level the playing field and give many families the opportunity to access the homeownership they deserve.”
Realth encourages anyone interested in the rent-to-own program to register now on its website. “We’re getting a lot of interest and will be giving early access to those who sign up now,” Walters said. Interested parties can reserve a spot by going to www.getrealth.com and clicking the “Get Started” button.
“We are looking forward to making our first home purchase in Bakersfield,” says Walters. “The homeownership game is about to change.”
Founder and CEO of Realth
1117 State Street
Santa Barbara, CA 93101
Picture 1: Samuel Walters
Image 2: Realth Logo
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