WHAT IS STRONG BLOCKS?
We make Milwaukee homes available for renters who want to be owners, but can't get a loan from the bank right away.
We know how hard it is to buy a home. Too many families who could own, pay more to rent. Strong Blocks is dedicated to helping families achieve home ownership within 21 months.
HOW WILL YOU BENEFIT?
- Team of experts.
We help you form your team with independent Financial Coaches, Housing Counselors, and Banks to plan for and achieve home ownership. - Cheaper to own than it is to rent.
Save $100 per month or more when you go from renting to owning your Strong Blocks home in most cases. You also may qualify for grants to lower your costs of ownership even further.
- Remodeled, move-in condition homes.
Each of our rent to own homes in Milwaukee has been remodeled by professionals and is ready for you and your family to move right in. - Affordable mortgage within 21 months.
We help you qualify for an affordable, low-cost mortgage within 21 months…with a goal of 9-18 months. During this time the rent and purchase price will not change.
HOW DOES IT WORK?
RENT TO OWN BUYERS
As a rent to own buyer, you'll get qualified and work directly with Strong Blocks, and you may also work with one of the home buyer counseling agencies below to help you get approved for your home purchase and down payment and closing cost grant money,
Even if you do not reach out to our program partners above, Strong Blocks does recommend that you ask someone to review all documents to advise you prior to entering the program. If you intend to rent to own, you will:
- Sign a lease
- Pay for your first month rent
- Pay for the security deposit
- Sign an Option to Purchase at a specific purchase price
- Pay for the Rent-to-Own Fee (Option fee amount that goes towards the purchase price when you buy)
During the rental period prior to your purchase, Strong Blocks expects you to:
- Know the cost of the water bill, property tax bill, and maintenance and repair costs paid for by Strong Blocks
- Maintain the property's yard and common areas by mowing the lawn, doing general and regular clean-up, and shoveling snow
- Save money for the additional closing costs and/or down payment you may need when you buy
- Complete the suggested steps of your home BUYING PLAN to get bank approved
- Keep in contact with your bank about your mortgage loan pre-approval and closing
AS A BUYER, after you successfully complete your rent-to-own contract, you will be able to buy the property by obtaining a loan from a bank. There is no penalty for purchasing the property before 21 months. You have the right to purchase the home at anytime between the day you move in and the expiration of the agreement.
AS A NEIGHBOR, when you start to live in your home, Strong Blocks encourages you to participate in the strengthening of your neighborhood. This can be done by participating in formal or informal neighborhood watches and associations, keeping your home and yard well maintained, and encouraging other families to participate in Strong Blocks Rent to Own Milwaukee Program and other local home ownership programs like those offered by Acts Housing and Housing Resources, Inc.
EXAMPLE SINGLE FAMILY HOME*
The up-front payment includes the following:
- Rent-To-Own Fee: $4750**
- Security Deposit: $1250
- First Month’s Rent: $1250
Total Cash for Keys payment: $7250
MINIMUM CASH TO MOVE IN: $3500
EXAMPLE DUPLEX HOME*
The up-front payment includes the following:
- Rent-To-Own Fee: $5150**
- Security Deposit: $850
- First Month’s Rent: $850
Total Cash for Keys payment: $6850
MINIMUM CASH TO MOVE IN: $3500
* Costs are estimates only; Actual costs will vary.
** Refundable only towards purchase price. Payment plans available with a minimum of $3500 cash for qualified applicants.
Check out our available properties page for more details on specific opportunities today,
key things to consider
You will need funds to pay the up-front Cash for Keys payment (minimum of $2500) and the rest of the sale price when you buy the house. Consider the following:
- You may not be able to purchase because you might not qualify for a mortgage loan from a third party, or have the balance of the down payment required.
- Strong Blocks is not a mortgage company, does not have any obligation to provide or arrange a mortgage loan, and cannot guarantee that a Family will be able to obtain a mortgage loan.
- For Duplexes, Strong Blocks can arrange for property management for additional fees if a Family wants us to continue to provide services to the 2nd unit after becoming the owner.
- The value of the home may decrease below the price agreed to at the time of entering the rent-to-own program and paying your Rent-to-Own Fee.
- You will need the remaining amount of the down payment after you apply the Rent-To-Own Fee you already paid, and to obtain a mortgage loan from a third party.
- If you decide not to buy the home or you can't buy the home as agreed, the Rent-to-Own Fee portion of your Cash for Keys payment would not be refunded.
Strong Blocks assists Families that participate in its Rent-to-Own program to enter financial coaching, credit education, and homebuyer counseling programs that have increased the likelihood of qualifying for a mortgage loan for other Families in the past. Strong Blocks cannot guarantee or in any way assure that these programs will increase the likelihood that you will qualify for a mortgage loan or will obtain a mortgage loan in the future.
The key to Strong Blocks rent-to-own program is that you utilize the team of experts to complete a realistic Buying Plan, commit fully to the work needed to complete your Buying Plan, qualify for an affordable mortgage loan, and purchase your home within the 21 month timeline.