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.

Family

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.

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We form a team around each family with independent Financial Counselors, Realtors and Banks to help you qualify for home ownership through our 21-month rent-to-own program.

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HOW WILL YOU BENEFIT?

 

HOW DOES IT WORK?

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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 the Rent To Own Milwaukee Program,

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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:

  1. Sign a lease
  2. Pay for your first month rent
  3. Pay for the security deposit
  4. Sign an Option to Purchase at a specific purchase price
  5. Pay for the Rent-to-Own Fee (Option fee amount that goes towards the purchase price when you buy)

During the rent to own period (prior to your purchase), Strong Blocks encourages you to:

  1. Know the cost of the water bill, property tax bill, and maintenance and repair costs paid for by Strong Blocks
  2. Help maintain the property's yard and common areas (mowing the lawn, general clean-up, and shoveling snow)
  3. Save money for the additional closing costs and/or down payment you may need when you buy
  4. Complete the requirement of your home BUYING PLAN
  5. Keep in contact with your bank about your mortgage loan

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 sign the agreement 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 encouraging other families to participate in Strong Blocks Rent to Own Milwaukee Program, participating in formal or informal neighborhood watches and associations, and keeping your home and yard well maintained.

EXAMPLE SINGLE FAMILY HOME*

Single-Family-Home
Monthly Rent: $1,100
Purchase Price: $100,000

The up-front payment includes the following:

  • Rent-To-Own Fee: $3900**
  • Security Deposit: $1100
  • First Month’s Rent: $1100

Total Cash for Keys payment: $6100
MINIMUM CASH TO MOVE IN: $2500

EXAMPLE DUPLEX HOME*

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Monthly Rent: $800 (Upper or Lower Unit only)
Purchase Price: $100,000

The up-front payment includes the following:

  • Rent-To-Own Fee: $4200**
  • Security Deposit: $800
  • First Month’s Rent: $800

Total Cash for Keys payment: $5800
MINIMUM CASH TO MOVE IN: $2500


* Costs are estimates only; Actual costs will vary.

** Refundable only towards purchase price. Payment plans available with a minimum of $2500 cash for qualified applicants. 

Check out our available properties page for more details on specific opportunities today,

 

Small Check Out Our Available Homes

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 if a Family wants us to continue to provide services 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.

YOUR TEAM IS YOUR GUIDE, BUT YOU WILL BE THE CAPTAIN AND OWN YOUR FUTURE.

LEARN HOW TO GET STARTED TODAY

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