WHAT IS RENT TO OWN?
How does Rent to Own work?
Rent to Own has been around for quite a while now. People have been buying beautiful homes with rent to own for years.
Imagine you and your family in a new home. It can happen with rent to own.
So how does rent to own work? It is not much different than purchasing a home the traditional way, except that you will not have a long drawn out closing process. You can close on your new home rather quickly.
In most cases, you will have to provide proof of income (but this is a much easier process with Rent to Own).
You will find your dream home. Negotiate a down payment and a monthly payment schedule. Your payment or rent will be slightly higher than if you were just renting, but the extra will go toward paying down the purchase price of the home.
After paying for the home for usually 2-3 years, you can apply for a traditional mortgage and buy the house outright. It really is that simple.
​
​
​
 |  |  |
|---|---|---|
 |  |