Buying on Rent to Own
Why Rent, When You Can Rent To Own
Rent to Own and Lease Option Homes are a terrific alternative for people who would like to buy a home now, but may need some time to build their credit, or raise a down payment.
We specializes in homes that you can buy on a Lease Option, Rent to Own, or even Owner Financing.
So what does buying a house on rent to own or a lease purchase entail? The process is simple and uses three documents: A standard rental agreement, an Option agreement, and standard purchase agreement.
- The Rental agreement outlines the terms of rental, including monthly payment and length.
- The Option agreement gives you the right to purchase the home within the same time frame of the rental.
- The Purchase agreement out lines all the terms of the purchase such as the purchase price and closing.
While a typical bank requires 10-20% down payment, buying a Rent to own home only requires 3-6% option fee for the right to purchase the property. The great part is that all of money gets applied to the purchase price when you buy.
In addition, some situation we can give monthly rent credits, or a down payment assistant program. You live in the home while building equity, and have time to fix credit issues!
Most people think they can’t own their own home. Maybe you can relate to the following situations:
- You want to “Try out” a neighborhood
- Need to move fast, without waiting for a bank
- You are Self Employed
- Bad or no credit
- Recent Bankruptcy or Foreclosure
Whatever your situation is, we can help.