Owning a home today feels like an unreachable American Dream. Buying a home can be a difficult process especially for those with poor credit, no credit and/or limited cash on hand. A Lease to Own, also known as Rent to Own Option may be just for you! Based on your individual criteria, we can be very creative with financing.
Buying vs. Rent to Own Homes
The difference between buying a home and signing up for a lease-option depends on your timeframe and how much money you spend on buying the house.
When you buy a house outright, you pay for the fair market value of the home plus interest and other fees charged by your financial lender, if you have one. You buy the property today and immediately start building equity in it.
However, when you rent to own, you won’t own the home until you close on the property, which could be as far as three years from today. You’ll also pay rent monthly, and you don’t get that money back.
There are some fees that you pay for rent to own that you’ll get back as a credit towards the price of your home, like option fees and rent credits. These count as equity on the home. This can attract more buyers and sellers can work with buyers with lower credit scores.
Our mission – to match homes with a dream owner!
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