Do you want to purchase a home but are missing some of the requirements for a mortgage? If so, the rent to own program might just be the blessing you need. This program allows you to find the home of your dreams and rent it with the option to buy it later on. With this option, you (the tenant or buyer) are given the opportunity to buy the home at a pre-set price.
How does this program work?
- You put down a small down payment which is then credit towards the purchase price of the home.
- You make monthly payments and a portion of those payments are added to your down payment funds which is also credited to the purchase price of the home.
- You agree to (re)build your credit for the length of the program
- At the end of the program you can apply for financing through conventional means
How does this benefit you?
- You build equity for your home
- You avoid closing costs
- You can (re)build your credit
- We often say yes when the bank has said no!