Rental Source One

What is a Rent to Own Transaction?

A Rent to Own transaction is when a homeowner agrees to lease or rent to own you their home and you, as the tenant, have an option to buy the home for a pre-mediated price before the lease agreement is up. It gives you a chance to "try out" the home and surrounding neighborhood, while you working on building up a down payment and fixing any past credit discrepancies you may or may not have.

The average lease term on a Rent to Own home is typically anywhere from 1 to 3 years, depending on how long you need to adjust your credit. One of the big reasons why so many people are choosing to Rent to Own a house is because you can in most cases get into a Rent to Own home with little or no money out of pocket, so even if you don't have any money put aside for a down payment you can still rent to won houses. And what the homeowner will normally do is offer rent credit, which is a percentage of the monthly payment, which is applied to the purchase price at the end of the lease or rent to own agreement that generally is where your actual down payment will come from.

Why Choose Rent to Own?

If you're tired of renting and want to own a home, but your credit, income or lack of a down payment will not allow you to qualify for a mortgage right now, then Rent to Own is for you. If bad credit is holding you back, then you need some time to fix it. With a Rent to Own home, also referred to as a lease option or lease to own, you get to live in the home you want right now while you work on getting your credit fixed enough to purchase the home when the lease period is up. Achieving financial improvement goals is critical during the leasing period and we provide you with the tools and resources you will need to get a plan in place to get yourself back on track.

• Rent To own Houses
• Lease Purchase Homes
• Rent Option Houses
• Bank Owned Homes
• Lease To Own homes
• Owner Financed Homes
• Lease Purchase Condos
• Conventional Purchase

Moving into your new home

We can have you moved in quickly, so once you make your final choice on a home for you and your family and you're ready to move forward, one of our Rent to Own Specialists will assist you each step of the way to ensure this is the easiest move you have ever made! Remember, there's no rush and you're never under any obligation. The most important thing is finding the home that's right for you!

Remember:

• Great deals come and go quickly! Keep your search active; our Rent to Own and Lease Option listings are updated regularly and you don't want to miss out on a great deal!
• Be patient! A new home is a major commitment and you want to make sure you find a home that's right for you.
• Use all of the tools and resources available to you. In addition to the listings, you will also get access to all three of your credit scores free!