RENT-TO-OWN
The Rent-to-Own program of home buying provides an easy stepping stone to owning a home of your own. You don’t need prefect credit or a big down payment. Stop throwing your money away on rent and start paving your way to home ownership. You could be a homeowner in as little as two years.
How Does It Work?
You qualify for our Rent-to-Own homes the same as you would for any rental. You then rent the home while we provide resources that can help you qualify for a mortgage. You have three years to get a mortgage and purchase the home. We can even provide financing for tenants who are unable to qualify for a mortgage.*
As a rent-to-own tenant you’re given the rights of home ownership. You can do things renters can’t. For example, if you want to change a paint color, go for it! Make the home your own! Similarly we ask that you maintain the home, as any homeowner would.
Frequently Asked Questions
How much money is needed to move in?
You need the first month’s rent and a small down payment. It varies a little, but figure on around 3 times the monthly rent for well qualified applicants.
What if my credit isn’t so good?
We’re not looking for perfect credit but we do make sure you’ve got adequate income to cover your bills. If income checks out but credit is an issue we may approve you with an increased deposit.
What if I need to move out?
You’re not obligated to buy the home but your down payment is non-refundable.
How does this compare to a traditional home purchase?
It’s different in two big ways. First our program is much easier to qualify for than a traditional bank loan. Second you’re not locked into the house if you change your mind or need to move.
I don’t understand how home buying works – what do I do?
We keep the program simple and we’ll help you move from tenant to buyer. We’ll put you in touch with the pros that can make it happen for you. Your job is to keep up with your bills and maintain a steady income.
What about property taxes & insurance?
We take care of property taxes and insurance for as long as you’re on the program. We do however recommend you get renters insurance as the home insurance won’t cover your things in the house.
What if an expensive repair is needed?
The truth is most home repairs aren’t expensive, but if you needed say, a new $2000 furnace that you can’t afford, we can make the repair for you and add it to the cost of the house.
What is the sale price of the home?
The sale price is generally set at market value when you buy. We can give you an estimate of the current value if you'd like. For homes that need substantial initial repairs, the sale price is set initially and listed on the property's page of our website.
Is my payment fixed or can it increase?
Your monthly rent increases a little each year with inflation. After you buy the home, your loan payment is fixed if you have a fixed rate loan.
*Financing may be offered for tenants who are unable to qualify for a mortgage but have followed our guidelines (credit repair, etc.) and adhered to the rental agreement (on-time payment of rent, etc.). Contact us for more details.
How Does It Work?
You qualify for our Rent-to-Own homes the same as you would for any rental. You then rent the home while we provide resources that can help you qualify for a mortgage. You have three years to get a mortgage and purchase the home. We can even provide financing for tenants who are unable to qualify for a mortgage.*
As a rent-to-own tenant you’re given the rights of home ownership. You can do things renters can’t. For example, if you want to change a paint color, go for it! Make the home your own! Similarly we ask that you maintain the home, as any homeowner would.
Frequently Asked Questions
How much money is needed to move in?
You need the first month’s rent and a small down payment. It varies a little, but figure on around 3 times the monthly rent for well qualified applicants.
What if my credit isn’t so good?
We’re not looking for perfect credit but we do make sure you’ve got adequate income to cover your bills. If income checks out but credit is an issue we may approve you with an increased deposit.
What if I need to move out?
You’re not obligated to buy the home but your down payment is non-refundable.
How does this compare to a traditional home purchase?
It’s different in two big ways. First our program is much easier to qualify for than a traditional bank loan. Second you’re not locked into the house if you change your mind or need to move.
I don’t understand how home buying works – what do I do?
We keep the program simple and we’ll help you move from tenant to buyer. We’ll put you in touch with the pros that can make it happen for you. Your job is to keep up with your bills and maintain a steady income.
What about property taxes & insurance?
We take care of property taxes and insurance for as long as you’re on the program. We do however recommend you get renters insurance as the home insurance won’t cover your things in the house.
What if an expensive repair is needed?
The truth is most home repairs aren’t expensive, but if you needed say, a new $2000 furnace that you can’t afford, we can make the repair for you and add it to the cost of the house.
What is the sale price of the home?
The sale price is generally set at market value when you buy. We can give you an estimate of the current value if you'd like. For homes that need substantial initial repairs, the sale price is set initially and listed on the property's page of our website.
Is my payment fixed or can it increase?
Your monthly rent increases a little each year with inflation. After you buy the home, your loan payment is fixed if you have a fixed rate loan.
*Financing may be offered for tenants who are unable to qualify for a mortgage but have followed our guidelines (credit repair, etc.) and adhered to the rental agreement (on-time payment of rent, etc.). Contact us for more details.
We are an equal opportunity housing provider, and we rent our homes without regard to race, color, religion, national origin, marital or familial status, sex, or physical disability.
For properties listed as for sale, seller may own property or may be selling their equitable interest in the property.
For properties listed as for sale, seller may own property or may be selling their equitable interest in the property.