How Does Lease to Purchase (Rent to Own) work?
Because approximately 82% of the market cannot qualify TODAY for financing and typically would need to improve their credit to do so. Alternatively, other buyers with good credit are looking for a way to buy now while they save more instead of renting while they save. As such, please find below our simple rent to own process.
1. Join our property list and tell us what type of home you're looking for, your budget, etc (START with the form to the right)
2. We'll send you a local rent to own/lease option homes that fit your criteria.
3. If you like a home and want to apply, we'll give you an application to fill out. Don't worry - we help people with all kinds of credit and financial situations, and if you can afford the property, we can probably help you to own it.
4. After you're approved to rent the property, we'll agree on a monthly rent amount and the future purchase terms. Then just sign the documents and move on in!
5. Move in and pay your rent payments on-time...then at the end of the rental agreement you can decide if you want to purchase the home or not.
THERE IS NO OBLIGATION to purchase the home after the rental agreement expires.
Equity Enhacement Program
We offer lease purchase (rent to own) properties only – no straight rent. All properties will require 3%-10% down and that is credited against your purchase price. You then pay a monthly lease payment. Some homes also feature our Equity Enhancement Program. That works like this: on any given month you can put an extra payment toward the purchase price of $100-$500 ($100 increments) and receive a credit against the purchase price of 50% more. For example, if you have a month when you feel you can put an additional $200 down for your down payment, you receive $300 credit. The maximum in one month is $500 down so $750 credit. You can always put more down to improve your down payment for future financing, but the free equity you’ll get with the Equity Enhancement Program is capped at $500.