How does Rent to Own Work?
There’s a couple of reasons rent to own is a great option:
You want to live in a house for a period of time (outlined by the contract usually 1-3 years) with the option to purchase if you the house is right for you.
You are unable to purchase a home because of poor credit. In this case you enter into a contract with the homeowner to work on your credit and have an option to purchase at the end of the contract.
Rent to Own is basically a rental/lease that provides the option to buy in the contract. Unlike purchasing a home, you don’t need to have a minimum credit score to be accepted into a program. The landlord/seller of the property you are interested in will have the option to approve you at their own discretion.
With rent to own you can work on your financial situation and increase your credit score while living in your dream home!