How Does Rent to Own Housing Work?
Rent to own is an option worth looking into with a lot of different possibilities. Take the time to read on what your options are when considering rent to owning a home.
Buying a home is a big deal, especially for those who have had credit problems in the past. The most common way to buy a home is with a mortgage loan, which requires both a credit score that the lender finds acceptable and enough cash on hand for a down payment (and usually some other costs). For some, this can be a barrier to homeownership because they either have previous credit problems or are unable to get the cash together to cover down payments and other costs. Fortunately, there are some alternatives available.
One option that can put homeownership within reach is rent to own housing. As the name implies, this provides an option where the would-be homeowner can actually take possession of the house as a renter before the purchase is finalized. While this may not be available as an option for everyone, here are some details about rent to own housing in case you’re considering a rent to own purchase. Read More