Rent To Own Program Details

The Rent to Own program is also known as a Lease-Option Agreement and was designed to help people with credit issues move in to the home of their dreams NOW, while providing the extra time needed to rebuild their credit scores and accumulate a larger down payment before they need to qualify for a mortgage.

Most of the people we work with DO NOT qualify for a mortgage right now... By repairing your credit score during the Rent to Own term you will ensure that you can qualify for a mortgage loan from the bank to purchase the property within the Rent to Own period.

One of the unique features of our Rent to Own program is that we will pay for a Credit Specialist to work with you one on one and provide credit counseling to you throughout the term. This FREE service is great for providing guidance to you on what you need to be doing to efficiently and effectively rebuild your credit. You still have to do the work, but our Credit Specialist will work with you to get you on the right track and be there to answer any questions for you along the way.

In the Rent-to-Own program we work with you to determine what type of property will best fit your needs and in what price range. We then shop for the property with you and we may buy the property ourselves, or have one of our investors purchase it for you to move into as a Rent-to-Own tenant. A portion of your monthly rent will be credited each month to apply toward your down payment when you exercise your option to buy.

Rent to Own Step-By-Step

You fill out an application for the Rent to Own program and fax/e-mail it back to us.
We will send your Application to our preferred mortgage broker/credit specialist who will check your credit to get a financial snapshot of what your credit looks like today. We usually hear back from the mortgage broker within 24-48hrs.

DON'T WORRY, most of our clients do not currently qualify for a mortgage right now and typically have poor credit or don't have enough of a down payment to qualify for a mortgage. One of our tasks is to assist you in rebuilding your credit score while you are living in the home of your dreams!
Our mortgage broker will get back to us with your approval and let us know what maximum house price you can afford based on your income.
We will put you in contact with one of our preferred Realtors for you to work with in searching for your home. You start looking for properties on the MLS or Private Sales in the area(s) of your choice within the price range you have qualified for.
Once you find a home you are interested in, we will negotiate on the property and one of our investors will purchase the property for you to move into under the Rent to Own program.
You put down a small down payment that is 100% credited toward your purchase price when you buy at the end of the term. (example $7,500).
You get to move into the home of your dreams under the Lease to Own program!
You will accumulate monthly credits toward your down payment each month as you pay rent.
We will pay for a credit specialist to work with you during the Lease to Own term to help you repair any credit issues that need to be taken care of for you to be able to qualify for a mortgage to buy your home.

An Example

The best way to explain how the numbers work in the Rent to Own program is through a typical example. In this example we will look at $200,000 property in a nice area where properties continue to rapidly appreciate in value. Appreciation rates vary by region, this is only an example.

Example Rent-to-Own Numbers

Initial Down Payment	$8,000	Generally about 4% of the purchase price of the home, or $5,000, whichever is greater.
Total monthly payment Monthly Rent portion Monthly Option portion	$1,700 $1,400 $300	Utilities not included. * Numbers vary depending on the property.
Lease Term	3 Years	1-4 years based on your credit
Agreed purchase price at the end of the lease period	$231,525	Locked in at the beginning of the term when you sign the Option to Purchase Agreement.
Down payment saved over the lease period	$10,800	($300 x 36 months)
Total down payment saved	$18,800	$10,800 + $8,000 (initial down payment)
Amount owing to purchase house after 3 year lease.	$212,725	This amount can be financed with a first mortgage from a bank or other lending company.

We do everything possible to ensure that working with us is an enjoyable experience where we keep you updated during each step of the process. If you have any questions, please do not hesitate to either call or e-mail us and we would be happy to answer any further questions you might have.

Proceed to Frequently Asked Questions...