What is rent to own?

If you’re like many homebuyers, your ability to purchase a new house will depend on the mortgage. To get this, you must have a good credit score and cash for a down payment. Without these, the traditional route to homeownership may not be an option.

Sometimes, you don’t have enough money saved up to pay a downpayment or you are in a job transition and cannot qualify for a loan. Perhaps you have a divorce that isn’t yet resolved or another financial hurdle in your path.

If this is the case, you might be interested in a rent-to-own home. When structured correctly, these arrangements can provide many benefits for both the seller and buyer.

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