Rent to Own In the News: "One of the unique aspects of a lease option is the potential offer for putting no money down upon signing the lease. There are creative ways that can be explored when a person is short on finances, but wants the ability to make payments toward future home ownership."
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The Complete Guide to Rent to Own Houses An Overview of the Rent to Own Process . When it comes time to consider purchasing your home, a viable option for many people is the rent-to-own (RTO) option. This practice is gaining favor with young people and families who may not have the means or the credit to secure a mortgage loan.
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“This may be a good option when two factors are present: Your home would rent for at or more than your mortgage payment and. you’ll be running a credit check – that should save you the time of.
A well-advised, clearly written agreement is key to a successful rent-to-own deal.A rent-to-own contract, also known as a lease-option contract, can be a great way for a credit-challenged renter to become a homeowner.However, rent-to-own transactions are more complicated than traditional home sales and can lead to legal battles and financial losses if you aren’t completely clear on the risks.
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