Rent to Own is an innovative way to purchase Real Estate that dates back to the 1970’s. It was made popular then because Mortgage Loans were hard to qualify for, much like they have become again today.
Rent to Own contracts allow people, without perfect credit or a large Down Payment, to buy real estate. A typical Rent to Own contract allows the Buyer to Lease the property for 3-36 months before they purchase it. This gives the Buyer an opportunity to fix their credit and or save up enough money for the Down Payment. In conjunction, a portion of the monthly Rent is applied towards the Buyers Purchase Price.
Over the past 10 years, Sub-Prime Loans took the place of Rent to Own due to the ease in which Buyers could qualify for Mortgages. However, Sub-Prime loans no longer exist because of the recent Mortgage Meltdown, & Foreclosure Crisis. Rent to Own is once again becoming a popular way to purchase Real Estate.
You Can Become A Homeowner, Rent 2 Own Today!!
Disclaimer: Rent2ownConnect.com is not a licensed real estate agent or broker. We do not represent buyers or sellers.
