Rent to Own Homes Guide
As a homebuyer, a mortgage is typically required to purchase a home. Your credit needs to be good in order to qualify for most loan programs, and a cash down payment may also be required. If you don’t have all that, you might not want to take the typical route to homeownership. However, there’s an alternative; rent to own homes which allow you to lease a home, and have an option to purchase it before the end of the lease. The arrangement typically had two parts: a regular lease agreement and an option to buy. These types of arrangements are beneficial to both buyers and sellers, but there are some risks involved you should also know of. You can also use these types of agreements for rent to own mobile homes and rent to own trailers. This article will cover how rent to own works, the pros and cons, plus the factors to consider by buyers and sellers.
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.References: Rent to Own, rent to own home, rent to own house, rent to own trailer, rent to own mobile home, rent to own agreement
