Our Rent-to-Own Program Explained:Are you currently renting but would rather own a home? Our rent-to-own program might be just what you're looking for to get you off the rent rolls.Here's how it works: Step 1:Rent out the home.Example: $500 Monthly Rent + $1500 Option Fee $2000 To Move In Step 2:Rent for 12 months (or up to 18 months).Establish credit with the help of a loan officer (we can recommend a good one). Pay on time/by check. Step 3:Apply for a mortgage loan.Step 4:Purchase the home.Example: $50,000 Purchase Price - $1500 Option Fee $48,500 Balance Note: Everyone's situation is different. Credit history, income and debt-to-income vary. The above example is for illustration purposes only and although it is typical, it might not be applicable to everyone. |