Here’s what you need to know about our new rent-to-own partner.

Have you been curious about how rent-to-owning works and if it's a fit for you? If you're someone who's been renting for some time and are ready to build equity for yourself, rent-to-own may be a great fit for you to get started. We've partnered with a rent-to-own company that has made the path to homeownership easy for you.

If you're someone who could use some help saving for a down payment, needs to improve their credit, or just wants to try out homeownership before committing, this may be the program for you.

Step one to getting started is to apply for free. It'll only take you five minutes to complete the application, and there's no commitment to pursue. 

Step two is finding the perfect home. You’ll have plenty of options to choose from and a home-shopping budget. After, we'll take you out to see the homes that qualify.

”There are so many benefits to those who take advantage of this unique program.”

Step three is that once we find the right home, we'll negotiate with the rent-to-own company and the home sellers. The rent-to-own company pays all the closing costs, taxes, and insurance; all you have to do is make the initial payment of 1% or 2% of the purchase price. For example, if you qualify for and find a home for $350,000, your initial down payment would be about $5,000. This money goes towards savings for your future down payment if you choose to purchase property within three years. 

Step four is that once your offer is accepted, you get to move into your new home and make it your own. Your monthly payment to the rent-to-own company will include a built-in savings of about 10% to 25%. For example, for a $200,000 home, the amount to go into your savings would equate to about $200 to $500 per month.

Step five is that you buy the home when the time is right at the preset price from the rent-to-own company. If anything changes and you decide you don't wish to purchase the home, you're not obligated to do so. You have the option to end your lease early with a 60-day notice, and you get to keep the savings you built with the rent-to-own company minus a 2% listing fee based on the value of the initial purchase price.

There are so many benefits to those who take advantage of this unique program. You'll build your own down payment through the company, whether you decide to purchase the home outright or not.

If you have any questions about this or another topic, please call or email us. We are always willing to help!