How Does A Lease With Purchase Home Agreement Work?
The rent to own process is actually pretty simple.
- Join our property list and tell us what type of home you’re looking for, your budget, etc (START with the form to the right)
- We’ll send you local Fort Wayne rent to own / lease option homes that fit your criteria.
- If you like a home and want to apply, you can apply here on our website. Don’t worry – we help people with all kinds of credit and financial situations, and if you can afford the property, we can probably help you to own it.
- After you’re approved to rent the property, we’ll agree on a monthly rent amount and the future purchase terms. Then just sign the documents and move on in!
- Move in and pay your rent payments on-time. Use the time given to you to improve your credit or fix what’s holding you back from qualifying for a Mortgage. Then at anytime during the rental agreement you can purchase the home.
How Long Are Rent To Own / Lease Option Terms?
Your lease/option agreement will spell out the length of time that you have to complete the purchase of the property – typically 1 to 3 years.
A Rent to Own / Lease Option allows you to move in now, and use the time given to improve your credit or other situations preventing you from qualifying for a Mortgage. We can refer you to a Mortgage specialists to help you through this process.
That’s the process!
Once you’ve completed your Mortgage, you’re done – now you own your home!