That’s a common misconception! While Rent-to-Own can be more flexible than traditional mortgages, you do need a down payment to get started—typically around 5% of the home price. Here’s why: Your down payment becomes your initial equity in the home and is part of what helps you qualify for a mortgage at the end of [...]
Yes, this is mandatory and proof must be shown at the beginning of the term and each year that the insurance is renewed.
No, we do not charge you any fees. Your downpayment is 100% applied to your Rent-to-Own and credited back when you successfully complete the program and take ownership of the house. You also don't have to pay closing costs until you are ready to purchase the house at the end of the Rent-to-Own term. You [...]
Yes, but you will lose your initial downpayment and monthly credits. There could also be legal action taken against you as the agreements are very much legal. Each program is different, so review your contract carefully and speak with a real estate lawyer before signing.
No. The home is purchased for you by an investor at the beginning. At the end of the term, you buy the home and own it outright—no co-ownership, no shared equity, just your home.