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To get into a rent to own home,yousign a rental agreement and also a document that outlines how you plan to purchase the house. The amount you pay can be negotiated,but you generally agree to pay something that above market rent. That extra portion攖ypically 25% to 30% of the monthly payment攇oes toward the eventual property purchase.

People also ask


  • What do you need to know about a rent to own?

  • A rent-to-own agreement is made up of two agreements: a standard lease agreement, and an option to purchase; these may be incorporated in one document or two separate documents. In a rent-to-own agreement, the title to the house remains with the landlord until the tenant exercises his or her option and purchases the property.

  • Can you buy a rent to own home with options?

  • There are two types of legal agreements to choose from with rent to own homes. A lease agreement with option to purchase This contract gives you the right攂ut not the obligation攖o buy the home at the end of your lease. If you decide not to go through with the purchase, the option expires, and you can walk away.

  • What are the steps to rent-to-own a home?

  • As a renter, you can spend time saving money or working to build your credit before purchasing a home. Once a seller has agreed to a rent-to-own contract, the steps you檒l take include: Sign a rent-to-own contract: Since there are two kinds of rent-to-own contracts, it’s important you understand what you’re agreeing to.

  • Do you need a mortgage to rent to own a house?

  • Rent-to-Own Homes: How the Process Works. If you檙e like most home buyers, you檒l need a mortgage to finance the purchase of a new house. To qualify, you must have a good credit score and cash for a down payment. Without these, the traditional route to homeownership may not be an option.