If you dream of owning your own home but can’t get approved for a conventional mortgage because of credit issues, you aren’t alone and you certainly aren’t stuck without options.
There is hope! The beauty of America is that you always have options to succeed! A rent to own home is the smartest way for you to buy a home. Don’t get confused, rent to own is also called lease before you buy, rent before you buy and lease option-just to name a few of the terms. All of them give you the opportunity, to rent a house with an option to buy a house, even if you don’t have clean credit. All the different names and terms can be overwhelming but the basic explanation of them is that you can rent a house with the option to own that home.
Basically, a lease to own home can make your monthly rent payments work for YOU instead of throwing it away without seeing any return. No doubt your landlord wants you to rent a house so THEY can get richer! However, in this day and age there are just too many other options that allow you to buy a house to be stuck renting forever.
In fact, rent to own homes have an added benefit! They allow you to live in your dream home before you even buy the home! Owner finance (yet another term used for rent to own) also allows you to use your money for whatever you want, without tying up all your funds in a down payment.
Lease to own isn’t just a desperate option for those that want to buy a house but have bad credit, it is the most efficient way to get from point A (rent a house) to point B (own a house)!
There are actually A LOT of benefits that lease option homes give you, which we’ll continue to explain in our blog. There are just too many to address in one entry. We’ll discuss one topic at a time to keep it simple! None of us like feeling confused and overwhelmed when trying to make an important life decision. Trying to own a home is stressful but we’ll help simplify it!