bad credit, no credit, no problem
HOW DOES RENT to OWN WORK?
Tenant Buyers clicks on the Rental Application link. One application per adult, $35 per applicant.
Tenant Buyers pay 3.5% of the PURCHASE price of the home up front as the "Lease Option" fee. That money goes towards the purchase price of the home.
Example: Sales price $100,000 x 3.5% (0.035)=$3,500 Lease Option fee. Tenant Buyer now is purchasing the home for $96,500.
Anytime within the duration of the contract, it is the Tenant Buyers' responsibility to apply for and be approved for a mortgage.