What landlords don’t tell you about rent-to-own programs Are you considering a rent to own or lease to own option because your credit score is low? Or maybe because you think you can get a better deal on a home? As a real estate agent I get asked a lot of questions about rent-to-own programs how they work and are they a good deal. The sounds awesome right? Let’s dive into them a little deeper.
Finding a rent-to-own house is one of the many ways someone with bad or no credit can buy a house. You will often find them called names like lease/options, lease with option to buy, lease purchase, lease 2 purchase, rent with option to buy, rent to own, or rent to buy homes. There are a few differences between rent-to-own and lease-option agreements, although many people use the terms interchangeably.