This is a lease with the property owner to rent for a typical period of 12-24 months with the option (not the obligation) to buy the home with a traditional mortgage at this end of this period at the agreed-upon purchase price.

There is a non-refundable option deposit (approx 10%), plus first month’s rent, due at signing. This deposit is considered the down payment amount at time of mortgage.

If your credit score is 560 or above, with debt-to-income ratio (your total debt divided by your gross income) of approx. 43%, you may be eligible!

Within these 12-24 months, debt paydown or credit repair can be worked on in readiness for mortgage application.
We partner with credit repair services and lenders to help create a successful rent to own opportunity for buyers and sellers.

The tenant buyer pays for repairs, maintenance, lawn care, etc since these are typical responsibilities of a home owner. The monthly lease (rent) payment does not go towards the purchase price, though any extra amounts paid (optional) above the rent do go towards the purchase price.

At the end of the option period (generally 12-24 months), should you wish to not pursue the purchase of the home, the upfront option deposit is non-refundable.

Every property is different …. every seller and buyer situation is different, so give us a call to discuss further.

Phone: 321-321-3301

Email: [email protected]