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What is Rent To Own?

Simply put, rent-to-own is renting with the option to buy. The deal is setup using an Occupancy Agreement and an Option to Purchase Agreement. With rent-to-own, then tenant-buyer has the option to purchase the home at a pre-determined price within a given time period.

Rent to own is also known as lease to own, lease option, lease purchase, or rent to buy.[/vc_column_text][divider line_type=”Full Width Line” custom_height=”20″][vc_column_text]

Benefits of Rent to Own

There are several benefits of rent to own, but the biggest benefit to our clients is that we are often able to say yes when the bank has said no. With rent to own programs, clients can:

  • Use a lower down payment
  • Build equity (through monthly option credits)
  • Build sweat equity (through building improvements)
  • Avoid expensive closing costs
  • Take time to repair/re-establish credit

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How Does Rent to Own Work?

  • The tenant-buyer puts forward a small down payment. This is credited towards the purchase price when they purchase.
  • The tenant-buyer makes monthly payments and a portion of each payment accumulates additional down payment funds which are also credited towards the purchase price when they purchase.
  • During the rent to own program the tenant-buyer works to establish or repair their credit.
  • At the end of the program the tenant buyer applies for financing through a conventional lender.
  • With an accumulated down payment and a mortgage pre-approval, the tenant-buyer purchases the home and officially becomes a homeowner!

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Home Owner Prep Program

We know that real estate is a great investment vehicle for creating long-term wealth. We believe this so strongly that in addition to operating our Homeowner Prep Program, we buy rental properties to create wealth for our own families and partners.

Unfortunately for some people, the strict lending guidelines of the large banks prevent them from realizing the tremendous benefits of home ownership. Our Homeowner Prep Program offers an alternative to the big banks which allows you to rent-to-own the home of your choice, repair your credit and build equity as you progress towards becoming a homeowner!

See how you can start today with no bank qualifications, no closing costs & no large down payments. Continue On![/vc_column_text][divider line_type=”Full Width Line” custom_height=”20″][vc_column_text]

The Ideal HPP Client

We want to work with people who already have a homeowner mindset. Our Homeowner Prep Program is ideal for anyone who:

  • Is eager and motivated to become a homeowner.
  • Understands the benefits of equity appreciation, mortgage pay down, and the pride that homeownership provides.
  • Is tired of spending hard earned money on rent which makes their landlord rich.
  • Understands that real estate is one of the best ways to begin building their wealth.
  • AND who has had trouble obtaining traditional mortgage financing.

Most commonly, the main obstacle for our clients is obtaining a mortgage because they currently do not meet lender requirements. Through our Homeowner Prep Program, we offer our clients an alternative for home ownership and provide enough time to build the credit and equity required to successfully purchase their home at the end of the rent-to-own term.[/vc_column_text][divider line_type=”Full Width Line” custom_height=”20″][vc_column_text]

How the Homeowner Prep Program Works

The Homeowner Prep Program allows you to begin investing in homeownership today and is designed to help you strengthen your financial position so that you can qualify for a mortgage in the future. Through your participation in our HPP we help you:

  • Establish or repair your credit
  • Build a large enough down payment to purchase the home at the end of your term
  • Homeowner Prep Program Requirements

While we do not have the same strict qualification requirements as the banks, we do have some basic requirements for participation in our program:

  • Minimum down payment of 5%
  • Minimum gross household income of $60,000 per year
  • Any credit score

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Developing the Homeowner Mindset

Our Homeowner Prep Program is designed to put you in a position to officially become a homeowner. The program develops the homeowner mindset as you work at:

  • Improving your credit
  • Being financially responsible
  • Saving your money every month, and
  • Making sure you stay on track with your Homeowner Prep Plan!

Within a short time you will become a homeowner, but more importantly you will build wealth and equity in the process.[/vc_column_text][divider line_type=”Full Width Line” custom_height=”20″][vc_column_text]

3 Steps of HPP

The Homeowner Prep Program can be broken down into 3 main steps which help you achieve the dream of home ownership.

Step 1: Apply to Qualify

The first step in the process is to fill out our online application form. We want to work with clients where we can make a positive impact and the info you provide will help us customize your Homeowner Prep Program.

Click here to fill out our short online application and find out if you qualify!

Step 2: Choose Your Home

Once you qualify for our Homeowner Prep Program we will partner you with an Ownership Solutions Certified Realtor who will work with you to find your dream home!

Step 3: Prepare to Own

This is the most important step. Once you’ve found the right home, you move in and begin your Homeowner Prep Program. Over the term of your program we help you position yourself for home ownership at the end of your term.

More Questions?

If you still have questions on how the program works, or want all the details before you get started, visit our FAQ page.

Get Started Today

Nothing happens until you take action, so get started today.

Click here to fill out our short online application and find out if you qualify! There is nothing to lose, and by applying today you’ll quickly find out how we can help you.[/vc_column_text][/vc_column][/vc_row][vc_row type=”in_container” scene_position=”center” text_color=”dark” text_align=”left”][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ width=”1/1″][/vc_column][/vc_row]