Your Name:
Your Email Address:
To: (Email)
Subject:
Message:
Email Preview:

Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

How does a rent to own program work?
I've had a lot of questions about renting to own so I thought I'd post a little bit about how a model rent to own program works.
Rent to Own Basics Rent to Own is simply where you buy the property from the property owner under a private contract and the owner acts as a financial institution, just like a bank. If you have a 10% to 15% down payment, you can get the property without going through the traditional qualifying and loan approval process. the owner will give you a residential lease with the option to purchase the property at a specified price at any time during the lease period. Each payment you make will reduce the principle which you owe, just like a standard mortgage amortized over 15 or 30 years. However, unlike banks, most owners are not in business of providing permanent financing, so wthey can finance you only for a short term, to help you jump from renting into home-ownership. Most payments are set up based on a 30 year amortization schedule, but the standard rent to own arrangement would be for 1-5 years. At the end of that term you will have to obtain a replacement ... more

__________________________________________________
Are you on The Rain? Grow Your Network!




Spam prevention