How Does the wam e-z Rent To Own Program Work?
You rent the home from us and then purchase it at a later predetermined date at a set price. This in turn gives you time to save up for a larger down payment, time to clean up past credit problems, and a portion of your monthly payment goes towards rent. If and only if you make your payments on time, the other portion goes towards the down payment of the property. All of your monthly lease option credits and down payment is credited towards the purchase price. 2. How much of a down payment do I need? Tenants should come in with a minimum down payment of 4% of the purchase price or more. Of course the more you have, the better it is for you since this is your foundation for your mortgage application in the future. 3. If accepted in your program, do I require a deposit? If you are accepted into the program, we require an initial deposit of $500. First, it is required to obtain the Intent to Lease application. We have found this separates those who are really serious about doing the progr
