What Is A Lease Rent To Own Agreement?
The lease rent to own agreement is an agreement between you, a potential home buyer, and a home seller, or home owner, that allows for you to lease the home for a certain amount of time with the ultimate being that you buy the home from the seller after a period of time. The lease rent to own agreement is also called a lease purchase option, or a lease to own, or a rent to own agreement. This agreement allows you establish a rental history that demonstrates a commitment to homeownership which his what any mortgage underwriter wants to see to aide in their mortgage application approval process. With prior and recent credit problems you will most likely have low credit scores which will keep you from qualifying for a mortgage. With a lease rent to own agreement, all you have to do is convince a home owner to sign a lease purchase agreement with you. Typically in this situation – money talks. If you have some money saved you can use this for a down payment on the agreement. If you do have
