What it is
Rent-to-own arrangements let you rent a home with the option (or obligation) to buy it later, with a portion of rent often credited toward the future down payment.
Who may qualify
- Renters working toward homeownership
- Buyers needing time to build credit or savings
- Varies by program and landlord
How to apply
- 1Search reputable rent-to-own programs
- 2Have a real estate attorney review the contract
- 3Understand the option fee and rent credits