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How Does Rent To Own Homes Work

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Even if you have bad credit you can still own a home

So how does rent to own homes work? If you have credit problems you can rent to own or lease to own, complete with easy terms. The nice thing about this is there is no bank qualifying. If home owners are saying I need to sell my house fast, this makes it possible, as you have more buyers that can buy your home. This is also called lease to buy and there are easy terms that go with it. Now buying a house with bad credit is possible. This usually happens if the housing market is saturated with houses to sell. When this happens rent to own becomes a popular option and it helps both the buyer and the seller. Tell us what you are looking for at: http://fchomesbroward.com/looking-for-a-home/

The way it works is simple. When you buy a house using this program you would pay rent like you normally would when you move into a home. The rent to own is a contract to buy, however the closing date has been put off for a couple of years. This allows the new home owner to save for the down payment as well as get financing for the home. This also helps the seller as his mortgage payments are covered while they are waiting.

There are several advantages to using this method of purchasing a home. You have plenty of time to secure financing. You can also freeze the price of the home at the start of the contract. This means that even if you buy the house two years from now, the price will be the same. The buyer can also state in the contract that the rent payments that are made in the interim will go towards the down payment or toward the sales price.

This gives people the opportunity to buy a home, that would not ordinarily have this option due to a variety of reasons including credit problems, or not having the down payment.

For more information go to : http://fchomesbroward.com/lease-to-own-program/  or call us at 786 505 8884

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