Lease Options or Rent to Own?

| Total Words: 594

Finding a rent-to-own house is one of the many ways someone with bad or no credit can buy a house. You will often find them called names like lease/options, lease with option to buy, lease purchase, lease 2 purchase, rent with option to buy, rent to own, or rent to buy homes.

There are a few differences between rent-to-own and lease-option agreements, although many people use the terms interchangeably. With a rent to own (or rent to buy) home, the buyer makes an agreement with the owner that part or all of the rent money will go towards the down payment of the home, and at a certain date, perhaps 2-5 years in the future, the renter will purchase the home, using the money that was set aside as the down payment.

There is usually not much money put down in the beginning, outside of what would normally be needed for a rental home, so this is a good way to get into a home for little or no down payment.

Another advantage to a rent to buy situation is that if you compare how much rent money is applied monthly to the home price, even if it is only 25-50%, it will still be much more money paid on the principal of the house than if you had taken out a loan for it....

To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...

Recommended Products You Might Like

How To Buy A Car With Little Or No Credit Resale Rights Ebook

Price: $1.97
Download Now

How To Buy A Car With No Credit MRR Ebook

Price: $1.97
Download Now

How To Choose A Dog MRR Ebook

Price: $1.97
Download Now