Rent to Own Process
How Does A Lease With Option Home Agreement Work?
The rent to own process is actually pretty simple.
- Join our property list and tell us what type of home you’re looking for, your budget, etc (START with the form to the right)
- We’ll send you local Winston-Salem, NC rent to own / lease option homes that fit your criteria.
- If you like a home and want to apply, we’ll give you an application to fill out. Don’t worry – we help people with all kinds of credit and financial situations, and if you can afford the property, we can probably help you to own it.
- After you’re approved to rent the property, we’ll agree on a monthly rent amount and the future purchase terms. Then just sign the documents and move on in!
- Move in and pay your rent payments on-time… then at any point prior to the end of the rental agreement you can decide if you want to purchase the home or not.
THERE IS NO OBLIGATION to purchase the home after the rental agreement expires.
How Long Are Rent To Own / Lease Option Terms?
Your lease/option agreement (also known as the rent to own contract) will spell out the length of time that you have to complete the purchase of the property – typically our agreements run from 12 – 18 months, but in certain circumstances we may extend your option if you need more time to get your credit or down payment up to the point where you can qualify for a bank loan. We specialize in helping people just like you realize their dream of home ownership!
The purchase of your home usually takes place through a traditional mortgage loan, but there are other ways to complete the purchase, depending on your finances. One of the great benefits to rent to own is that many lenders treat your loan application as a “refinance”, which in most cases is a less stringent qualification process.
That’s the process!
Once you’ve completed your mortgage, you’re done – now you own your home!