How Does A Rent To Own – Lease Purchase 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 SW Louisiana rent to own / lease purchase 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 you can decide when you are ready to purchase the home on or before the end of your lease/purchase period.
How Long Are Rent To Own / Lease Purchase Terms?
Your lease/purchase 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 2 years, but in certain circumstances we may extend your option if you need more time to get your credit or downpayment up to the point where you can qualify for a bank loan.
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.
That’s the process!
Once you’ve completed your mortgage, you’re done – now you own your home!