Renting to Own

Rent-To-Own or RTO is a term used to describe what happens when a program participant is able to secure a home under special terms before they can actually purchase a home.

As you make your way through the consultations with your sponsoring Advisor, you'll reach a point in which you'll be eligible to for the option to move into one of dozens of newly renovated homes. What most people don't understand is that you actually have an Agreement of ownership in a Rent-To-Own similar to a mortgage Agreement. The stipulation is simple; you've demonstrated enough progress in the program to support the notion of allowing you to move into someone else's home, making a monthly payment that is enough to cover their debt service and obligations on the home until such time that you can complete the program and purchase that home yourself.

A Rent-To-Own can be as short as six months and as long as five years, it all depends on the house selected and the willingness of the current owner to wait on you to complete the program and purchase the home.

The rent to own program is a great way to find the home you love, rent the home while you finish the program and complete the purchase of that home. The rent-to-own program gives you the time you need to implement credit improvement strategies, establish your income, and pay off debts.

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