How Does A Lease With 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 Washington 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… at any point of the rental agreement, you can execute your right to purchase.
How Long Are Rent To Own / Lease Option 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 3 years, but can be extended as long as payments are being made on time.
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!