Rent To Own Homes

Written by Rylee Newton
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One of the most affordable ways to purchase real estate is to find rent to own homes. The idea of renting to own seems like something that has long since been forgotten, but it's still a viable way to become a homeowner. In this volatile economy, sometimes you don't have enough capital to make a large deposit on your dream home. For a much smaller down payment, you can take the money you would have spent on rent, and begin to pay off the mortgage on your home.

The Unique Features of Rent to Own Homes

Rent to own homes are ideal for people with some past problems with their credit. If you've cleaned up your credit in the last couple of years, you may still have some bad credit reports floating around. When it comes to large home loans, many banks don't want to take a risk on someone with even just a few credit problems. The only way to buy a home is with a large sum of cash. Most of us don't have that access to that kind of available cash.

Rent to own homes are great for newlyweds and young families. They offer the stability of a family home with a reasonable monthly payment schedule. You can find homes that offer this unusual payment method through a realtor, in local newspapers, and online. The Internet is probably the best resource for this type of real estate. You can often find a private real estate listing service that offers this feature. No matter what your income or your credit history this is a great way to combine the convenience and low cost of renting property, with the stability and financial security of property ownership.

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