RentToOwn-HouseFinder.com

i am looking at homes to buy and i keep coming up to lease purchase and rent-to-own?

i cannot find out what the diff. is between lease purchase and rent-to-own like one home that i like say opition to purchase home year one for 149,000 increases 5% year two what dose that mean to thank you so much

Public Comments

1. Referring to the one home you mention you like the option to purchase in the1st year for 149,000 and will increase yr 2 at 5 %. means they will lease you the home for x amount of time usually a portion of your rent (which is negotiable) is held towards either your down payment or closing costs towards the purchase of the property. If you exercise your option to purchase the property in the first year they will sell it to you at 149k If you don't purchase it until the second year the price will increase by 5% which would make the purchase price 156,450 I would recommend you speak with a lender to see if you can qualify for the purchase or find out what you need to do so you can qualify. I would be more then happy to assist you in getting pre-qualified feel free to contact me my web site is http://homefrontmortgage.us