RentToOwn-HouseFinder.com
What are typical terms in Rent-to-Own home aggreements?
I had found information on two different types of terms. One was straightforward with a house valued at $200k renting for $1k a month but rent to own was $1,200 a month with $400 in credit each month towards down payment if renter decides to purchase. Is this pretty typical? What would you say these terms would be for a house valued at $250k? If this helps, we are dealing directly with the home owners.
Public Comments
- Most of the terms will depend on the mortgage payments of the owners. If taht $250K house is 10 years old, it is likely it was bought at a lower price and has lower mortgage payments than a brand new house and you will be better able to negotiate lower overall payment. But figure on the $400/month going towards the deposit.
