Wednesday, February 15, 2012

What Are The Advantages of Renting to Own My Next Home? Part 2

There are many advantages to Renting to Own over simply renting. We outlined two -- lower down payment and earning rent credit toward the purchase price -- in a previous post.

Here are two more advantages:

* Qualifications Not As Strict as in Conventional Financing. Your credit score and other such factors are not as important when renting to own as they are when you purchase with a conventional mortgage. In fact, most Rent to Own buyers are in the process of credit repair while renting to own. You can earn rent credit toward the purchase price while you repair your credit, and then qualify for a mortgage a year or two down the road -- but having earned thousands or tens of thousands in rent credit toward the home which you otherwise would have lost in rent money.

* Past Credit Problems Not a Roadblock. Bankruptcy, foreclosure, short sale, collections from medical bills... You will have a tough time getting a conventional loan for quite a while with these on your credit report. Fortunately, with rent to own, you can begin earning money toward the purchase of the home while you work at resolution of some of these credit trouble spots, or while you let time erase some of them.

We can recommend credit repair specialists and programs -- or even mortgage brokers who specialize in working with credit repair -- to help you clean up your reports, all while you are putting your rent money to work toward the purchase of your next home.

Call us at 630-697-4500 and we'll help you get out of the rental road to financial ruin.

See Rent to Own properties we have available and join our email list at

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