How Rent To Own Works

Rent To Own Basics in Lincoln, Nebraska

Rent To Own comes down to a tenant-buyer having a contract with the seller of a property to purchase the property at a set price within a given time-frame. Before the right to purchase the property expires, the tenant-buyer will pay a monthly rent payment. As long as the property is purchased outright within the agreed upon time-frame, then tenant-buyer will become the owner of the property. This has some very important benefits for tenant-buyers here in Lincoln, NE.

Key Rent To Own Benefits

There are many key benefits for tenant-buyers to peruse a rent to own property. Below I have the major benefits of rent to own properties here in Lincoln, NE.

• Become a buyer
  • No more just renting, you will be living in a house that will be yours!
• Lock in the purchase price
  • The agreed upon price minus the option deposit make up the total you will pay for the property at a future closing date, even as the real estate market continues to see massive increases in property values year after year.
• No Banks
  • To become a rent to own buyer here in Lincoln we don’t use banks. If you can make a monthly payment and can pay a option deposit (that will go towards your down payment) you may be a great rent to own candidate.
• No Credit or Bad Credit
  • If you have credit issues, now is the time to clean them up. But that doesn’t mean you can’t move into your dream home now. With rent to own here in Lincoln with New Light Homes you can move into one of our rent to own properties without credit.
• Build your future
  • Through rent to own you can get a jump start on a home for yourself and your family that will pay off in the long term.

Rent to Own Considerations

• Up Front Option Deposit
  • This non-refundable option deposit will go towards your down payment once you qualify for a conventional loan. However, if you choose not to qualify within the time frame agreed upon, this money will be forfeit.
• Consider the monthly rent payment and that it is within your budget.
• Home maintenance
  • Since you will be treated as a owner in a rent to own situation, you will be responsible for the home repair and maintenance considerations as a home owner would. Keep this in mind as you peruse rent to own opportunities, you’re not just a renter anymore.

Conclusion

After considering the above benefits and considerations mentioned, rent to own here in Lincoln Nebraska may be a great option for you and your family. Here at New Light Homes we are excited to work with new tenant-buyers and help you move forward with making new home ownership a real possibility. Becoming more informed is the first step towards understanding the rent to own process here in Lincoln. Please contact us through this site’s contact form or via email at: NewLightHomesLincoln@Gmail.com and we will be happy to add you to our mailing list for future rent to own properties as they become available. Also feel free to like us on Facebook to keep up to date as well.