What does “rent to own” mean?

“Rent to own “is the creative way to purchase your dream house,it is also known as “lease to purchase”.”Rent to own “contract is signed between you and the seller for a period of time ( normally 1 and 3 years) ,yet it may be seen for a longer period.By this program you have the opportunity to accumulate your down payment and buy your desired home.

When you buy your home under “rent to own” program you pay monthly rent, and a portion of it is usually put aside as down payment .While you live in the house you desire to own ,you have saved a considerable amount as the down payment.Even if you are Bad credit , this program is designed as a proactive step which allows you to become a homeowner.