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Disclosures

Disclosures

Our Rent-To-Own program is designed to help people who cannot qualify for traditional lending to purchase their dream home. We want to ensure that you understand the details of our program, and we have provided the following disclosures to help you make an informed decision:

  1. Rent-To-Own Agreement: Our Rent-To-Own program is based on a rental agreement with an option to purchase the property at a later date. The terms of the agreement will be provided to you separately, and you should review them carefully before entering into the agreement.
  2. Rent Payments: You will be required to make monthly rental payments for the property. The rental payments will be set at a fair market rate, and a portion of each payment will be applied towards the purchase price of the property.
  3. Option Payment: At the time of entering into the Rent-To-Own agreement, you may be required to make an option payment. This payment is typically non-refundable and serves as consideration for the option to purchase the property at a later date.
  4. Purchase Price: The purchase price of the property will be determined at the time of entering into the Rent-To-Own agreement. The purchase price may be set at a fixed amount or may be based on the fair market value of the property at the time of purchase.
  5. Maintenance and Repairs: You will be responsible for maintaining the property in good condition and repair during the term of the Rent-To-Own agreement. Any repairs needed beyond normal wear and tear may be your responsibility.
  6. Default: If you fail to make a rental payment or otherwise default on the Rent-To-Own agreement, you may lose your option to purchase the property and may be subject to eviction.
  7. Legal Advice: We recommend that you seek legal advice before entering into the Rent-To-Own agreement to ensure that you fully understand the terms and conditions of the agreement.
  8. Ownership: We will retain ownership of the property until the purchase price is paid in full and the deed is transferred to you.
  9. Credit Reporting: We may report your rental payments to credit bureaus. This can help you establish a credit history and improve your credit score.
  10. Not a Mortgage: Our Rent-To-Own program is not a mortgage and does not involve traditional lending. As such, it may be subject to different laws and regulations.

If you have any questions or concerns about our Rent-To-Own program or these disclosures, please contact us using the contact information provided on our website.

Rent-To-Own can be a good option for those who are unable to afford a large upfront payment for a home or other expensive item. It allows individuals to make monthly rental payments while also putting some of that money towards the eventual purchase of the property. This can be especially beneficial for those with less-than-perfect credit, as it provides an opportunity to improve their credit score over time while also working towards owning a property. Additionally, rent-to-own agreements can offer more flexibility than traditional mortgage loans, as they may allow for easier termination of the agreement if circumstances change. Overall, Rent-To-Own can be a good option for those who are unable to afford a large down payment upfront or have difficulty qualifying for a traditional mortgage.

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