Tuesday, May 14, 2013

rent to own homes for low income families

Have you been dealing with the stress of having bad credit and low income for years? But you want to buy a house and can't afford it because of your bad credit? It can be pretty difficult to maintain good credit if you have low income.

What many people do is join a rent to own program for a house because the program has the tools you need if you have low income in your family. Rent to own is for home buyers that are having a hard time getting approved for a mortgage.

There are many steps that you can take to talk to the homeowner about a rent to own option with low income. Look at it this way doing this will help you get the credit solution you need plus start saving a down payment for the principal of the house.

You will however, need to write up a plan or a contract with the seller of the home if they are interested in a rent to own option. The things you need are:

  1. A understanding of a rent to own option
  2. A seller that is interested in rent to own option
  3. A written contract for rent to option
With these three things you can be successful in making a deal for a rent to own option for a house. Now many sellers might not know what a rent to own option is and that can be a large in for you to explain what it is and how it works. 

Getting on the phone is another step that you need to take if you are serious about buying a home. Building a relationship with the seller is going to make rent to own options easier. You can't give up if you are serious about getting in to a better lifestyle.