what does renting to own a house mean


  1. ing company to cut enough to equal your down payment after closing.

    How Does Rent-to-Own Work? What are the Pros & Cons. – This payment, known as option money, is a small percentage of the purchase price of the rent-to-own house. If the aforementioned $300,000 rent-to-own house had a contract stipulating 3% in option.

    loan for land and house What is an FHA construction loan? FHA construction loans come in two flavors: A construction to permanent loan is designed to help homebuyers build and own a home. A 203(k) rehabilitation mortgage is intended to help homebuyers not only purchase a house but also finance any necessary repairs or modernization.

    With the rent-to-own option now available to more tenants to buy a house or. This would mean you'd accrue $9,000 over three years to go toward a down.