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Rent to Own

CENTURY 21 agents shows rent to own home to couple in Orlando

LEASE WITH A RIGHT TO PURCHASE

Looking for a rent to own style option for your next home? Do you have less than perfect credit? A prior foreclosure or bankruptcy? Struggling to find a lender that will approve you for a mortgage? No worries, there is a good chance we can help through the Lease with Right to Purchase Program. It is a transparent and fair process and there are no large down payments or non-refundable deposits.

Rent to own application on a clipboard with a CENTURY 21 OneBlue inkpen

PROGRAM QUALIFICATIONS

In order to qualify for the program, you must meet the following criteria:

  • Minimum 6-months of stable employment
  • Minimum household income of $50,000 per year (before taxes)
  • A credit score of around 575* or higher
  • Chapter 7 bankruptcies are DISCHARGED
  • Chapter 13 bankruptcies are in the payment plan stage and ALL payments are made on time
  • No felony convictions.
  • No prior evictions or outstanding apartment collections
  • You can not be currently in default under a lease agreement
  • Debt to income ratio (including requested rent) below 45%

HOME CRITERIA

Not all homes qualify. Here is a list of the main requirements for homes to be able to be approved in the program:

  • 2-bedrooms or more
  • 2-bathrooms or more
  • Home value from $150,000 to $450,000
  • Top-rated high school district
  • Can not be located along a major highway, under airport flight paths, under high tension power lines.
  • Single-family home or townhouse (fee-simple, no condos)
  • Traditional Purchases ONLY that are move-in ready – Bank Owned, Short Sales, or Auctions are not considered.
  • Minimum monthly rent is ~$1300/month and up.

LEARN MORE ABOUT THE PROGRAM

Contact Us Now

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