#lease to own homes
Rent to Own
Our Rent-to-Own process will help ensure your successful purchase of a home.
If you have the desire to own your own home but still need some time and assistance in order to qualify for financing, the FasterHouse Rent-to-Own program may be a good fit for you. The biggest benefit to our program is the opportunity to reside in your new home while you complete your qualifications to purchase. What sets our program apart from other programs is our unique approach to providing a coach to work with you throughout the process. A Rent-to-Own coach can provide the same benefit to your home purchase as a personal trainer provides at the gym.
The way the program works is simple. The first step is to choose a home from our currently available Rent-to-Own portfolio and submit an application. Remember, this program is designed for someone who has some work to do in order to qualify for financing. We work with people in many different situations. This program can be a good fit if you need more time to save for a down payment, time to build new credit or clean up past credit, you need to wait out time constraints required by the lender or any other reason you may need time to complete your qualifications for financing.
Once you are approved and have chosen the home that you and your family would like to purchase, you will sign a contract and pay an option fee. This fee varies based on a combination of the specific home and the strength of your application. The option fee serves several purposes. Most importantly, it will secure your exclusive right to purchase the home during the lease period. Once you are ready to complete your financing, the full amount you paid will be credited towards your down payment, closing costs or wherever it benefits you most for completing your purchase of your new home.
You will then lease the home for the amount of time necessary to complete your financing. We will help you determine the length of time needed during the screening process. It is typically 24 months or less for you to complete your qualifications and own your new home. This is accomplished by participating in personalized coaching sessions throughout your lease period. FasterHouse provides a coach at no additional cost to you to help ensure your successful purchase. You can find out more details regarding our exclusive coaching program here on our website.
So if you are serious about committing to the purchase of your next home and would like the benefit of living in that home today while you work towards the completion of your financing, we look forward to hearing from you.
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