Lease Option Program

Defining a Rent to Own Home

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Owning a home is part of the American dream and something that everyone should be able to accomplish.

Many years ago, people used to think of buying a home in their late 40s and 50s when they had enough savings and disposable income to afford it. Gradually the trend started to drift towards people buying a home after spending a few years in their career field. Of course provided that they saved enough money for a down payment and had a decent credit rating.

Though due to the economy, loss of income, or poor credit ratings, it became more challenging for many people to own a home and ended up renting.

To maintain the American dream, the real estate experts came up with an original way to combine renting and and owning a home.

This is process of buying a home is referred to as rent to own. It works by allowing you to rent a home you want to own. Once the buyers have had a chance to work on their credit and save enough money to make a down paymen, you have the option of purchasing the home.

Not only is this a renter friendly option for the new generations seeking to purchase a home of their own, it is also a safe way to find the perfect home without having to get a mortgage immediately.

No worries if you change your mind. Most rent to own program give you the option to not purchase the home.

If you are interested in looking for a rent to own home, we have one of the largest databases of Maryland rent to own houses available.

By Dana Ash-McGinty

Dana Ash-McGinty is the Principal Broker of ASH | MCGINTY, a Washington, DC Real Estate Brokerage. This real estate maven has 15+ years experience in residential, commercial and land sales in addition to multi-state residential renovation, re-zoning, and condo conversion projects. A sought after real estate authority, she has been featured on CNN and in various real estate and financial publications. Dana is married to the highly esteemed Dr. Dana W. McGinty, a Washington, DC internal medicine physician and medical correspondent. They are often referred to as "The Danas".