RENT-TO-OWN ANYONE CAN BUY NO MORTGAGE NEEDED
Rent-to-own is an instalment purchase financed initially by the owner of the property and there is NO interest.
A typical rent-to-own transactions require a 10-20% deposit and then 12 – 60 months of monthly payments. The selling price is agreed at the time owner and tenant/buyer enters into a contract. At the end of the contract the tenant pays the balance to the owner and the property transfers to the buyer.