“There are many benefits to a rent to own agreement when it’s done with a reputable company like Conner Properties. We’re with you step by step during the process. Read below to see how the process works!”

– Conner Properties

How Does A Rent To Own Home Agreement Work?

The rent to own process is actually pretty simple.

  1. Join our property list and tell us what type of home you’re looking for, your budget, etc (START with the form to the right)
  2. Browse our current rent to own / lease option homes and let us know which one fits your needs/budget.
  3. If you like a home and want to apply, give us a call to get started. 252-622-4722 Don’t worry – we help people with all kinds of credit and financial situations, and if you can afford the property, we can probably help you to own it. We just need some info to get started.
  4. We will review your credit and income information. If your income qualifies, and you have a good down payment..even if your scores are low, we may be able to appprove you for a lease/option if we feel good about getting your credit scores up within a 12 month period. Once approved, we will meet at the attorneys office to sign the documents and move on in!
  5. Move in and pay your rent payments on-time… just remember, this is not a rental. If we allow you to move in, our intention is for you to own this home at the end of the lease term.

The down payment you give is applied back to you on your mortgage closing to be used as down payment, closing costs, ect..the rent is strictly rent. It is not deducted from the purchase price.

How Long Are Rent To Own / Lease Option Terms?

Your lease/option agreement (also known as the rent to own contract) will spell out the length of time that you have to complete the purchase of the property – typically 12 months, but in certain circumstances we may extend your option if you need more time to get your credit up to the point where you can qualify for a bank loan.

The purchase of your home usually takes place through a traditional mortgage loan, but there are other ways to complete the purchase, depending on your finances.

That’s the process!

Once you’ve completed your mortgage, you’re done – now you own your home!

First step – sign up to find great properties around Newport, NC and Surrounding Areas just by filling out the form on the upper right of this page.