DigytaliaRent To Own Houses are the most common way to own a home in Michigan. It is not a loan, but rather a lease that can be purchased at the end of the term at a predetermined price. Rent To Own Homes are available throughout the United States!
The Benefits of Rent To Own Homes
Flexibility – You can decide when you want to buy, what you want to buy and how much you want to pay for it!
No Credit Checks – Rent To Own Homes are based on your monthly income, not your credit score!
No Down Payment Required – You don’t have to come up with thousands of dollars for a down payment before you move into your new home.
Fewer Closing Costs – Rent To Own Homes have less closing costs than traditional loans or leases. You will only have to pay legal fees and a few other small expenses at the end of your lease term.
Low Credit Score Not a Problem – If you have bad credit, don’t worry. Many Rent To Own Homes are available to those with less than perfect credit scores!
Low Interest Rates – Rent To Own Homes are a great way to build your credit and get lower interest rates. You can also qualify for other loans like home improvement loans, student loans and more!
How To Find Rent To Own Homes In Michigan
Whether you have bad credit or no credit, it’s not impossible to find a rent to own in Michigan. Rent to own houses give you time to fix your credit, save money for a down payment and learn about homeownership before taking the plunge.
There are dozens of rent-to-own companies in Michigan, but only a few specialize in helping people with bad credit or no credit get into their first home. However, many of these companies have the same requirements for rental applicants:
- You must be at least 18 years old
- You must have proof of employment or income (or be enrolled in school)
- You must have proof of an existing checking account (or open one through the company)
