We get this question quite often. Truth is the rent to own concept is known by many different names. The reason for this is geographic in nature. In Texas lease purchase is more common then rent to own as it is known in Ohio, but this is a very broad generalization.
Let's look at all the phrases that essentially mean the same thing as rent to own -lease purchase, lease option, lease to own, owner financing, lease to buy, option to buy, lease with option, lease option to buy, rent option to buy, and land contract.
If you have any questions about this post your comments here.
3 comments:
What are there, like 48 ways to say the same thing? I guess it depends on what part of the country you are in. As for me I bought a lease with option. Glad I did befor prices creep back up.
You have a nice website. Question for you. How can I apply for a loan? Your Homefinder Gold program found me a great deal but the seller wants $20,000 down and I only have $16,000 for now. Thanks.
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