{"id":9991,"date":"2022-07-14T14:00:00","date_gmt":"2022-07-14T21:00:00","guid":{"rendered":"https:\/\/www.flyhomes.com\/blog\/?p=9991"},"modified":"2022-07-13T11:40:54","modified_gmt":"2022-07-13T18:40:54","slug":"rent-to-own-homes","status":"publish","type":"post","link":"https:\/\/flyhomes.com\/blog\/rent-to-own-homes\/","title":{"rendered":"What you need to know about rent-to-own contracts"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Is rent-to-own right for you?<\/h2>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p>Rent-to-own agreements can be helpful for certain <a href=\"https:\/\/www.flyhomes.com\/buy\" target=\"_blank\" rel=\"noreferrer noopener\">homebuyers<\/a> who need some time to save or increase their credit score before making a down payment or applying for a mortgage.\u00a0<\/p>\n\n\n\n<p>But you should know exactly what you\u2019re getting into before you sign any contracts.&nbsp;<\/p>\n\n\n\n<p>In this article, you\u2019ll learn the basics of what a rent-to-own home is, how it works, the different types of contracts and fees, and how to know if it makes sense for you.<\/p>\n\n\n\n<p><em>Buying a home doesn\u2019t have to be complicated, though. <\/em><a href=\"https:\/\/www.flyhomes.com\/useronboard\/flowform\"><em>Talk to a Flyhomes Agent<\/em><\/a><em> to see what your options are in your market, what you qualify for, and how we can help you buy your next home sooner.\u00a0<\/em><\/p>\n\n\n\n\n\n\n<p><strong>Key takeaways:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>What a rent-to-own home is<\/li><li>How rent-to-own agreements work<\/li><li>The two main types of contracts<\/li><li>Rent-to-own fees and expenses<\/li><li>The pros and cons of rent-to-own properties<\/li><\/ul>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">In this article<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d0a6192f33a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d0a6192f33a\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/flyhomes.com\/blog\/rent-to-own-homes\/#What_is_a_rent-to-own_home\" >What is a rent-to-own home?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/flyhomes.com\/blog\/rent-to-own-homes\/#How_does_rent-to-own_work\" >How does rent-to-own work?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/flyhomes.com\/blog\/rent-to-own-homes\/#Different_types_of_rent-to-own_contracts\" >Different types of rent-to-own contracts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/flyhomes.com\/blog\/rent-to-own-homes\/#Fees_you_pay_when_you_rent-to-own\" >Fees you pay when you rent-to-own<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/flyhomes.com\/blog\/rent-to-own-homes\/#Advantages_of_rent-to-own_agreements\" >Advantages of rent-to-own agreements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/flyhomes.com\/blog\/rent-to-own-homes\/#Disadvantages_of_rent-to-own_agreements\" >Disadvantages of rent-to-own agreements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/flyhomes.com\/blog\/rent-to-own-homes\/#What_other_options_do_you_have_besides_rent-to-own\" >What other options do you have besides rent-to-own?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/flyhomes.com\/blog\/rent-to-own-homes\/#Rent-to-own_homes_give_you_the_opportunity_to_build_equity_without_a_large_down_payment_or_mortgage_loan\" >Rent-to-own homes give you the opportunity to build equity without a large down payment or mortgage loan<\/a><\/li><\/ul><\/nav><\/div>\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_a_rent-to-own_home\"><\/span><strong>What is a rent-to-own home?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A rent-to-own home\u2014also known as a lease-to-own home\u2014is a house you rent for a period of time and then purchase when the lease is over.&nbsp;<\/p>\n\n\n\n<p>For some, this is a helpful way to eventually <a href=\"https:\/\/www.flyhomes.com\/blog\/how-to-stop-renting\/\" target=\"_blank\" rel=\"noreferrer noopener\">stop renting and buy a home<\/a>.<\/p>\n\n\n\n<p>People who enter rent-to-own agreements often do so because they don\u2019t have enough in savings for a down payment or their credit isn\u2019t quite high enough, at first, to secure a mortgage.&nbsp;<\/p>\n\n\n\n<p>Rent-to-own agreements allow you to live in the house while building up your savings and credit. It allows you the option to purchase at the end of the lease term, which can last anywhere from a few months to five years.<\/p>\n\n\n\n<p>Since the future isn\u2019t guaranteed, though, these types of agreements carry a certain amount of risk.&nbsp;<\/p>\n\n\n\n<p>It\u2019s important to hire an experienced real estate attorney or <a href=\"https:\/\/calendly.com\/flyhomes-meetings\" target=\"_blank\" rel=\"noreferrer noopener\">real estate agent<\/a> who can thoroughly explain your contract and its pros and cons as well as negotiate on your behalf.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_does_rent-to-own_work\"><\/span><strong>How does rent-to-own work?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>First, the buyer and the seller negotiate a contract, deciding between a lease-purchase or lease-option agreement (explained below).&nbsp;<\/p>\n\n\n\n<p>In a lease-purchase agreement, you and the seller will negotiate the purchase price upfront based on the home\u2019s current or projected value.&nbsp;<\/p>\n\n\n\n<p>Then, you both determine if the option fee and a portion of your rent payments go toward the down payment and which housing expenses are your responsibility during the lease. You\u2019ll also need to specify the length of the lease term.<\/p>\n\n\n\n<p>Once you sign the contract, you\u2019ll pay the option fee and begin renting the home. Then, when the lease is up, you\u2019ll get a <a href=\"https:\/\/www.flyhomes.com\/blog\/comparing-4-common-mortgage-loan-types\/\" target=\"_blank\" rel=\"noreferrer noopener\">mortgage loan<\/a> and purchase the property.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Different_types_of_rent-to-own_contracts\"><\/span><strong>Different types of rent-to-own contracts<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>There are essentially two types of rent-to-own agreements. It\u2019s important to understand which type you\u2019re signing and the amount of risk each entails.<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Lease-purchase agreement<\/strong>: With this type of contract, you have to buy the home at the end of your lease at a price you agreed on when you signed the contract. This can be a risky decision, especially if you end up not liking the home or can\u2019t obtain a loan at the end of the rental period. If you don\u2019t buy the house, the seller could sue you.<\/li><li><strong>Lease-option agreement<\/strong>: In this case, you have the option to purchase at the end of the lease but are not legally obligated to do so. At the end of the rental period, you and the seller determine the purchase price, usually after an appraisal. Keep in mind that if you decide not to buy, you lose out on the equity you\u2019ve built up so far.<\/li><\/ol>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1880\" height=\"1253\" data-attachment-id=\"9994\" data-permalink=\"https:\/\/flyhomes.com\/blog\/rent-to-own-homes\/pexels-photo-8962339-2\/\" data-orig-file=\"https:\/\/wp-media.flyhomes.com\/blog\/wp-content\/uploads\/2022\/07\/13104405\/pexels-photo-8962339.jpeg\" data-orig-size=\"1880,1253\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;Photo by Ivan Samkov on &lt;a href=\\&quot;https:\/\/www.pexels.com\/photo\/red-and-white-sign-board-on-the-lawn-grass-8962339\/\\&quot; rel=\\&quot;nofollow\\&quot;&gt;Pexels.com&lt;\/a&gt;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;red and white sign board on the lawn grass&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"pexels-photo-8962339\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Photo by Ivan Samkov on &lt;a href=&quot;https:\/\/www.pexels.com\/photo\/red-and-white-sign-board-on-the-lawn-grass-8962339\/&quot; rel=&quot;nofollow&quot;&gt;Pexels.com&lt;\/a&gt;&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/wp-media.flyhomes.com\/blog\/wp-content\/uploads\/2022\/07\/13104405\/pexels-photo-8962339-300x200.jpeg\" data-large-file=\"https:\/\/wp-media.flyhomes.com\/blog\/wp-content\/uploads\/2022\/07\/13104405\/pexels-photo-8962339-1024x682.jpeg\" src=\"https:\/\/fhblog.imgix.net\/https%3A%2F%2Fs3-us-west-2.amazonaws.com%2Fflyhomes-imgix%2Fblog%2Fwp-content%2Fuploads%2F2022%2F07%2F13104405%2Fpexels-photo-8962339.jpeg?auto=format%2Ccompress%2Cenhance&amp;dpr=1&amp;ixlib=php-3.3.1&amp;w=1880&amp;s=6c05c7674f703cb04862b483a3fe9b38\" alt=\"red and white sign board on the lawn grass\" class=\"wp-image-9994\" srcset=\"https:\/\/wp-media.flyhomes.com\/blog\/wp-content\/uploads\/2022\/07\/13104405\/pexels-photo-8962339.jpeg 1880w, https:\/\/wp-media.flyhomes.com\/blog\/wp-content\/uploads\/2022\/07\/13104405\/pexels-photo-8962339-300x200.jpeg 300w, https:\/\/wp-media.flyhomes.com\/blog\/wp-content\/uploads\/2022\/07\/13104405\/pexels-photo-8962339-1024x682.jpeg 1024w, https:\/\/wp-media.flyhomes.com\/blog\/wp-content\/uploads\/2022\/07\/13104405\/pexels-photo-8962339-768x512.jpeg 768w, https:\/\/wp-media.flyhomes.com\/blog\/wp-content\/uploads\/2022\/07\/13104405\/pexels-photo-8962339-1536x1024.jpeg 1536w, https:\/\/wp-media.flyhomes.com\/blog\/wp-content\/uploads\/2022\/07\/13104405\/pexels-photo-8962339-610x407.jpeg 610w, https:\/\/wp-media.flyhomes.com\/blog\/wp-content\/uploads\/2022\/07\/13104405\/pexels-photo-8962339-370x247.jpeg 370w\" sizes=\"auto, (max-width: 1880px) 100vw, 1880px\" \/><figcaption>A rent-to-own home is a way some renters have of building equity and saving up to enter the real estate market, but not all contracts are the same<\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Fees_you_pay_when_you_rent-to-own\"><\/span><strong>Fees you pay when you rent-to-own<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>When you sign a rent-to-own agreement, you pay a non-refundable option fee, which is at least 3% of the home\u2019s total purchase price.&nbsp;<\/p>\n\n\n\n<p>In some cases, though, it can be as high as 10%. This fee typically goes toward the <a href=\"https:\/\/www.flyhomes.com\/blog\/20-percent\/\" target=\"_blank\" rel=\"noreferrer noopener\">down payment<\/a>.<\/p>\n\n\n\n<p>Your rent will also be higher than the market value, especially if your landlord is putting a percentage of it toward your down payment. The equity you build up through these payments is also nonrefundable.<\/p>\n\n\n\n<p>Lastly, your landlord may also require you to pay for repairs, maintenance, property taxes, and even HOA fees while you\u2019re renting the home.<\/p>\n\n\n\n<p>Be sure to check the contract thoroughly to see which expenses you\u2019re responsible for during your lease.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Advantages_of_rent-to-own_agreements\"><\/span><strong>Advantages of rent-to-own agreements<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>1. You have a few years to save for a down payment and improve your credit score.<\/strong><\/h4>\n\n\n\n<p>If you\u2019re confident you\u2019ll be in a good position to get a mortgage loan by the time the lease is up, then rent-to-own may be a good idea for you.&nbsp;<\/p>\n\n\n\n<p>In a <a href=\"https:\/\/www.flyhomes.com\/blog\/truths-about-the-current-real-estate-market-and-tips-on-buying-in-a-sellers-market\/\" target=\"_blank\" rel=\"noreferrer noopener\">seller\u2019s market<\/a>, this arrangement can be a great way to stake your claim on a home ahead of time and avoid intense competition.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>2. You can experience the home and neighborhood before buying.<\/strong><\/h4>\n\n\n\n<p>It\u2019s normal to test-drive cars before buying, but you usually can\u2019t do that with houses.<\/p>\n\n\n\n<p>Rent-to-own allows you to experience what it\u2019s like to live in a particular home and neighborhood before committing to a purchase.&nbsp;<\/p>\n\n\n\n<p>Plus, you can save on moving costs since you\u2019re already living there.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>3. You can purchase a home that doesn\u2019t qualify for a conforming loan.<\/strong><\/h4>\n\n\n\n<p>Rent-to-own homes aren\u2019t just for people with little savings and low credit.&nbsp;<\/p>\n\n\n\n<p>Sometimes this option makes sense for those looking to purchase in expensive markets, where many home prices exceed conforming loan limits.&nbsp;<\/p>\n\n\n\n<p>Rent-to-own opportunities give these buyers time to save for the higher down payment that a <a href=\"https:\/\/www.flyhomes.com\/blog\/what-is-a-jumbo-loan\/\" target=\"_blank\" rel=\"noreferrer noopener\">jumbo mortgage loan<\/a> may require.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Disadvantages_of_rent-to-own_agreements\"><\/span><strong>Disadvantages of rent-to-own agreements<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>1. Rent is more expensive.<\/strong><\/h4>\n\n\n\n<p>Since a portion of your rent payments goes toward future <a href=\"https:\/\/www.flyhomes.com\/blog\/using-equity-to-buy-your-next-home\/\">equity in the home<\/a>, your rent will likely be higher than the market value. It\u2019s common for rent-to-own tenants to pay hundreds of dollars extra in rent than their neighbors.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>2. You may be obligated to pay for repairs and other housing costs.<\/strong><\/h4>\n\n\n\n<p>Many landlords require that rent-to-own tenants pay for the home\u2019s upkeep and property taxes.&nbsp;<\/p>\n\n\n\n<p>If an appliance breaks down or the house experiences major damage, it could eat a hole in your savings.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>3. If you can\u2019t buy the home, you lose the money you\u2019ve already paid.<\/strong><\/h4>\n\n\n\n<p>The option fee, rent payments, and housing expenses you pay are non-refundable.&nbsp;<\/p>\n\n\n\n<p>So if you don\u2019t end up buying the home (or don\u2019t qualify for a mortgage), you lose that money.&nbsp;<\/p>\n\n\n\n<p>And remember, if you sign a lease-purchase agreement and don\u2019t buy, your landlord could sue you.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>4. You may end up paying more for the home than it\u2019s worth.<\/strong><\/h4>\n\n\n\n<p>With lease-purchase agreements, the purchase price is locked in from the start. In this case, sellers often raise the price to accommodate for <a href=\"https:\/\/www.flyhomes.com\/blog\/affects-of-inflation-on-homebuying\/\">market appreciation<\/a>.&nbsp;<\/p>\n\n\n\n<p>But if the seller overestimates the appreciation or if the market sees an unexpected downturn, you could find yourself stuck with an inflated purchase price.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>5. The seller can cancel the contract if you don\u2019t meet the requirements.<\/strong><\/h4>\n\n\n\n<p>If you miss even one rent payment, you could face more than a late fee.&nbsp;<\/p>\n\n\n\n<p>In that case, a seller could void the contract and you\u2019d lose the money you already paid towards the home. The same could happen if you don\u2019t keep the home well maintained.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_other_options_do_you_have_besides_rent-to-own\"><\/span><strong>What other options do you have besides rent-to-own?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Although rent-to-own homes can be a viable way for some people who are strapped for cash to get into the market, it\u2019s not the only way.&nbsp;<\/p>\n\n\n\n<p>You can also look into whether you qualify for one of the various down payment assistance programs that help you gather the funds needed to make a down payment.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Or, see if you can apply for an FHA mortgage loan, which requires down payments as low as 3% in certain cases.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Rent-to-own_homes_give_you_the_opportunity_to_build_equity_without_a_large_down_payment_or_mortgage_loan\"><\/span><strong>Rent-to-own homes give you the opportunity to build equity without a large down payment or mortgage loan<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Rent-to-own homes can work for some people, especially if they fall in love with a particular house and want to live there while they save for the down payment.<\/p>\n\n\n\n<p>But lease-to-own agreements can also be risky.&nbsp;<\/p>\n\n\n\n<p>Before you commit to anything, make sure you hire a professional real estate attorney who can research the landlord, explain the contract to you, and help you weigh the pros and cons.<\/p>\n\n\n\n<p>Remember that everything in these agreements is negotiable\u2014from the purchase price to the option fee to the expenses you\u2019ll be responsible for.&nbsp;<\/p>\n\n\n\n<p>Be sure to ask your attorney the best way to negotiate your rent-to-own contract so that it poses the least amount of risk to you.<\/p>\n\n\n\n<p><em>Buying a home doesn\u2019t have to be complicated, though. <\/em><a href=\"https:\/\/www.flyhomes.com\/useronboard\/flowform\" target=\"_blank\" rel=\"noreferrer noopener\"><em>Talk to a Flyhomes Agent<\/em><\/a><em> to see what your options are in your market, what you qualify for, and how we can help you buy your next home sooner.\u00a0<\/em><\/p>\n\n\n\n\n\n\n<p><strong>About the author: <\/strong>Jenny Rose Spaudo is a freelance PropTech and finance copywriter as well as a happy Central Florida homeowner. She\u2019s written for clients like Edward Jones, AAA, PropStream, Jetty, and Knock, and her writing has appeared in publications like <em>Business Insider<\/em> and <em>GOBankingRates<\/em>. Connect with her on <a href=\"https:\/\/www.linkedin.com\/in\/jenny-rose-spaudo-freelance-writer-real-estate-finance-accounting-ministry\/\" target=\"_blank\" rel=\"noreferrer noopener\">LinkedIn<\/a> and visit her <a href=\"https:\/\/jennyrosespaudo.com\" target=\"_blank\" rel=\"noreferrer noopener\">website<\/a> to learn more.<\/p>\n<input type=\"hidden\" id=\"calendly_utm_post_id\" value=\"9991\" \/><input type=\"hidden\" id=\"calendly_utm_post_title\" value=\"What you need to know about rent-to-own contracts\" \/>","protected":false},"excerpt":{"rendered":"<p>Rent-to-own homes can be helpful for certain homebuyers who need some time to save before making a down payment or applying for a mortgage. But they&#8217;re not all the same. <\/p>\n","protected":false},"author":148668397,"featured_media":9992,"comment_status":"closed","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[655423254],"tags":[],"class_list":["post-9991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-a-home"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What you need to know about rent-to-own contracts - Blog<\/title>\n<meta name=\"description\" content=\"Rent-to-own gives homebuyers the opportunity to build equity without the large down payment or mortgage loan. 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