RENT TO OWN
What is the rent to own program?
The rent to own program is designed to assist purchasers that do not qualify for traditional financing but will be eligible for a mortgage with the rent to own program within 2-5 years. This program provides the ability to have a home today, without the traditional financing and rejection of such financing due to negative credit, bankruptcy, etc. by saving for a sufficient down payment as well as establish & rebuild your credit. A portion of your rent will be set aside and used towards the downpayment of your future home while rebuilding your credit and ability to qualify for a mortgage.
Who's this for?
This is for:
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Individuals who do not qualify for a mortgage
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Filed bankruptcy within the last 5-10 years
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Bruised credit or low credit score
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Currently renting and wanting to own a home
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Ability to afford a monthly rent of $1200+ per month minimum
What is the process?
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Initial introduction. You can call, email or meet with us in person to answer any of your questions or have the process explained in further depth.
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Complete the Rent to Own pre-application. Here.
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Meet with Froese Properties to review your home needs and your application.
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Go over our portfolio put together for you and decide on a property that meets your needs and your budget.
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Sign the Lease Agreement and provide rent payment.
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Submit your down payment.
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Meet at the home a few days before you move in to go over all documents, your set of keys and ensure everything is in order.
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Our program will help you build your credit rating and save a minimum 5% down payment.
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After 2 years, we will begin reviewing where we are and look into qualifying you for a mortgage (this could take up to 5 years).