“There are many benefits to a rent to own agreement when it’s done with a reputable company like RentToOwnChi.com. We’re with you all along the way during the process. Read below to see how the process works!”

– RentToOwnChi.com

How Does A Lease With Purchase Home Agreement Work?

The rent to own process is actually pretty simple.

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)
We’ll send you local Chicago rent to own / lease option homes that fit your criteria.
If you like a home and want to apply, we’ll give you an application to fill out. 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.
After you’re approved to rent the property, we’ll agree on a monthly rent amount and the future purchase terms. Then just sign the documents and move on in!
Move in and pay your rent payments on-time… then at the end of the rental agreement you can decide if you want to purchase the home or not.

THERE IS NO OBLIGATION to purchase the home after the rental agreement expires.

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 3 years, but in certain circumstances we may extend your option if you need more time to get your credit or down-payment 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 Chicago just by filling out the form on the upper right of this page.

*DISCLAIMER: Real Brokers is a licensed Real Estate Brokerage with a principal office in Chicago, IL and abides by all applicable Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only, is compiled from sources deemed reliable, but is subject to errors, omissions, and changes without notice. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of Real Estate Brokerage.

LEGAL DISCLAIMER: Rent To Own refers to properties for sale with lease-option financing. This site does not charge for rental listings and is not a Pre Paid listing Service.

Terms of credit during rental period dependent on agreement with homeowner. Terms of credit may affect ability to qualify for home loan at end of lease period.