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Rent or Rent to Own?

I work in New Berlin, but currently live more than 1 hour away. I am currently paying $850 in rent. Since I'm spending more than $400 on my monthly commute I would like to move closer to work when my current lease is up in June. I have good credit, but no money for a down payment. I know next to nothing about Rent to Own, but wonder if that is something I should look in to, or if I should just look for a rental unit and save my commuting money for a year or two before looking.

Liz
  • January 14 - New Berlin
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Answers (3)

There are a few loan options for 0 down.  USDA loans can be 0 down however the service areas can be limiting.  Also there are some cities and counties that have grant money available depending on your income levels.  You can do a search for "first time homebuyers" in your area to see if something comes up.  Or feel free to contact me for some guidance. 
  • January 14
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Profile picture for wetdawgs
If you have no down payment, you aren't ready for rent to own either.    Plan on a 5 to 30% down payment for rent to own.   Plan on monthly rent being more than fair market rent, with only the difference going to the purchase.

  • January 14
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There are options for no money down loans if you have good credit. I have a few lenders that can help
  • January 14
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