Rent-to-Own Programs
Rent now, buy later. Build equity through rent credits while you improve your financial readiness. Flexible path to homeownership in Philadelphia and surrounding counties.
Explore Your Path to Homeownership
Combine rent-to-own with other buyer resources for a complete home buying strategy.
First-Time Buyer Programs
Explore other programs for first-time buyers including PHFA, FHA, VA, and USDA loan options.
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Get Pre-Approved
Know your budget and strengthen your offer with a mortgage pre-approval letter.
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Mortgage Calculator
Estimate monthly payments and see what you can afford with our mortgage calculator.
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Find Available Homes
Search properties across all 6 counties that may offer rent-to-own options.
Learn MoreHow Rent-to-Own Works
Rent-to-own agreements combine a standard lease with a future purchase option.
- Pay an option fee: Typically 1-5% of the purchase price, securing your right to buy later. This fee is usually applied toward the purchase price.
- Sign a lease with purchase option: Each month, a portion of your rent goes toward the future down payment as rent credits.
- Build rent credits: Accumulate equity while you rent, making homeownership more accessible.
- Purchase the home: At lease end (typically 1-3 years), exercise your option to buy at the pre-agreed price.
Benefits of Rent-to-Own
- Lock in today's purchase price and benefit if values rise
- Test the neighborhood before committing to purchase
- Use the lease period to improve your credit score
- Build equity through monthly rent credits
- Lower upfront cash requirement than a traditional down payment
Is Rent-to-Own Right for You?
Rent-to-own is ideal if you need time to save, improve your credit, or want to test a neighborhood. It is popular in Philadelphia neighborhoods like Fishtown, Manayunk, and Fairmount, as well as suburban communities.
FAQ
Common Questions About Rent-to-Own
How does rent-to-own work?
You pay an option fee, part of your rent becomes rent credits toward the purchase, and you can buy at a pre-agreed price after the lease term.
Ask Smarty a questionWhat are the benefits of rent-to-own?
You lock in prices, test the neighborhood, improve your credit during the lease, build equity through rent credits, and need less cash upfront.
Ask Smarty a questionIs rent-to-own right for me?
It fits buyers who need time to save for a larger down payment, rebuild credit, or test a neighborhood before committing.
Ask Smarty a questionWhat happens if I decide not to buy at the end?
You may forfeit the option fee and rent credits, with the terms spelled out in your lease-purchase agreement, which John can explain first.
Ask Smarty a question
Answered by John Smart
AI-Certified Agent\u2122 with eXp Realty | PA License RS348332
Serving Philadelphia, Montgomery, Bucks, Chester, Delaware and Berks Counties
Interested in Rent-to-Own?
John Smart can explain the options, connect you with lenders who understand rent-to-own financing, and help you find the right property.