Most Rent to own homes sellers are OK with bad credit. What the sellers are mostly concerned about is your ability to pay now. So, a steady job is a good thing. Most home sellers will want a reasonable downpayment of around 2%-5% option fee plus the first months rent to move in.

The best place to find them is to do a google search for "rent to own homes Naples, Fl" or "rent to own homes [city, state]". "Lease to own" is another good term for your search. There you will find several websites and home listings for rent to own homes. Craigslist and Kijiji.com is another good site.

Tip: Make sure you get proof from the owner of the home that they are current on the mortgage before you give any money to them. We at http://www.EZHouseBuying.com qualify and make sure our house sellers are current on there mortgage before our rent to own home clients get involved in a contract and give money.

You might qualify for a loan, have you applied?

http://www.floridadreamloans.com/loanapplication

Hi Angela

Try Portifino on Vanderbuilt the rent is approx. $1300 for a three bedroom two bath. Good Luck

Skip

Hi Angela,

Most of the "lease to own", "lease options", etc benefit the seller. What I mean by this is that these options usually require a purchase and sale contract with a specific price, and non-refundable funds at time of contract and lease. You may find yourself out $$$ in the end. My suggestion is to rent for the time being, and work on repairing your credit at the same time. If you rent for a year, and for the first 6 months are working on repairing your credit, then you can have 6 months to look for a house and obtain financing. Many other people are in your same position, and I work with them all the time. Also, it is very possible that you may not Love the home that you are renting. And, kepp in mind, only 20% of lease purchase contracts actually purchase at the end of the lease. Try renting first, and we can work on your credit repair, and home purchase strategy in the meantime. Go ahead and search for a rental on my site.. http://.www.buyrentsellfl.com Give me a call or shoot me an email with any questions. jay@buyrentsellfl.com

Hi Angela,
You might want to check out the Owner finance options for your situation. The Realtor can help finding them. As far as where, I think there are opportunities everywhere for that in this market. And of course there is the lease option contract, where you'll lease the house for however long from the the seller (year or two) and then you finance in your name, it can be worked out that portion of the the money you pay towards the lease will go towards the down payment when you ready to finance. That is of course if you think your credit will get fixed while you're leasing, so you can qualify for the loan. You can also check out the hard money lending option, those companies tend to charge higher interest rates, but you get to finance in your name and don't forget that there is the tax credit if you are first time buyer.
See if you can find one in your area, or contact me and I'll refer you to the one I work with. Good luck and I hope this helps.
Sincerely,
Tony Syedin
Century 21 Shaw Realty
813-843-2389
tonysyedin@gmail.com

Hi Angela,

You might try credit repair first. Typically credit repair takes 4-6 months and during that time you can impliment new habits so that you will set yourself up for success long term with a new improved credit rating. I can assist you with credit repair and then you can speak with your favorite realtor and go straight for a purchase.
However, if you are looking for a rent to own program in your area, you might want to check with a local property management company and if they do not offer rent to own, then they probably know who does in your area! Good luck!

Check the local classifieds in the paper. Also, some real estate companies have listings that the owner is willing to do a rental/lease/option purchase for a specific amount of time usually, while you are in the process of correcting your credit situation, so you can get a loan at whatever the terms you agree upon,
when the purchase option comes due.