here are some basics about lease purchase (rent to own)The owner will require a non refundable deposit (usually 10%) Your monthly payment must be above market rent. The deposit and extra money is put into an escrow account. you agree to purchase at a specified time(usually 12 mos.) At the end of the term your escrow money is available to you for down payment. you take your down payment and go to a bank or mortgage lender and get financing and purchase at that point. it is much more expensive than just renting and the drawbacks are these: If you do not purchase at the specified time,you forfeit your escrow account. Also,you are locked in to the original purchase price,so if the homeloses value,it will not appraise and you will not get financed. This works well for people with credit issues but substantial income. it is very tricky so it is very important that you obtain a buyer agent to negotiate this for you & look out for your interests. do not try to handle this onb your own because you can really get burned if you are not careful.