Finding the right neighborhood is crucial when choosing a rent-to-own home in Florida. With its diverse cities, beautiful beaches, and fast-growing housing market, Florida offers a variety of neighborhoods suited to all lifestyles. Whether you’re looking for a bustling urban area, a peaceful suburban enclave, or proximity to top schools and amenities, the Sunshine State has it all.
In this blog, we’ll explore the best neighborhoods for rent-to-own homes across Florida, highlighting key areas based on affordability, amenities, and long-term growth potential.
The rent-to-own option is increasingly popular for Floridians who are not yet ready to commit to a traditional mortgage. With rent-to-own, you can live in the home while a portion of your rent payments goes toward purchasing the property. This option gives potential buyers time to save for a down payment and improve their credit score before securing a mortgage.
Additionally, Florida’s housing market continues to grow, making rent-to-own an appealing solution for those looking to lock in a home now, while gradually working towards ownership.
Here are some of the best Florida neighborhoods that offer great rent-to-own opportunities:
Lake Nona in Orlando is an ideal neighborhood for families and young professionals seeking rent-to-own options. Known as a “Medical City”, Lake Nona offers high-quality health facilities, research centers, and strong employment opportunities. The area is booming with new developments, parks, and top-rated schools, making it a popular choice for families and health professionals alike.
Resource:
Explore available rent-to-own homes in Orlando on Zillow.
Westchase is a master-planned community located in the Tampa Bay area, known for its family-friendly vibe and well-maintained amenities. With a variety of shopping centers, restaurants, and outdoor activities, Westchase provides the perfect balance of suburban living and easy access to Tampa’s urban core.
Resource:
For Tampa-specific rent-to-own listings, check Rent-to-Own Labs.
Located southwest of Downtown Miami, Kendall is a diverse and thriving suburban neighborhood. With its proximity to Miami’s bustling city center and strong employment market, Kendall is an attractive area for those seeking rent-to-own opportunities. The neighborhood features a wide variety of schools, parks, and shopping malls, providing plenty of conveniences for families and professionals.
Resource:
Find rent-to-own homes in Miami on RentOwn.net.
San Marco is one of Jacksonville’s most historic and trendy neighborhoods. With its mix of charming bungalows, waterfront homes, and upscale dining, San Marco appeals to both young professionals and families. Its proximity to downtown Jacksonville makes it an excellent option for those looking to live near the city while enjoying a more laid-back community atmosphere.
Victoria Park is one of Fort Lauderdale’s most desirable neighborhoods, known for its tree-lined streets, walkability, and proximity to both downtown and the beach. Its historic homes and newer developments provide a mix of housing options, making it a prime location for those seeking rent-to-own properties. With easy access to Fort Lauderdale’s downtown and major highways, Victoria Park is perfect for those looking for a balance of work and leisure.
Located in the heart of St. Petersburg, Historic Old Northeast is a charming neighborhood with tree-lined streets, brick roads, and historic architecture. Its proximity to downtown St. Pete, the waterfront, and local cultural spots make it a favorite for young professionals and families. The neighborhood is known for its community feel, making it one of the top areas for rent-to-own homes.
Resource:
Discover St. Petersburg rent-to-own homes through HomeFinder.
Located on Florida’s Gulf Coast, Cape Coral is one of the most affordable and family-friendly neighborhoods in Florida. It’s known for its extensive network of canals, boating lifestyle, and access to great schools. Cape Coral offers a variety of rent-to-own options with waterfront views and access to the best that Southwest Florida has to offer.
When considering a rent-to-own home, it’s important to evaluate:
Rent-to-own homes offer a flexible path to homeownership, and Florida has some of the best neighborhoods to choose from. Whether you’re looking for the bustling excitement of Orlando or the laid-back coastal vibes of Cape Coral, there’s a neighborhood in Florida to match your lifestyle and budget. By choosing the right neighborhood, you can build equity in a home while preparing for long-term financial stability.
Start Your Rent-to-Own Journey Today
Interested in exploring rent-to-own homes in Florida? Visit Lease2OwnAHome.com to view available listings and learn how to make the most of rent-to-own opportunities.
Rent-to-own is a flexible and accessible way to secure your dream home in some of Florida’s most sought-after neighborhoods.
Ready to make your homeownership dreams a reality in Fort Myers? Contact us today to get expert guidance through every step of the homebuying process! Visit Rent to Own a Home, LLC or call us at +1 877-569-6460 to schedule your Home Buyer Consultation and take the first step toward owning your dream home
Struggling with a low credit score can feel like a barrier to achieving homeownership, but in Florida, rent-to-own programs offer a unique solution. Not only do these programs provide a pathway to buying a home, but they also give you the time and opportunity to improve your credit score while working towards homeownership. In this blog, we’ll explore how you can leverage rent-to-own programs to boost your credit and secure your dream home in Florida.
A rent-to-own agreement allows you to rent a home for a set period with the option (or obligation) to buy it later. Part of your rent payments goes toward the home’s purchase price, helping you build equity while you rent. Rent-to-own programs are especially valuable for individuals with credit challenges, as they provide time to improve your financial situation before taking out a mortgage.
Many Floridians are drawn to rent-to-own homes because they offer flexibility for those with less-than-perfect credit. Here’s how you can improve your credit score with a rent-to-own program:
Unlike traditional home purchases where a mortgage approval is required upfront, rent-to-own agreements allow you to move into your future home while giving you time to repair your credit. Rent-to-own contracts typically last 1-3 years, providing a window to improve your credit score by:
This timeframe can be especially helpful if you’ve recently experienced credit difficulties but are working to rebuild your score.
Resource:
Use Experian’s Free Credit Monitoring to track your credit score and get insights on how to improve it during the rent-to-own period.
In a rent-to-own agreement, your monthly rent payments could positively impact your credit score, especially if they are reported to credit bureaus. Some rent-to-own programs automatically report your payments, which can help build a positive payment history—a crucial factor in improving your score.
To maximize this benefit:
Rent-to-own programs typically involve rent credits, where a portion of your monthly rent is applied to the future purchase price of the home. This arrangement helps you save for a down payment while building equity in the property. By the end of the lease period, you’ll have a larger down payment ready, which may improve your chances of getting a favorable mortgage rate when it’s time to buy.
This not only enhances your financial position but also reduces the amount of loan you need, potentially lowering interest rates. A lower loan amount and better interest rates can both contribute to long-term financial stability and improved credit.
Rent-to-own gives you the breathing room to focus on improving your credit without the immediate pressure of securing a mortgage. During the rent-to-own period, you should avoid activities that could harm your credit, such as:
By staying financially disciplined, you’ll be in a much stronger position when it’s time to apply for a mortgage at the end of your lease term.
Many rent-to-own programs partner with or recommend credit counseling services to help you improve your credit score. These services can guide you on debt repayment strategies, budgeting, and managing credit responsibly. Working with a credit counselor during your rent-to-own period can help you fix past issues and build a positive credit profile.
Resource:
Check out Credit.org for credit counseling services and personalized plans to improve your credit.
If you’re in a rent-to-own program and aiming to boost your credit score, here are actionable steps to take:
By the time your rent-to-own agreement ends, you could see a significant improvement in your credit score, making it easier to qualify for a mortgage. The combination of regular, on-time payments and focused credit repair can help you secure a better interest rate on your loan, saving you thousands over the life of the mortgage.
In Florida’s competitive real estate market, having an improved credit score gives you a major advantage when it’s time to purchase a home.
If you’re facing credit challenges but dream of owning a home, rent-to-own programs in Florida can be the ideal solution. They provide the flexibility to improve your credit score while allowing you to move into your future home right away. With careful financial planning, consistent payments, and a focus on credit repair, you’ll be in a strong position to secure a mortgage when the lease period ends.
Start Your Rent-to-Own Journey in Florida
Interested in exploring rent-to-own options? Visit Lease2OwnAHome.com to find available properties and take the first step toward homeownership in Florida.
By taking advantage of rent-to-own opportunities and focusing on credit repair, homeownership can be within reach, no matter your current financial situation.
Ready to make your homeownership dreams a reality in Fort Myers? Contact us today to get expert guidance through every step of the homebuying process! Visit Rent to Own a Home, LLC or call us at +1 877-569-6460 to schedule your Home Buyer Consultation and take the first step toward owning your dream home
Buying a home in Florida can be challenging if you have credit issues. Traditional mortgages often require a strong credit score and financial standing, which can feel out of reach for many people. But there’s hope—rent-to-own offers a path to homeownership even if your credit is less than perfect. In this blog, we’ll dive into how rent-to-own homes in Florida can help you overcome credit challenges and achieve your dream of owning a home.
A rent-to-own agreement allows you to rent a home with the option to purchase it at the end of the lease. During the rental period, a portion of your monthly rent is applied toward the eventual down payment. This option is particularly beneficial for people who need time to improve their credit or save for a traditional mortgage.
In Florida, rent-to-own agreements are becoming increasingly popular, especially in competitive markets where buyers face high home prices and strict lending standards.
When you apply for a mortgage, lenders look closely at your credit score. A score below 620 can make it difficult to secure a mortgage, and if you do qualify, you’ll likely face higher interest rates. For many people with credit challenges, getting a loan approval can feel impossible.
Common credit challenges include:
If you’re facing these hurdles, a rent-to-own home in Florida may be the solution you need.
Rent-to-own agreements offer flexibility for individuals who need time to improve their credit score. Here’s how:
Rent-to-own agreements usually last between one to three years. During this time, you can focus on improving your credit by paying down debt, avoiding late payments, and managing your finances better. This period allows you to get your credit score in shape so you can qualify for a mortgage when it’s time to buy the home.
Pro Tip:
Use tools like Credit Karma to monitor your credit score regularly and get personalized recommendations for improvement.
In a rent-to-own agreement, a portion of your rent goes toward the purchase price of the home, known as rent credits. This allows you to slowly accumulate a down payment over time, reducing the financial pressure of saving up a large sum at once. The rent credits can help you build equity in the property even before you officially own it.
One of the biggest benefits of rent-to-own is that you don’t need to qualify for a mortgage right away. This gives you breathing room to work on your finances without the stress of securing a home loan. When the lease ends, if you’ve improved your credit and financial standing, you’ll be in a better position to qualify for a mortgage.
Helpful Resource:
Consider using MyFICO’s Mortgage Calculator to estimate what your mortgage payments could look like once your credit improves.
When you sign a rent-to-own agreement, the future purchase price of the home is often locked in. This means that if the home’s value increases during your rental period, you’re still entitled to buy it at the agreed-upon price. This is especially valuable in Florida, where home prices have been rising steadily.
Rent-to-own allows you to ease into the responsibilities of homeownership. During the rental period, you’ll likely be responsible for minor repairs and maintenance, giving you a taste of what it’s like to own a home. This gradual transition can help you prepare financially and mentally for the long-term commitment of homeownership.
Here are some actionable steps you can take to improve your credit while renting-to-own:
Rent-to-own may be the right option for you if:
In competitive markets like Florida, rent-to-own offers a unique opportunity to get into a home while you work on improving your financial standing.
Rent-to-own is an excellent option for Floridians facing credit challenges. It provides a flexible path to homeownership, allowing you to improve your credit, save for a down payment, and ease into the responsibilities of owning a home. If you’re willing to commit to improving your financial standing and have a desire for homeownership, rent-to-own may be the perfect solution.
Explore Rent-to-Own Options in Florida
Ready to start your journey toward homeownership? Visit Lease2OwnAHome.com to learn more about available rent-to-own properties and how to get started.
By addressing your credit challenges and utilizing the benefits of rent-to-own, you can make homeownership a reality, even if you’re not ready for a traditional mortgage today.
Ready to make your homeownership dreams a reality in Fort Myers? Contact us today to get expert guidance through every step of the homebuying process! Visit Rent to Own a Home, LLC or call us at +1 877-569-6460 to schedule your Home Buyer Consultation and take the first step toward owning your dream home
Are you trying to decide between a traditional mortgage or a rent-to-own home in Florida? The decision between these two paths depends on several factors, including your financial situation, readiness for homeownership, and long-term goals. In this detailed guide, we’ll compare the pros and cons of both options to help you make an informed decision.
A rent-to-own home is an agreement where you rent a property with the option to buy it at the end of a lease period. A portion of your rent may be applied to the future down payment, allowing you to build equity while renting.
This option is ideal for potential homebuyers who:
A traditional mortgage is a home loan provided by a bank or lender that allows you to purchase a home outright, paying off the loan in monthly installments over 15-30 years. This path requires a strong financial standing, a good credit score, and a sizable down payment.
Mortgages are ideal for individuals who:
Let’s break down the key factors you should consider when choosing between rent-to-own and a traditional mortgage in Florida.
Choosing between rent-to-own and a traditional mortgage depends on your current financial situation and long-term homeownership goals. Here’s a quick summary to help you decide:
Deciding between rent-to-own and a traditional mortgage is a significant choice that depends on your financial readiness, credit score, and homeownership goals. Rent-to-own offers flexibility and time to improve your finances, while a mortgage provides a faster path to owning a home and building long-term equity.
Whichever path you choose, make sure to carefully evaluate your options and consult with a real estate professional to ensure you’re making the best decision for your future.
For more guidance on rent-to-own homes in Florida and to explore available options, visit Lease2OwnAHome.com.
By considering these factors, you can confidently decide which path to take toward homeownership in Florida.
Ready to make your homeownership dreams a reality in Fort Myers? Contact us today to get expert guidance through every step of the homebuying process! Visit Rent to Own a Home, LLC or call us at +1 877-569-6460 to schedule your Home Buyer Consultation and take the first step toward owning your dream home
Rent-to-own homes in Florida are a fantastic option for people who want to transition from renting to homeownership but aren’t quite ready for a traditional mortgage. But how do you know when you’re ready to take that step? In this article, we’ll explore five key signs that indicate you’re prepared to start your journey toward owning a rent-to-own home in the Sunshine State.
A reliable source of income is the first indicator that you’re ready for a rent-to-own home. A steady income ensures that you can make monthly rent payments and contribute toward the eventual purchase of the home. Unlike traditional renting, a portion of your monthly payment in a rent-to-own agreement is often set aside as a future down payment, known as rent credits.
Why it matters:
Landlords or sellers in rent-to-own agreements often require proof of consistent employment before approving your application. So, if you’ve been in the same job for a while or have a stable source of income, you’re in a strong position.
Pro Tip:
Use online tools like NerdWallet’s Income Calculator to evaluate your earnings and determine how much rent you can afford comfortably.
Rent-to-own homes are particularly appealing for individuals with less-than-perfect credit who want to work on improving their financial standing while renting. If you’ve been diligently paying off debt, avoiding late payments, and working on building your credit score, this could be a major sign that you’re ready for a rent-to-own home.
Why it matters:
While rent-to-own agreements are more flexible in terms of credit score requirements compared to traditional mortgages, having a score above 580 will make the process smoother. Many sellers will also want to ensure that you can qualify for a mortgage when it comes time to buy the home.
Helpful Tool:
Consider using Credit Karma to keep track of your credit score and receive personalized advice on how to improve it.
Transitioning to a rent-to-own agreement requires a commitment to buying the home eventually. Unlike regular renting, this path means you’ll likely be buying the property after the lease period. If you’re emotionally and financially ready to take on the responsibilities of owning a home, including maintenance and property taxes, then you’re ready for rent-to-own.
Why it matters:
Homeownership is a long-term investment that requires financial discipline, planning, and responsibility. Rent-to-own gives you time to get accustomed to the idea while making progress toward your goal.
Ask Yourself:
One of the key components of qualifying for a rent-to-own home is having enough savings for the option fee. This upfront payment, which typically ranges between 1% and 5% of the home’s purchase price, secures your exclusive right to buy the property in the future. If you’ve managed to save up for this fee, it’s a strong indication that you’re financially ready for a rent-to-own agreement.
Why it matters:
The option fee ensures that the seller won’t sell the property to someone else during the rental period, giving you time to improve your financial standing before purchasing. It also shows that you’re serious about owning the home.
Pro Tip:
Use Bankrate’s Savings Calculator to help you track and achieve your savings goals for the option fee.
Before signing a rent-to-own contract, it’s crucial to fully understand the terms and obligations that come with it. This includes knowing the length of the lease, the purchase price of the home, how rent credits work, and what happens if you decide not to buy the home. If you’ve taken the time to educate yourself about these agreements and feel confident in your ability to commit, then you’re ready.
Why it matters:
Misunderstanding the terms could lead to financial losses, including losing your rent credits and option fee if you don’t follow through with the purchase. Being informed ensures you’re making a smart financial decision.
Get Expert Help:
Consider consulting a real estate attorney or using resources like Rocket Lawyer to review the agreement before signing.
If you recognize these five signs in your life, you may be ready to pursue a rent-to-own home in Florida. Having a steady income, improving your credit, saving for the option fee, and understanding the agreement are all critical steps toward achieving your dream of homeownership.
Remember, rent-to-own homes provide a flexible and accessible path to owning your own property, especially if you’re not quite ready for a traditional mortgage.
Take the Next Step
Explore more about rent-to-own homes and find helpful resources at Lease2OwnAHome.com.
By following these guidelines, you’ll be in a better position to make informed decisions and start your journey toward homeownership in Florida.
Ready to make your homeownership dreams a reality in Fort Myers? Contact us today to get expert guidance through every step of the homebuying process! Visit Rent to Own a Home, LLC or call us at +1 877-569-6460 to schedule your Home Buyer Consultation and take the first step toward owning your dream home
Buying your first home can be overwhelming, especially in Florida’s competitive real estate market. However, the rent-to-own option offers a pathway that provides flexibility, financial advantages, and time to prepare for homeownership. In this blog, we’ll explore why rent-to-own is the best option for first-time homebuyers in Florida, breaking down how it works, the benefits it offers, and tips for making it work for you.
The rent-to-own process allows potential homeowners to rent a property with the option to purchase it later. This is an ideal solution for first-time homebuyers in Florida who may not have the financial readiness or credit history to secure a mortgage immediately. Here’s how it works:
For a more in-depth look at how rent-to-own agreements work, check out our Complete Guide to Rent-to-Own in Florida.
Rent-to-own arrangements offer several advantages, making them particularly appealing for first-time homebuyers in Florida:
Many first-time buyers are hindered by low or insufficient credit scores, which can make it challenging to qualify for a mortgage. Rent-to-own offers time to improve your credit while you live in the home you plan to purchase. By making timely rent payments, you demonstrate financial responsibility to future lenders.
For more on how to improve your credit score for homeownership, visit our Credit Score Improvement Guide.
Florida’s real estate market is known for its fluctuations, with prices often increasing year after year. Rent-to-own agreements allow you to lock in the purchase price when you sign the contract, even if the home’s value appreciates over time. This is a significant benefit in high-demand markets like Miami, Tampa, and Orlando.
Explore more about Florida Real Estate Market Trends.
Saving for a down payment is one of the biggest hurdles for first-time homebuyers. A rent-to-own contract gives you time to save while living in the home. Some agreements also allow a portion of your rent to be applied as a credit towards the down payment, easing the financial burden.
Learn more about How Rent Credits Work in Rent-to-Own Contracts.
Rent-to-own agreements provide flexibility for first-time buyers who may not have enough savings or credit history to get a mortgage right away. Here’s why:
Unlike traditional home purchases, which require a hefty down payment and closing costs, rent-to-own agreements typically require only an upfront option fee (1%-5% of the home’s purchase price). This lower financial commitment gives first-time buyers more time to gather funds for the full purchase.
First-time homebuyers often face challenges with mortgage approval due to insufficient credit history or income verification. Rent-to-own allows you to move into the home while you improve your financial profile, giving you time to work on qualifying for a mortgage.
One of the most attractive features of rent-to-own is that you can start enjoying the benefits of homeownership while renting. Here are some advantages:
Unlike a traditional rental, many rent-to-own contracts allow you to make improvements to the home. Since you’ll likely own the property in the future, investing in upgrades—such as painting, landscaping, or remodeling—is an opportunity to increase the home’s value.
With a portion of your rent going towards the purchase price, you start building equity before you even own the home. This is a unique feature that rent-to-own provides, allowing you to make progress towards ownership while paying rent.
For more details on the benefits of building equity early, check out Rent-to-Own: How It Builds Equity Over Time.
Florida’s housing market can be highly competitive, particularly in metropolitan areas like Miami and Tampa. Rent-to-own offers a solution for buyers who may struggle to compete with cash buyers or those with pre-approved mortgages. By locking in a property through a rent-to-own agreement, you can avoid bidding wars and secure your future home.
Explore our guide on Navigating Florida’s Competitive Housing Market.
During the rent-to-own period, it’s essential to prepare for securing a mortgage by the end of the lease. Here are key steps:
Continue improving your credit score by paying bills on time, reducing debt, and regularly checking your credit report for errors. Aim for a credit score above 620 to qualify for most mortgage programs.
Start researching mortgage options well before your lease ends. Consider FHA, VA, or conventional loans, depending on your financial situation and eligibility. First-time buyers in Florida may also qualify for state or federal assistance programs.
For more information on mortgage programs, visit Florida Mortgage Options for First-Time Buyers.
For first-time homebuyers in Florida, the rent-to-own option offers flexibility, financial advantages, and the chance to secure homeownership without the immediate need for a large down payment or perfect credit. By following this pathway, you can enjoy the benefits of living in your future home while working on your financial readiness.
For more tips, guides, and resources on navigating the rent-to-own process, visit Lease2OwnAHome, your trusted resource for rent-to-own opportunities in Florida.
Q: How much of my rent goes toward the home purchase?
A: Typically, 10% to 20% of your rent payment is credited toward the home’s purchase price, but this depends on the terms of your rent-to-own agreement.
Q: Is rent-to-own a good option for those with low credit?
A: Yes, rent-to-own is ideal for individuals with low credit scores because it allows time to build or improve credit before applying for a mortgage.
Q: What happens if I can’t qualify for a mortgage at the end of the lease?
A: Some agreements allow for an extension of the lease period, but if you’re unable to qualify for a mortgage, you may forfeit your option fee and any rent credits.
Q: Can I make home improvements during the rental period?
A: In most rent-to-own agreements, you can make improvements, as you are likely to own the home eventually. However, check your contract for specific terms regarding renovations.
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Ready to make your homeownership dreams a reality in Fort Myers? Contact us today to get expert guidance through every step of the homebuying process! Visit Rent to Own a Home, LLC or call us at +1 877-569-6460 to schedule your Home Buyer Consultation and take the first step toward owning your dream home
Are you dreaming of owning a home but finding the traditional home-buying process difficult to navigate? Rent-to-own programs offer a flexible pathway to homeownership, especially in competitive real estate markets like Florida. In this guide, we’ll break down how rent-to-own works, the pros and cons, and what renters in Florida should consider before entering into such an agreement.
Rent-to-own, also known as lease-to-own, is a housing arrangement where you rent a home with the option to purchase it at the end of the lease term. Part of your monthly rent is often applied toward the future down payment, helping you build equity over time.
Rent-to-own agreements typically come in two forms:
Rent-to-own can be a smart choice for those who aren’t ready to buy immediately due to insufficient savings or a low credit score but are committed to becoming homeowners.
Rent-to-own agreements in Florida follow a straightforward process. Here’s a step-by-step guide:
Florida has no specific laws governing rent-to-own contracts, so it’s essential to have a clear and legally binding agreement in place. Both parties should be aware of their rights and responsibilities. Always consult a real estate attorney to ensure the contract is in your best interest.
Additionally, if the home has a mortgage, it’s important to verify that the mortgage lender allows rent-to-own agreements. Some lenders may have restrictions that could complicate the transaction.
Rent-to-own can be a great solution for renters looking to transition to homeownership, especially in Florida’s competitive housing market. However, it’s essential to evaluate your financial situation carefully and work with experienced professionals before committing to an agreement.
Here are a few key questions to ask yourself:
Rent-to-own offers an alternative path to homeownership in Florida, allowing renters to lock in a purchase price and build equity over time. While this arrangement has its benefits, it’s crucial to thoroughly understand the terms of the contract and assess your long-term financial goals.
For more guidance on transitioning from renting to owning, check out our Rent-to-Own Program and start your journey toward homeownership today.
By understanding the ins and outs of rent-to-own agreements, you can make an informed decision about whether this path is right for you!
Ready to make your homeownership dreams a reality in Fort Myers? Contact us today to get expert guidance through every step of the homebuying process! Visit Rent to Own a Home, LLC or call us at +1 877-569-6460 to schedule your Home Buyer Consultation and take the first step toward owning your dream home
Rent to Own a Home LLC is committed to helping renters transition into homeowners. Our unique program guides you every step of the way, making the journey to homeownership simple and stress-free
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