What it is not
Rent to own is not a guarantee that you will buy, and it is not a mortgage. Your actual price, term, rent, and purchase terms are in the written agreement for that home, not promised on a phone call or on this page.
For rent to own buyers
Turned down by a bank? You may still qualify here.
A rent to own buyer, also called a tenant-buyer, lives in the home, pays rent, and works toward purchasing it before the term ends. Qualifying here is much easier than a bank mortgage, because there is no bank qualifying at move-in.
Bad credit does not automatically disqualify you. If a bank already turned you down, that does not automatically turn you down here. Your money toward the home is your commitment, it shows you are serious about buying, instead of a bank score deciding everything on day one.
STAY Homes screens and approves tenant-buyers, places them in a home, and stays in the deal through the term. This is not a random rental. You are working toward buying that home, and screening here is not bank qualifying.
Qualifying is different here
Qualifying is much easier than a bank
You are not applying for a bank mortgage at move-in. You are applying to STAY Homes to rent to own a home, and that qualifying is different, and much easier.
- No bank qualifying at move-in. No bank mortgage application, and no bank score deciding everything on day one.
- Turned down in the past? That does not automatically turn you down here. A bank turndown is a bank decision, not a rent to own decision here.
- Bad credit is ok. Bad credit, or credit you are still rebuilding, does not automatically disqualify you.
- Your down payment is your commitment. Money you put toward the home shows you are serious about buying it, instead of a score on a bank form deciding for you.
- Screening still applies. We still screen and approve every buyer, and we still need an honest budget and timeline, and rent kept current. The exact criteria and terms for a home are in its written agreement.
How it works for buyers
Four steps
- 1
Tell us what you need
Fill out the form below. Tell us your monthly budget and timeline to help us match you to a home that actually fits.
- 2
Get screened and approved
We screen and approve you before placement. Screening here is not bank qualifying, and not so great credit is OK.
- 3
Move in and work toward buying
Live in your new home, and use the time to build credit, save money.
- 4
Buy before the term ends
Once your situation has improved and you have built substantial equity, you have the choice to refinance with a traditional mortgage.
Is this a good fit for you?
This may fit if you are in one of these situations
- You were turned down by a bank, and you want a different kind of qualifying, with no bank qualifying at move-in.
- You have bad credit, or credit you are rebuilding, and you want that to not automatically disqualify you.
- You need time to qualify for a mortgage, and you want to live in the home while you get there.
- You need time to build credit or save, and renting a random place does not move you closer to buying.
- You found an area you want to stay in, and you want to lock in a home there while you prepare to buy it.
- You want a home, not just a rental, and you are ready to look after it like an owner would.
What we ask of you
Be honest about your budget and timeline, keep rent current, look after the home, and work toward the purchase during the term. If the numbers do not fit, we will tell you honestly.
What happens if you cannot buy in time?
That depends on the written agreement for that home, so ask about it before you sign anything. Do not sign a rent to own agreement, with us or anyone else, until you understand the end of term outcome.
Common questions
Questions rent to own buyers ask first
Do I need perfect credit?
No. Bad credit does not automatically disqualify you, and needing time to build credit is one of the main reasons people look at rent to own. Screening still applies, and the exact criteria are set out for each home.
Do I need a large down payment?
That depends on the home and the written agreement. Your down payment is your commitment, money you put toward the home shows you are serious about buying it. Tell us your budget in the form below, and we will be straight about whether a home fits it.
What if a bank already turned me down?
A bank turndown does not automatically turn you down here, because there is no bank qualifying at move-in. Screening here is different, and still applies, so tell us your situation honestly in the form below.
Is the rent higher than a normal rental?
It can be, because you are working toward a purchase, not just renting. The rent, term, and purchase price for a specific home are in its written agreement, so compare those numbers before you decide.
Who handles maintenance?
Under the S.T.A.Y. System, all payments and maintenance are covered while the agreement is in place, and the home is managed through the term. The exact maintenance terms for a home are in its written agreement.
Can I choose any home I want?
We match buyers to homes in the S.T.A.Y. System. Tell us the area and home you need in the form below, and we will tell you what is realistic.
Is this legal or financial advice?
No. This page explains rent to own in general terms. Have your own attorney or advisor review any agreement before you sign.
Get started
Tell us what home you are looking for
Your name, a way to reach you, and the area and budget you have in mind are required. Everything else is optional. Please do not include Social Security numbers, dates of birth, or bank account numbers.