Some prospective homeowners are having trouble saving for down payments and getting approved for mortgages. For them, a new plan allows them to live in the home they want while saving to buy it.
As Housing Wire reports, rent-to-own company Home Partners of America will rent properties to consumers with the goal of selling the property to them sometime in the future.
Home Partners of America works differently than other companies that operate single-family rentals by buying and renovating distressed properties. These rent-to-own homes are selected by the consumers, and tend to be higher-quality homes in better locations.
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