Rent to Own Homes

The Rent to Own program is perfect for a frustrated 1st Time Home Buyer or anyone else who can't compete with all the Cash Offers in the Florida Real Estate marketplace. You might be a 1st Time Home Buyer or maybe you're relocating to Florida or moving to a different Florida town due to work, maybe you're having family issues and you need to get away right now from where you currently live. Possibly you're just getting familiar with the new area and aren't sure if you want to buy a home or rent a home.This is a real good way to rent to buy a home and still use Down Payment Assistance!

Our Rent to Buy program also works well if you want to buy a home, but credit is an issue, and you need time to rebuild your credit.

Below is a brief overview of one Rent to Own option otherwise known as Rent to Buy Home. For a detailed explanation of how the Rent to Own Program works, including the Features and Benefits of the 2 largest programs in Florida, visit our sister site: You can fill out the form either on this page or at to get started

Minimum requirements from the Buyer are as follows:

Option #1

  • Minimum middle FICO credit score of 620 used to qualify for the Rent to Buy program.
  • When we get the property under contract please be prepared to pay 2-months Security deposit, plus the first month's rent.
  • Household must earn at least $60,000
  • Cannot be in an ONGOING Bankruptcy to qualify for the Rent to Own program.
  • Exercise your Rent to Buy Option on your rented house for the Pre-agreed purchase amount of money at any time during the 1-5 - year lease period.
  • Purchase and Lease amounts are established and disclosed BEFORE you sign the Lease with Option to Buy.
  • You can use the 2 months security deposit as part of your Closing Costs if/when you decide to purchase the property.
  • You can leave the property when the rental period is up and receive your 2-months security deposit back, provided there’s no damage to the property.
  • You pick the house in an approved subdivision on our MLS websites. We don't pick the house, you do!
  • The property must be in an area where the school ratings for the County school districts are over 50%, area of historically good appreciating properties, and a very minimum amount of felons and/or sex offenders in the area, other qualifications or subdivision restrictions may apply.
  • You begin the actual Rent to Own/Buy process by securing the home with a 2-month Security Deposit.
  • The security deposit amount is twice the monthly rent.
  • You will know what your future rent and future purchase price will be for the next 5-years before you financially commit to a 12 month lease.
  • You have to live somewhere, and all your committing to do is to pay rent on the home that you picked from MLS for the next 12 months. It is that simple! If you don't want to Rent to Buy, you don't have to!
  • Our very large Institutional Investor purchases the home through Mid Florida Realty and you move in about 45 days after we close on the property.
  • While you are leasing the Home, you can build your credit and save some money for the future Down Payment and/or Closing Costs over the next 12-60 months.
  • Your choice to exercise the Rent to Buy option at any time in the next 12 to 60 months. This benefits you because you're getting the Appreciation thats accruing on the property from the day you move in until you purchase the property!
  • You can later purchase the home using one of our Down Payment Assistance programs from either www.FloridaFirstTimeHomebuyer.Info or
  • Credit scores and special Conventional Financing guidelines may allow you to qualify for a Conventional Mortgage to obtain a 0% down payment assistance grant or loan and use your 2-months Security Deposit for Closing Costs.
  • Minimum middle FICO 5-4-2 score of 600 in the approved Florida Metro areas and 620 in Orlando.
  • The Investors qualifications is similar to a Mortgage companies "Debt to Income Ratio" maximum and is generally between 45%-50%, (Including your rent on the new house, which is very similar to the mortgage payment of what the new house would be.).
  • Minimum Household verifiable income is $60,000 per year.
  • Cannot be in an ONGOING Bankruptcy, but the Bankruptcy may have been Discharged in less than 2 years (Unlike a Government backed FHA, or Rural USDA loan, which both have 2-year waiting periods for any Bankruptcy that has been legally Discharged.).
  • You can Purchase the house for the pre-agreed amount of money at any time during the 1-5 year lease period. Future yearly Purchase price and Rent costs are established BEFORE you sign (each) 1-year lease with an Option to purchase.
  • You can leave the home when the rental period is up and receive your 2-month security deposit back, provided there is no damage to the property.
  • The Security Deposit can be used for Closing Costs if you Exercise your right to Purchase within the 5-year period.
  • Monthly Lease with Option to Buy prices are disclosed before signing the Lease with the Option to Buy agreements. There are No surprises, you are fully aware of your options in this Rent to Buy transparent process.
  • You have up to 5 years to either rent/lease the property or exercise the Lease with Option to Buy the property, or leave property.
  • Your refundable Security Deposit equals 2-months Rent, which you can use for your future Closing Costs when you are ready and able to purchase the property.
  • No pressure for you the Buyer, there isn't a typical stressful Offer process you have to go through like the Investor does when they purchase the house for you with their "Cash" offer.
  • You have the Option and Right to Purchase, In this Program #1, there is absolutely no financial obligation to buy the home if you decide it’s not for you.
  • You'll find that with this program, the monthly lease, property taxes, plus Renters insurance is pretty close to the what the actual Lender Financed mortgage payment will eventually be, once you decide to purchase the property. No surprises.
  • Qualification criteria and all Lease and Purchase Costs are explained for each property before you commit to sign the (1) Lease and (2) Option to Purchase. Your approved purchase and lease costs will depend on how much you qualify to spend every month for a mortgage or Rent. The equation is very similar to qualifying for Mortgage Loan.
  • The Monthly lease/rent payment is calculated for qualification purposes very similar, as if you were taking out a mortgage loan (with or without Down Payment Assistance).
  • Most of the acceptable properties are currently in our local MLS for sale. Please contact Mid Florida Realty to set you up to receive Multiple Listings Service in your area and qualify you for our Rent to Own Home program.

Florida Rent-to-Own Pre-Qualification Form

Due to the overwhelming popularity of this program, please help us expedite your approval by filling out the Pre-Qualification form below


Related Links

Rent to Own on FaceBook
Florida Down Payment Assistance
Florida First Time HomeBuyer
Real Estate Jobs
Mortgage Jobs