These Rent-to-Own Homes Programs Can Help You Get Into That House
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Alesandra Dubin, Contributing AuthorClose
Alesandra Dubin Contributing AuthorAlesandra Dubin is a lifestyle journalist and content marketing writer based in Los Angeles. Her vertical specialties include real estate; travel; health and wellness; meetings and events; and parenting. Her work has appeared in Business Insider, Good Housekeeping, TODAY, E!, Parents, and countless other outlets. She holds a master's degree in journalism from NYU.
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Jedda Fernandez, Associate EditorClose
Jedda Fernandez Associate EditorJedda Fernandez is an associate editor for HomeLight's Resource Centers with more than five years of editorial experience in the real estate industry.
For homebuyers who need time to save for a down payment or improve their credit before getting a mortgage, rent-to-own programs can offer another path toward homeownership. But finding a legitimate program with affordable terms can be challenging.
We listed national and regional rent-to-own programs and consulted an experienced real estate agent to help you compare your options. Here’s what to know about available programs, qualification requirements, and potential costs before deciding whether rent-to-own is right for you.
Step one: Talk to an expert
Connect with a top-rated local real estate agent who can help you navigate rent-to-own options near you.
Divvy
The Divvy program is best suited for move-in-ready, single-family homes. The company doesn’t purchase fixer-uppers or properties like condos or mobile homes.
Divvy is currently only buying “Divvy Ready homes” from their preset inventory list. You can browse approved homes in select cities in Arizona, Colorado, Texas, Missouri, Minnesota, Tennessee, Ohio, Georgia, and Florida.
“This helps us ensure the homes we buy are move-in-ready while giving our customers the best chance of buying their homes back at the end of their lease,” Divvy Homes co-founder and CEO Adena Hefets told HomeLight.
Divvy describes a free prequalification process that doesn’t affect your credit score. The company lists a minimum FICO score of 550 and requires income documentation, a photo ID, and a background check before approving a home-shopping budget.
Next, approved home shoppers can tour qualifying homes in Divvy’s operating markets with their real estate agent (if you don’t have one, you can go with one of Divvy’s partner agents). When searching online, the listings look similar to any other real estate website, but you’ll find important information like the starting rental price, down payment, and home price.
Once you select an eligible home from Divvy’s inventory, you can review the rental terms, upfront payment, and future purchase price. Divvy covers property taxes and homeowners insurance while it owns the home. If you eventually buy the property, you’ll be responsible for the costs associated with your purchase. You’ll pay your first month’s rent and make an initial savings contribution of 1% to 2% of the home’s value, which goes toward your future down payment.
During the lease, approximately 10% to 25% of each monthly payment goes toward your home savings. Combined with your initial contribution, these savings can help build a down payment for purchasing the home. The program is designed to help participants become mortgage-ready within three years.
The tenant can buy the home at any point during their lease with no penalty or fee. If the program participant chooses not to buy their home, Divvy will return their home savings, minus a relisting fee (2% of the home’s original purchase price).
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Landis
Founded in 2018, Landis is a real estate tech company that helps renters work toward homeownership through lease-to-own arrangements and financial coaching.
Landis currently operates in eight states: Alabama, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, and Tennessee. Prospective homeowners must first apply to the Landis program, which is 100% free and won’t affect your credit score. After that, their underwriting team reviews your financial documents to determine your approved home budget.
When you join the Landis program, you’ll be assigned a Client Advisor to help you through your homebuying journey. You have the option to choose your own real estate agent, but if you don’t have one in mind, Landis can connect you with one of their partner agents in your area.
When you find a home you like, Landis will make a competitive, all-cash offer on your behalf and pay all closing costs and fees. You’ll need to put down an initial deposit of 2% to 3% of the home’s price, which will contribute to your security deposit and savings for the down payment.
While renting the home from Landis, you’ll work with a Homeownership Coach to boost your credit score and save for a down payment. Your monthly rent is determined by the market value, but it can vary depending on the home’s purchase price and its location. When you’re ready, you can buy the home back, and Landis will assist you with the mortgage process.
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Local and regional programs
Williams advises that there may be an array of additional programs available to prospective rent-to-owners in their local areas. She suggests searching online to identify potential local programs — and even keeping your eyes peeled for billboards or other print advertisements.
Examples of local and regional rent-to-own programs include:
- Premier Realty of Georgia LLC (Georgia) – Suitable for prospective home buyers with low credit but good income, have good credit but no funds for down payment, or are getting their home offers rejected.
- LGI Homes (Texas and Florida) – Renters can opt into credit reporting, apply their security deposit toward a new LGI home, and end their lease without penalty when they close on a purchase.
- Trio (California) – The California Affordable Housing Agency partnered with Applied Residential through its Trio lease option financing program, which enables individuals to first lease a home with the option to purchase and then buy when they are ready for a mortgage.
- Fresh Start Homes AZ (Arizona) – Offers rent-to-own houses and condos in select communities for prospective homeowners to build their credit and purchase the home “in the shortest time possible.”
If you pair up with a national, regional, or local program that suits your needs, you might just find a rent-to-own home that puts you on the path to homeownership!
Header Image Source: (Aubrey Odom / Unsplash)
FAQs on rent-to-own programs
Blackstone acquired Home Partners of America in 2021 and began winding down its operations in 2024. Tricon Residential took over property management in January 2025, while existing residents retained the terms of their leases and purchase options.
Tricon Residential continues to honor Home Partners’ rent-to-own program, which aimed to provide those unable to secure traditional mortgages to have an alternative path to homeownership. According to Tricon Residential’s official website, “Your purchase option timing and pricing will remain the same through the end of your stated term,” should the renter choose to exercise their right to purchase option through Tricon.
Dream America discontinued its rent-to-own program in 2025, citing rising housing costs. The company now focuses on affordable rental housing and recommends that prospective buyers explore FHA, VA, and USDA mortgage options with a local lender.
A rent-to-own program allows tenants to rent a property with the option to purchase it at a later date. It combines a rental agreement with the option or obligation to purchase the property later. Depending on the agreement, a portion of the tenant’s payments may be credited toward the future purchase.
Depending on the rent-to-own program, tenants may pay an upfront option fee, additional monthly savings, or rent credits that can be applied toward a future purchase. At the end of the agreed-upon term, tenants can exercise their option to buy the property based on predetermined terms.
Rent-to-own programs provide several benefits. They allow tenants to test the property and neighborhood before committing to a purchase. It offers the chance to build credit and save for a down payment while renting. Additionally, it provides an opportunity for individuals with less-than-ideal credit to work toward homeownership.
Rent-to-own programs come with potential downsides. The purchase price is typically set at the beginning of the agreement, which means tenants may end up paying more if property values decline. If tenants don’t exercise their option to buy, they may lose the extra rent paid toward a down payment. Additionally, tenants may be responsible for repairs and maintenance during the rental period.
When considering a rent-to-own program, it’s crucial to review the terms and conditions carefully. Understand the purchase price, option fee, and the portion of rent allocated toward the down payment. Work with a real estate attorney or trusted advisor to ensure the agreement is fair and favorable. Assess your financial readiness and explore alternative financing options to make an informed decision.
Different programs have different requirements. Divvy requires a minimum FICO score of 550, while other programs may accept applicants with a minimum FICO score of 500. Reach out to the program of your choice to get their full and most up-to-date requirements.
The best website for rent-to-own homes for you will depend on your current situation. If you have a lower debt-to-income ratio, you might qualify for more programs. Meanwhile, if you have a less than stellar credit score or a lower monthly income, you can seek out government rent to own programs for low income families or rent-to own programs for bad credit. Check your options by searching “rent to own homes programs near me” and comparing the requirements for each one.
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