Rent-to-Own homes are getting more popular. Is it a good option?

Today, on "Today in Mortgages," we discuss renting to own your home and whether it's a good idea. This rising trend is used as a stepping stone to home ownership. The nice thing about renting to own, is you negotiate the purchase price today. In markets where prices are ever increasing, you can lock the price in today. A portion of your payment goes into escrow as savings toward a downpayment. This option isn't for everyone: If you can afford to buy, just buy. Usually those who choose this option have some credit work, and need to build up their savings.As mortgage professionals, we need to make sure we know how to explain this option to our borrowers. We want to coach them so that they can succeed and get into the home they want!See more at TodayInMortgages.comWant to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here. Learn more about Network Funding on our parent site. Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.