Rent To Own Homes With Bad Credit

May 9, 2013 - PRLog -- Buying or renting a home is a big financial decision that will have a significant impact on a consumers budget.

Shopping around for a home loan or mortgage will help the consumer get the best financing deal. Home loans are available from several types of lenders which are commercial banks, thrift institutions, mortgage companies, and credit unions.

Lenders use credit scoring to help determine whether to grant the home buyer credit and to decide the terms they will offer or the rate the consumer will pay for the loan.

However, sometimes consumers are unable to qualify for a mortgage loan because of bad credit or they are unable to meet the income requirements. These consumers then look into rent to own homes or real estate leases with the option to purchase. This type of transaction can be both beneficial to the buyer and seller. It allows the buyer the ability to move into the home they want and time to repair their past credit problems and/or fix any income issues. It also benefits the seller because it allows them to get more potential buyers for their home in a tight real estate market.

A free consumer organization called "Bad Credit MD" has listed some useful tips and advice for both the buyer and seller that are interested in entering a rent to own home contract or lease with the option to purchase contract. This valuable information the includes the pros and cons of such a real estate transaction can be viewed at http://www.badcreditmd.com/mortgages/pros-and-cons-of-leasing-a-home-with-option-to-purchase/.

Bad Credit MD, is a free On-line consumer information guide that helps people with credit problems in Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.

Bad Credit MD has been in business helping consumers with bad credit since April of 2007 and is a subsidiary of Enticing Designs Publishing. The staff has various backgrounds in the financial and mortgage industry. Its staff has researched its information with various governments around the world to provide the most comprehensive and accurate information free of charge.