Rent-to-own agreements are a great choice for aspiring homeowners who aren’t quite ready financially. They allow you to secure a home while taking time to improve your credit, organize your finances, and save for a down payment.

With a rent-to-own option, you can lock in the home you want to own and work toward ownership at your own pace.

In many cases, part of your rent or option money is applied toward the purchase price, allowing you to gradually build equity.