A: Rent-to-own is a type of agreement where you rent a property with the option to purchase it at the end of the rental term. This can be a good option for individuals who want to become homeowners but don't currently qualify for a traditional mortgage.

A: Rent-to-own works by allowing you to rent a property for a specified period of time, usually one to three years. During this time, you pay rent and have the option to purchase the property at the end of the rental term. The rental payments typically include a portion that goes towards the eventual down payment on the property.

A: Rent-to-own provides several benefits, including the ability to live in a property while working towards homeownership, the opportunity to build equity in the property over time, and the chance to improve your credit score and financial situation in preparation for a traditional mortgage.

A: Rent-to-own does come with some risks, including the possibility of the homeowner backing out of the agreement or the property not appraising for the agreed-upon purchase price. It's important to thoroughly understand the terms and conditions of the rent-to-own agreement and to work with a lawyer to ensure it's fair and legally binding. It's also important to carefully inspect the property and negotiate the terms of the agreement with the homeowner.