Renters who want to own a home may lack a down-payment or solid credit needed to obtain a mortgage loan from a conventional lender. Rent-to-own properties may require the renter to fix certain items in the home or, in other instances, require the renter to make at least a year’s rental payments on time. Although specifics vary by rent-to-own lenders, it’s possible for renters to own a home when their ability to borrow from the bank or down-payment funds is restricted. Considerations Rent-to-own properties are likely to cost more than comparative properties available for outright purchase. It’s important to review the terms and conditions from the private lender to make…