Rent-to-Own Myths in Florida: You Don’t Need Perfect Credit
Rent-to-own (lease option) is often misunderstood. You might think you need 740 credit, a 20% down payment, or that it costs more than a regular mortgage. None of that is true with the M.J. Newell approach.
We build and finance new homes in LaBelle, Lehigh Acres, and Fort Myers with a clear, 12-month path to ownership. No hidden fees, no bait-and-switch.
See Our Rent-to-Own Homes
This is what your future home could look like. Our Rent-to-Own program lets you move into a brand-new home like this Emelia model while you build credit and save for your down payment. No perfect credit required; just stable income and a commitment to your future.
Myth 1: “I need perfect credit”
Reality: We prioritize stable income and on-time payments. Many buyers start with scores in the 580–640 range and reach mortgage-ready in 12–18 months.
- We review income consistency, not just the FICO number.
- On-time rent builds a positive history we can share with lenders.
- We give you a monthly checklist to track credit improvements.
Myth 2: “Rent-to-own is always more expensive”
Reality: Your monthly payment includes a rent credit that applies to your future down payment. It’s structured savings toward ownership, not wasted rent.
| Scenario | Standard Rent | Rent-to-Own | Equity you keep |
|---|---|---|---|
| Monthly payment | $1,900 | $2,050 | |
| Credit applied | $0 | $350 | $350 x 24 = $8,400 |
| Result | You leave with $0 | You arrive at closing with $8,400 | Equity ready for closing |
Myth 3: “The price will change later”
Reality: The purchase price is locked in your agreement. If the market rises, you keep the upside.
- Fixed price at signing.
- No surprise escalations.
- Clear timelines and milestones.
Myth 4: “Bad credit = instant rejection”
Reality: We focus on progress, not perfection. If you can follow the plan, we can guide you to closing.
- Pay on time, every time.
- Keep balances under 30% of limits.
- Avoid new debt during the lease term.
Your 12-month path with M.J. Newell Homes
- Month 0: Lock home + option fee (typically 3–5%).
- Months 1–3: On-time payments, credit clean-up, income docs organized.
- Months 4–9: Build rent credits, stay within spending plan, no new debt.
- Months 10–12: Lender pre-approval, appraisal, close on your home.
Need a deeper dive? Read our full guide: The Ultimate Guide to Rent-to-Own in Florida.
Required documents (simple and doable)
- ID + proof of income (pay stubs or 1099 statements).
- Last 2–3 months of bank statements.
- Proof of option fee funds.
- If self-employed: last year’s tax return + P&L.
Where we build
- LaBelle: larger lots, quiet living, quick access to Fort Myers.
- Lehigh Acres: commuter-friendly, value-driven pricing.
- Fort Myers corridor: fast-growing, strong amenities.
See how rent-to-own compares to a traditional mortgage: Rent-to-Own vs. Traditional Mortgage.
FAQs we hear every week
Can I start if I’m self-employed?
Yes. Show consistent deposits and a simple P&L. Many of our owners are contractors, landscapers, and small business owners.
What if I need more than 12 months?
We can set 18–24 months when needed. The key is hitting your milestones.
Will my payments report to credit bureaus?
We can provide payment history letters and, when eligible, use reporting partners to strengthen your file.
CTA: Start your pre-qualification
- Visit our Rent-to-Own hub: /rent-to-own
- Book a call: /schedule-appointment
- Prefer Spanish? Escríbenos y te ayudamos en tu idioma.
Your home is closer than you think. Let’s make the plan and get it done this month.
