If the option period expires before you qualify for a mortgage, the seller no longer has an obligation to sell you the rent to own home.
It is VERY important to speak to a mortgage specialist before (or during) your home search in order to gauge how long it will take for you to qualify for the home mortgage.
Imagine moving into a rent to own home with a 12 month option agreement, then later finding out that you are unable to qualify for a loan for 2 years or longer!
This is especially true if you have recently encounter any of the following:
To learn more about the research we recommend before signing a contract for a rent to own home, check out our 4 Steps to a Successful Rent to Own guide now.