FAQ by customers about Rent to Own

Q. How much is the down payment?

An opening payment equal to 2 months’ rent is required for delivery of your building.

Q. Can I pay extra money down on the principal?

Since this is a true rent-to-own and not an installment sale, there is no principal to apply extra money to. Extra money received will only be applied to future payments.

Q. When is my first payment due?

Your first rental payment will be due 30 days after delivery of the building. We will send monthly invoices approximately 10 days before your due date.

Q. Can I add improvements to the inside or outside of the building?

Contact DMD Solutions at 573-897-4363 before making any changes to the building. Unauthorized changes may void the warranty.

Q. I would like to pay off my building, but I can’t afford the total payoff. Can I send it in 3 payments?

No. The payoff must be paid in 1 payment only.

Q. What is the interest rate on my payments?

There is no interest rate in a rent-to-own situation. You are simply renting on a month-to-month basis with a portion of your payment being applied toward the purchase of building.

Q. I was just laid off from my job. Can I refinance and get lower payments?

It is possible. Call our office to see if this option is available.

Q. Why doesn’t my payoff go down?

If your account is delinquent, any back rent due will be automatically added to your payoff.

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