Is this a loan or mortgage?

No. Requity Homes is not a lender and this is not a mortgage.

During the rent-to-own term, you are renting the home from Requity Homes — there is no interest rate, no loan, and no debt in your name. Your monthly payment is rent plus a fixed savings amount.

The goal of the program is to help you become mortgage-ready so that when you're ready to buy the home back from us, you can secure financing through a traditional bank or lender on your own terms.