I'm taking this question from an high volume active sub and thought it would be worth addressing here if you're a year out from buying a home:

So my boyfriend and I are in a year long 'rent to own' agreement with our friends who are selling. Come September 2026 we'll need to have a mortgage arranged; we have very little idea of how to even begin undergoing the process. First step is to pre-qualify for a loan, yes? Please explain to me like I'm five. Thank you!

First - Yes, speak with a mortgage loan officer. I'd do that as soon as possible.

If your rent to own agreement allows you to replace the current financing with your own, before September 2026, then you might as well do it now.

There are things that could happen between now and then that could push you in and out of qualifying.

Pretend you push it off to the last second, and you lose your job.

You wouldn't qualify for a mortgage, and your agreement might require to obtain your own financing by September.

This may cause you to lose the house, even though you'd likely qualify for the mortgage once you get a new job.

Or say you're considering starting a business.

You might be very successful on the get-go, but by making the switch from salary to self-employed, you may be pushing yourself out of qualification for a mortgage.

There's a blip where you don't qualify for a mortgage, but usually you can recover.

Don't let that blip land on the moment you're trying to qualify, at the last second.

Talk to a loan officer to see if you qualify, or see what you have to do to qualify.

You don't need a real estate agent, as you've already found the home. But a real estate attorney might be helpful to understand this 'rent to own' agreement you're currently in.

Summary: talk to professionals ASAP and don't put it off.