We have a customer that is currently renting the home they live in. They would like to purchase the home from their landlord and have requested a mortgage with us. They will continue to live in the home as their primary residence. Would ROR apply in this instance?

ROR would only come into play if they have acquired a partial interest in the property through a rent to own agreement or a contract for deed agreement.

Ok, that makes sense. Thank you for the quick response!

One other instance (just throwing it out for convo sake) would be if they used a HELOC as their method of financing the purchase.

When using a HELOC in addition to a mortgage (80-10-10), which ROR form do we need to use? If we use the one at account opening, it appears that we are giving them the right to rescind within 3 days of the purchase. If we use the one for future advancements, we don't have a date to put for the future advancement.

You need a combination form that says the initial advance is not rescindable but that the rescission notice is for future advances, and the date for the first advance cannot be sooner than the standard rescission period.