• Immediate Occupancy
  • Easier To Qualify For Than A Traditional Mortgage
  • Repair Your Credit While Living In The Home
  • You Can “Try Before You Buy”
  • Build Equity From The Beginning
  • A Path To Home Ownership Not Just Paying Rent

A Rent To Own Home or Lease Purchase Home can be an excellent solution for those who do not qualify for a traditional mortgage. Have you been denied a home loan for any of the following reasons?

  • Damaged Credit or No Credit
  • Good or Fair Credit but lack of a down payment
  • Self-Employed or Cash/Tip/1099 Income
  • Down Payments Too High
  • Foreclosure
  • Garnishments
  • Judgments

Many good people have had difficulties with their finances and sometimes resulting in Bankruptcy, foreclosure or garnishments. Also, the recent recession and mortgage crisis have made lenders very reluctant to lend money.

A Lease Purchase Option provides you with many features and benefits. The  most powerful one is the rate at which you accumulate equity. Compare any lender’s loan amortization schedule to most Lease Purchase contracts, and you’ll quickly see that the Lease Purchase contract wins hands-down. Moreover, the buying power of a Lease Purchase contract can quickly and easily land you a home that you would never qualify for the conventional way. *Fill out our form at the bottom of the page to get trained.

The Lease Option is a term that can also be referred to as the Purchase Option. This can be contained within the Rent To Own/Lease Agreement or exist as a separate contract. This provision stipulates typically the tenant/buyer’s right to purchase the home for a specified amount at the end of the lease period. There is usually a fee attached to this known as the Option Fee.

Although the Option Assignment Fee is paid at the beginning of the lease period, it should not be confused with a Rental Security Deposit. The Option Fee is a fee paid for the right to purchase the home. It is not refundable. In some cases, it may work as a credit towards the purchase price of the house. *Fill out our form on the right of the page to get qualified.

In many cases, Rent To Own Agreements will contain a provision that designates a portion of the monthly rental payment as a credit towards the purchase of the home. This amount varies and can be as high as 20% of the fee.

The advantage to the tenant/buyer comes from building equity in the home during the lease period, and usually at a faster rate than a standard mortgage. It is important to note that if the option to purchase the house does not pull through, the credit is lost. At the end of the lease, the tenant becomes a buyer and is required to secure financing to purchase the home. In this example, the buyer would pay the purchase price less the accumulated monthly rental credits.

Keep in mind that if you do not purchase the home at the end of the lease period, you will lose your Monthly Rental Credits.  At this time your credit must allow for you to qualify for a mortgage. Considering this fact, it may be an advantage to monitor your credit through a reputable and established credit repair resource.


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