Lease Options -  Allcreditconsidered.com

What is a Lease Option?

It is an opportunity to “Rent to own” a house!

How does it work?

You fill out a credit application, which we then forward to a mortgage broker for review. Based on your credit history and income, we estimate if and when you will be eligible to purchase a home. We set up the length of a lease option based on that estimated time period. During the lease option period, you may need to build some credit or clean up some bad credit that you currently have. We can never guarantee that you will be eligible for a loan, but if you do the work necessary to clean up your credit , then we will do our best to help you purchase the home.

What about the money?

A down payment between three and ten percent of the purchase price will be required. This down payment comes off the purchase price when financing is arranged at the end of the lease option period. The lease payment is based on what we believe your monthly mortgage payment may be at the time of purchase. A portion of your monthly payment may or may not be applied to the purchase price. You can always pay extra each month to reduce the purchase price.

At the end of the lease option period, hopefully you will then get financing and purchase the property. Our goal is to enable you to be able to purchase the home in the shortest period of time.

Benefits of a Lease Option

• Provides buyers who have a history of credit problems with an opportunity to build good credit again and purchase a home over time.

• Allows a buyer to move into a home with a much smaller than normal down payment.

• Allows a buyer to STOP throwing rent money away every month!