Lease Option Program
With 3-5% down as an Option payment, you can qualify for our Rent to Own Program allowing you to secure your home and have time to improve your credit and build up your necessary down payment. You can earn a fixed monthly credit toward your future down payment. Once your credit has improved or you have accumulated enough down payment you can qualify for a traditional low rate bank loan or you may choose to convert to one of our easy purchase programs. This program is perfect for those with credit issues or those who haven’t saved enough down payment or just want to “test-out” the neighborhood, the schools or the house.
Apply Your Rent Towards Your Home Purchase
Our Lease Option Program is designed to provide an alternative to those seeking to rent a home. Once qualified under our program, the participant selects from one of our current “Lease Option” listings. We can also help the participant locate a home for sale in the area they want to live in and at a purchase price that fits their budget. The participant makes an up front payment securing an option to buy the home instead of paying a deposit and then makes monthly payments, just like rent. Under our program the up front payment and if applicable, a portion of the monthly payments in each month the payment is made on time are credited towards the purchase of the home.
Better than Just Renting?
• The program guarantees that the owner can’t sell the home to someone else, giving you stability and peace of mind.
• The program allows you to accumulate a credit towards the purchase of your home in two-three years.
• While in the program, we can help you repair your credit if needed by establishing a two-year track record of timely payments and through participation in our Credit Monitoring Process.
• You will be able to find and live in a high-quality home in a great area of your choosing. • The program allows you to lock-in a purchase price while you are qualifying for a conventional mortgage.
How Does it Work?
The process begins with a simple standard rent application. You will also assist us with determining the maximum home value you qualify for by identifying:
• The amount of money you have available for your up front payment.
• The monthly payment you can afford based on your monthly income. (We try to keep your total payments to less than 1/3 of your total net household income.)
During the lease period, we pay all real estate property taxes and the homeowner’s insurance.
You will be responsible for the utilities, all maintenance, and your renter’s insurance policy.
Once you are moved in, we expect that you, as the future homeowner, will treat the home as you would treat your own home because it soon will be yours!
For more information on how this program can benefit you, please fill out the form below and we will be delighted to inform you on how this innovative program can work for you!