Are you fed up with throwing away your hard earned money every month on rent? Do you want to put your family into a beautiful place they can call home? What’s stopping you? Credit? Past Issues? With a lease purchase, you don’t have to face the immediate scrutiny that lenders will putyou through, even if you have what you think are “problems”.
Low option consideration.
Many past credit problems are not a problem. e.g. if you have a recent bankruptcy a Lease Option allows you to defer the purchase until after the bank's minimum time required before they will finance a new home.
Less qualifying restrictions.
Purchase price is agreed upon and locked in ahead of time.
Tax benefits! You could receive benefits such as depreciation, avoidance of short-term capital gains tax, etc.
You are able to check out the area and house thoroughly before purchasing the house
The property continues to build equity while you are living in it. That equity is yours when you exercise your option!
We offer a home warranty on all properties to cover most repairs such as A/C, water heater, etc.
Option fee is fully credited to the cost of the house.
Part of your rent payment every month may be credited to the purchase price, which can also be used towards closing costs.
We work directly with loan officers to assist you in obtaining permanent financing
Debt to Income ratio
Bankruptcies? (If so, there are certain time restrictions that have to be overcome.)
Foreclosure? (Again, certain time restrictions are set forth by the lenders.)
Tax Lien? (Normally must be paid for finance.)
Many past credit problems are not a problem.
Scores (Although other items are important, most lease option specialist are looking for applicants that are no more than 60 points away from FHA finance.)
Judgement? (Must be resolved for most lenders.)
We offer a home warranty on all properties to cover most repairs such as A/C, water heater, etc.