Lease Options are a great way to become a homeowner! You have the ability to move into your house NOW, while you take some time to work on your credit, save money, or sell your current home!
How it works:
We will help you find a great home that is available for a Lease Option. Once found there is an application process that takes place just like a traditional rental. Background, credit, references, employment etc. are checked and reviewed in a timely manner and then a decision is made by the property owner. Since Renting to Own is helpful to many credit and money challenged people, rarely are you turned down just because of poor credit!

Once approved, you will sign two separate agreements. A lease agreement (standard rental agreement) and an Option Agreement (your "option" and right to purchase the property). Money is invested up front called "Option Money" and secures your option to purchase the home at a later date. Very similar to earnest money when purchasing a home. 100% of the option money is given back to you if you decide to purchase the home. However if you do not purchase the home, you will forfeit your option money. You continue to make monthly rent payments and in most cases even a percentage of your rent goes towards the purchase of the home!

Typically option money is between 3% and 5% of the purchase price of the home. But WE ALWAYS CONSIDER ALL OFFERS! We understand that you may not have that amount of money available to you all at once, so please let us know about your situation so we may do our best to assist you.

When you decide to purchase the home within your option period (typically 12-24 months, but longer if needed) you would apply for and obtain financing on the home for the price that was agreed upon between you and the owner from day one. Your landlord will then apply all credits they owe you towards the home.

We recommend working with a mortgage broker early on in the process so that you are that many steps ahead when it comes time to purchase. We have MANY great mortgage brokers we refer to that will help consult you about your current situation, what to do in the next few years, and action steps to take to better your application for a loan. We even offer great Credit Repair resouces that your landlord will pay for after you purchase the home!

Please contact us for more information or if you have additional questions!