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With $1,000 to $2,000 down as an Option-to-Buy
fee you can qualify for our "Rent-to-Own" Program
giving you time to improve your credit and build up your
necessary down payment.
A rent-to-own house purchase (also "lease-to-own
purchase" or "lease purchase") is a lease
combined with an option to purchase the property within
a specified period, usually 3 years or less, at an agreed-upon
price. The borrower pays an option fee of $1,000 to $2,000,
which is credited to the purchase price. The borrower pays
rent, and an additional rent premium that is also credited
to the purchase price. The rent premium can be whatever
the borrower would like to pay extra each month toward the
purchase price. If the purchase option is not exercised,
the buyer loses both the option fee and the rent premium.
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 our easy
qualifying "Owner Financing" Program.
This program is perfect for those with credit issues or
those who haven't saved enough down payment or just want
to "test" the neighborhood, schools or the house. |
