Lease Option Advantages

1.  There is no bank qualifying.  Our concern is your ability to pay your monthly lease payments as well as your future potential to purchase the home.  This benefits buyers with credit problems.  This strategy allows time to repair less-than-stellar credit before you obtain your own mortgage loan, allowing for much lower rates in the future.  If there are credit issues to overcome we can help you resolve these while you are living in your new home.

2.  You have much faster equity growth than if you were just renting.  Some of your payments each month are going toward the purchase price which in turn usually eliminates the down payment that may be required at closing.  Your lease option states your purchase price the day you move in and this does not change.  Any increase in home value is yours to keep in the form of equity.

3.  A lease option gives you sufficient time to check out all the features and faults of the home.  This also allows you to spend some time in the neighborhood getting familiar with the schools, churches, shopping and neighbors before closing on the home.

4.  During the option period you avoid paying property taxes and property insurance.  These costs are all included in your monthly lease payment.

5.  A lease option allows for much lower rents than it would typically cost to own the same home.  This gives you more flexibility with your monthly budget and allows for some monies to put away into savings.

6.  Low down payments and rent credits given.  A minimal down payment is required which is significantly less than what you would be required to put down to purchase the home in a conventional manner and down payment assistance is available if needed.  This down payment as well as your monthly rent credit is deducted from your purchase price when you close on your new home, reducing the amount of money needed at closing.