Lease Option Questions

What is an option consideration? This is a non-refundable down-payment on your new home. You are basically buying an option to purchase the home for a specific time period (usually 12-24 months). The purchase price will stay the same, but the house continues to appreciate. If the new mortgage loan is not in place within the specified time period, a new option can be negotiated as long as the payments were made on time.

What is the option term? The length of the option will be decided before you move in and depends on how long it should take you to qualify for a mortgage loan. Usually the terms are in the 12-24 month range.

What is a rent credit? Each month that the rent payment is received on time, we will apply a rend credit towards the purchase price. This credit will reduce the amount owed on the house and will increase your equity position in the home.

Do you offer owner financing on the homes you sell? Yes, we sell many homes with owner financing or by creating a rent-to-own situation. We work closely with licensed mortgage brokers who work with many different lenders to find the right loan for you.

How can I qualify to buy one of your homes? We are not extremely interested in your past credit history. We understand that bad things sometimes happen to good people. If you have some money to put down and can make reasonable monthly payments, we can put you on the path to home ownership. Your desire to become a homeowner is what really matters to us.

How much of a down payment do I need? Because we are not Realtors and have a vested interest in the properties we sell we can be flexible with our down payments. We will do our best to work with whatever funds you have available.

Do you work with investors? Investment property is our speciality. If you are an investor looking for cash flowing properties or a quick flipper contact us to learn more.