LEASE OPTION
WHAT IS IT
AND HOW DOES IT WORK?
Here at Creative Home Buying
Solutions we have many different options available to help you purchase your
home. We can help you with financing on all of our homes because we are not
Realtors; we actually own the homes we are selling. Since these are our
homes, we make the rules. We can help you buy a home when others can’t.
A few of our programs we
offer are:
·
You can earn your
down-payment in our Repair
for Down (RFD) program.
· You can buy a
great house under market value in our "As-Is"
program and gain equity the day you buy it.
·
Another great
program that I wanted to explain in more detail is our lease option program.
This program, like all of our programs, is customized to your specific
situation. This is sometimes known as “rent to own”. A lease option is a
great program if you need a little time to correct past credit issues prior to
purchasing. The lease portion is similar to leases you have possibly had in the
past. The real difference and
benefit is by you placing an option deposit on the home, you obtain the
exclusive right to purchase that home for a set period of time at a set price.
The benefits are:
o
All your option
down payment comes off of the price of the home.
o
You can live in
the home you are going to purchase before your credit is totally straightened
out. No moving twice!
o
You have an
exclusive right to buy, so no more having to move when the landlord sells the
home.
o
By curing your
credit problems before applying for a home loan, you normally will qualify to
have a lower interest (and lower payment) loan than you could qualify for now.
o
Your price is
locked in, so if the home increases in value that is your equity when you buy.
o
We will use our
knowledge of credit to create a custom credit improvement plan for you to help
yourself cure your credit woes during your lease period.
We hope you will give us an opportunity to make you a homeowner soon!