What is a Lease Purchase? This type of transaction allows the future homebuyer to pick a home, move in and later buy the home once the issues that stop the buyer from purchasing the home have been resolved. Another commonly used term is (Rent to Own)

Lease Purchasing is a great way to purchase a home. Here are the Buyer Benefits you'll enjoy:

FASTER HOME EQUITY GROWTH.

Your home equity can accumulate faster than with conventional financing.

YOUR RENT IS BECOMING YOUR DOWN PAYMENT.

Each month you pay rent, many times a portion is credited toward your down payment or it can come off the sales price.

MINIMUM 'OUT-OF-POCKET' CASH.

When you purchase a home using conventional financing you must also pay such items as: Closing costs, prepaids (taxes, insurance, etc.) AND a down payment.

With a lease purchase pay ONLY the first month's rent and a down payment also called option consideration. (This is typically non-refundable) You'll save anywhere from 25-85%!

YOU HAVE MORE BUYING POWER WITH THE LEASE PURCHASE.

You can lease purchase a home for as little as the first month's rent and a down payment. You can compare that to a conventional lender that will require 5-20% down PLUS closing costs and prepaids!

YOU MAY BE ABLE TO SELL THE CONTRACT!

If you are allowed to 'assign' your interest in the home you could SELL IT to another interested buyer (With seller approval).

CREDIT PROBLEMS ARE A-O-K.

Restrictions on qualifying for a lease purchase ARE NOT as strict as in conventional home financing. Therefore, your seller or landlord has complete discretion on what they will accept.

LEGAL CONTROL OF THE HOME.

In a lease purchase you have LEGAL CONTROL over the property during the contract period without having to actually OWN the property. This is called an "Option" and for this legal right you will pay as a down payment towards the purchase price, the non-refunable option consideration.

MAXIMUM LEVERAGE WITH MINIMUM OUTLAY.

Your real investment (cash) is substantially lower than conventional financing WHILE you have LEGAL CONTROL over perhaps the largest investment in your lifetime.

TIME.

You'll have plenty of time to repair credit, secure the best financing and investigate the home and surrounding neighborhood - all BEFORE you actually buy the home.

PRIVACY IS ASSURED.

Since you are not listed as the property owner (until you actually complete the purchase) there will be no public record of where you live.

View our available Lease Purchase properties.