HOW DOES LEASE - TO - OWN WORK?

Much like leasing a car, the process is very easy.

1. Qualify for your approved purchase amount, using your income and FICO score. Approximately 40 % of your spendable income ( before tax, minus your monthly payments ) should be the maximum for your lease payment. Example: Gross income $4800.00 Monthly payments for car, school loan, and credit cards $400.00 Spendable income = $4400.00

Adjusting that figure by 40 % gives us $1760.00 as the maximum lease payment.

2. Choose the home that you like best, from the listings in the approved price range. Look at online listings through Realtor.com or your local real estate listings. DO NOT call a Realtor to show you the listings until you have contacted us. We use our own Realtor as Buyers Agent. When you have found the 3 best home choices, we will make the initial contact with the listing agent.

3.Option fee is due in full before an offer will be presented . Please read the disclosure carefully.Your option fee is based on your approval amount.

4. Ten days before the anticipated closing, your security deposit and first month's rent is due

5.You move into your home, and lease the home with a contract ( option ) to purchase for a pre-determined price. You may choose to exercise that option to purchase at any time during your lease, as long as the lease is in good standing.

Rent credits are earned each month that your lease is paid on time. Depending on the purchase plan you choose, that amount may be 10 %, 30 %, or 50 %

    We are not a lender. PLease check with your loan officer for a Good Faith Estimate.