Bad or NO Credit? Lease-to-Own Is For You!
How Does A Lease With Purchase Home Agreement Work?
The lease-to-own process is actually pretty simple:
We’ll work with you to locate homes that fit your criteria.
Meanwhile, we’ll give you an application to fill out. Don’t worry – we help people with all kinds of credit and financial situations, and if you can afford the property, we can probably help you to own it.
After you’re approved to rent a property, we’ll agree on a monthly rent amount and the future purchase terms. Then just sign the documents and move on in!
Move in and pay your rent payments on-time… then at the end of the rental agreement, you can decide if you want to purchase the home or not.
THERE IS NO OBLIGATION to purchase the home after the rental agreement expires.
How Long Are Lease-to-Own / Lease Option Terms?
Your lease/option agreement (also known as the lease-to-own contract) will spell out the length of time that you have to complete the purchase of the property – typically 3 years, but in certain circumstances we may extend your option if you need more time to get your credit or down payment up to the point where you can qualify for a bank loan.
The purchase of your home usually takes place through a traditional mortgage loan, but there are other ways to complete the purchase, depending on your finances.
That’s the process!
Once you’ve completed your mortgage, you’re done – now you own your home!
Lease-to-own (or lease option) is a great way to get into a home when bank financing just won’t work. Learn more…
If you’re tired of renting, and you want to own a home but your credit, lack of down payment, or income hold you back from qualifying for a normal bank loan… a “lease-to-own,” often called “lease option” or “lease purchase” may be a great fit for you.
We specialize in helping clients earn the satisfaction of being a homeowner through our Lease-to-Own Home Program.
All Size Homes helps to get your credit up so you can purchase
the home in as short of a timeline as possible.