We also offer homes on a lease option basis.  If you don't qualify for a home loan at this time, we can probably help.


 

1.  You identify the property that you want to purchase and let us know how much you would like to offer the seller for the property (initial purchase price)

2.  We will make an offer on the property.

3.  Once the home is in escrow, we will meet together at the property to do a walk-through.

4.  We will sign the lease option papers and an up-front option of 5% of the option price will be due prior to us lifting all of the contingencies to close on the home.

5.  Once we close escrow on the home you will then have 2 years to purchase the home from us at the option price.  You will pay a monthly rent.  Part of the rent will be credited to you as a monthlyrent credit.

6.  When you're ready to purchase the home the up-front option plus the accumulated monthly rent credits will be available to you as down purchase funds.

 

 

Purchase Price

Option Price

Option

Monthly Rent

Monthly Credit

Lease Period

$80k to   $109k

$110k to $139k

5%

$1195/mo

$150/mo

2 Years

$110k to $139k

$145k to $174k

5%

$1295/mo

$200/mo

2 Years

$140k to $159k

$180k to $199k

5%

$1395/mo

$200/mo

2 Years

$160k to $179k

$205k to $224k

5%

$1395/mo

$200/mo

2 Years

$180k to $199k

$230k to $249k

5%

$1495/mo

$250/mo

2 Years

$200k to $219k

$255k to $274k

5%

$1595/mo

$250/mo

2 Years

$220k to $239k

$280k to $299k

5%

$1695/mo

$300/mo

2 Years

$240k to $259k

$305k to $324k

5%

$1895/mo

$350/mo

2 Years

$260k to $299k

$335k to $374k

5%

$2295/mo

$350/mo

2 Years

$300k+

1.28 x (Purchase Price)

7%

.83% x (Purchase Price)

16% x Monthly Rent

2 Years

 

Initial Purchase Price:  This is the amount that we will purchase the property for from the bank/seller.  The lower the price we can negotiate with the bank/seller here will translate to a lower option price for you.

Option Price:  This is a fixed price for 2 years at which you will be able to purchase the property from us.

Up-Front Option: This is the amount of money due at least 2 weeks prior to my closing escrow on the home we are purchasing for you.  ALL of this money (plus the rent credits that accumulate each month) will be available to you as down payment funds at the time you are ready to buy the property from us.

Rent Credit: The amount of each month's rent that is credited to your option amount.  

Rent:  Total monthly rent that is paid by you.  Part of the money is credited towards the accumulated option as explained in the definition of "Rent Credit".