Buy A Home

How Does Lease to Purchase (Rent to Own) Work?

I find myself answering this question numerous times per day so I figured it’s way over due that I post an explanation.  

Approximately 82% of the market cannot qualify TODAY for financing and typically would need to improve their credit to do so.  Alternatively, other buyers with good credit are looking for a way to buy now while they save more instead of renting while they save.

Equity Enhancement Program

We offer lease purchase (rent to own) properties only – no straight rent.  All properties will require 3%-10% down and that is credited against your purchase price.  You then pay a monthly lease payment.  Some homes also feature our Equity Enhancement Program.  That works like this:  on any given month you can put an extra payment toward the purchase price of $100-$500 ($100 increments) and receive a credit against the purchase price of 50% more.  For example, if you have a month when you feel you can put an additional $200 down for your down payment, you receive $300 credit.  The maximum in one month is $500 down so $750 credit.  You can always put more down to improve your down payment for future financing, but the free equity you’ll get with theEquity Enhancement Program is capped at $500.