Lease Option Purchase Program(s)

 

Premium Lease Option:* (designed for those with cash for downpayment but credit issues that prevent getting a bank loan for purchase right away)

  • Minimum 5% – 10% Option Consideration due at signing of Lease/Option
  • All of Option Consideration is applied toward future purchase
  • Ability to pay at least 10% above standard rent
  • All of Premium Rent (10% above) is applied to future purchase
  • We match 50% of Premium Rent amount paid each month (applied as credit toward future purchase)
  • Lease Option period between 12 months and 24 months

Standard Lease Option:*

  • Option Consideration due at signing of Lease/Option between 3% and 5%, sometimes more
  • All of Option Consideration is applied toward future purchase
  • No ability to pay more than standard rent
  • After 6-months of “Good Payment” track record, a percentage of rent paid is applied to purchase: Percentage is equal to percentage of original Option Consideration percentage paid at signing
  • Lease Option period between 12 months and 24 months

Economy Lease Option:*

  • Option Consideration due at signing of Lease/Option $1000 minimum, remainder of 3% to 5% to be paid over first 12 months of Lease
  • All of Option Consideration is applied toward future purchase
  • No ability to pay more than standard rent
  • After 12-months of “Good Payment” track record, a percent of rent paid is applied to purchase:  Percentage is equal to the percentage of accumulated Option Consideration paid over first 12 months of Lease

*All Lease payments during Lease Term must be paid on-time in order to maintain Option in good standing.  Property being Leased must be kept in same condition as it was at Lease Signing or all Option Consideration paid will be forfeited and Option will be terminated. 

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