Why rent when you can own. This lease to own option allows you to get moved in and start building equity in your own home until you can obtain permanent financing. The down payment and a portion of the monthly payment will be used to help get you financed. This can be used as a reduction in the sale price, money towards closing cost, or considered a down payment. The idea is to utilize this money as needed to get you financed and approved for your permanent mortgage. 3 Year Lease to Own Option. $1000.00 Option to Purchase $800 Per month Total Purchase Price: $65,000 • The $1,000 is set aside as equity in the home (taken off purchase price, used for closing cost or used for down payment, etc.) • $400 of each monthly payment is also allocated towards equity in the home. • After 3 years you will have $15,400 in equity to help put you in a position to get permanent financing. • This overall system is very similar to renting, except you are actually able to build equity in the home while you are living in it. This is a great way to get into a house you can call your own. • There is no early pay off penalty. If you are able to get permanent financing prior to the 3 years lease option there are no penalties. All equity built to date will be applied to the sale. • It takes $1,000 for the purchase option and $800 for the first months lease to get moved in. This is a total cost of $1,800 to get moved in. Good credit, bad credit ok.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
