LeaseOwn Homes believes everyone deserves a second chance to become a homeowner.
Here at LeaseOwn Homes you can pick one of our homes that you like and you have the opportunity to live in the home you are going to own for up to 3 years while we help you prepare for a new loan.
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Do you still have questions? Scroll down the page to the FAQs section for more information.
Home Ownership Now Within Your Reach
Have you been declined for a home loan due to credit issues, but have a stable job and rental history? The LeaseOwn Homes Tenant Buyers Home Ownership Program will allow you move into your dream home for up to 3 years with the opportunity to earn equity while you prepare to qualify for a home loan. Stop throwing your money away on rent let us walk you down the path to home ownership.
Home Value Promise
Worried about property values? Our promise to you is to make sure your home will appraise for the option purchase price at the end of the option period, or the terms will be locked in for 1, 2 or 3 more years (varies by property). We will help you step by step, so you can enjoy the journey while you move into your dream home.
LeaseOwn Homes Partners You Can Trust The #1 mistake made by families in your situation is to buy a home from a private party or a fly-by-night real estate investor. Choose LeaseOwn Homes we will help you get into a home immediately and one of our Affiliate Lenders can help insure you will qualify for your loan when it is time.
More Reasons to Choose LeaseOwn Homes
LeaseOwn homes allowed me to purchase the home of my dreams. After filling out the web form I was in my home in 3 weeks. That’s Incredible!
Q: How much does it cost to get into a LeaseOwn Home?
A: First month’s payment, A security deposit normally equal to the first month’s payment, the purchase option assignment fee and a $60.00 application fee per adult.
Q: Why do I have to pay a deposit?
A: Just in case you decide not to complete the purchase and there is damage to the home, if there is no damage to the home the deposit is refunded to you at the completion of the lease term or at the time you complete the purchase of your home.
Q: What is a Purchase Option Assignment Fee?
A: It gives you the rights to purchase the home at the end of the lease period, which means you are the only party that controls the home and no one else can buy or sell the home or secure a mortgage on the home during the lease term without your permission and you are the sole party who can buy or the sell the home at the end of the lease term.
Q: Why is it a must to do a lease with the option to buy instead of seller financing?
A: A lease gives you the maximum protection from dishonest real estate owners and investors, you have much more protection from a lease than you do from a seller financing contract created by the owner or investor. Most homes have a mortgage and if there is a seller financing contract and there is a mortgage on the home it may cause the lender to call the loan due and you may be evicted and the home foreclosed upon.
Q: How much is the initial Purchase Option Assignment Fee?
A: Initially as little as $5,000.00 and as much as 3% of the purchase price based on the property and the approval, sometimes if approved we can spread all or a portion of the initial fee over the term of the lease.
Q: Is there a payment plan for the purchase option assignment fee?
A: If you qualify it would be as little as 20% down or a minimum of $3,000.00 and payments as low as $32.27 per month for each $1,000.00 borrowed.
Q: is the money I paid for the Purchase Option Assignment Fee applied to the home?
A: Yes it is credited back from the purchase price at the time of purchase and if the value does not go up enough to receive the credit back the purchase price will be reduced the same amount as the credit. (Many lenders allow the credit back to be used towards down payment and closing costs)
Q: What is the purchase price for a LeaseOwn Home?
A: LeaseOwn Homes are owned by investors who bought these homes specifically to make a profit, LeaseOwn Homes negotiates the final purchase price with the investors with the purchase price starting at today’s value and 7% is added per year for profit, 5% goes to the owner investor and 2% goes to LeaseOwn Homes as the second part of the purchase option assignment fee.
LeaseOwn Homes only receives the balance of the fee if the value of the home has increased enough to receive the balance of our purchase option assignment fee and we will waive part or all of our fee if the value has not reached the full amount of the purchase price.
Q: What happens to the amount of profit or equity if the home increases in value above 7% per year?
A: Example: The Phoenix, Arizona real estate market is going up at a pace of 11%+ per year which means anything above the 7% goes directly to you.
Q: How do I find out if I qualify?
A: Complete the online application we may be able to have an approval the same day.
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If you have any additional questions please call (480) 382-8858