Faqs

Q. How does LeaseOwn Homes help me become a homeowner?

A. LeaseOwn Homes makes it easy to become a homeowner in many ways: First, we make it easy to get into one of our homes with a low down payment and no bank qualifying. Second, we lock in a price so you can build equity before you buy. Third, we offer expert credit restoration advice to our buyers.

Q. Don’t I need to save up more money for a down payment before I can purchase a home?

A. Many of our tenant buyer receive a credit back from the monthly payment and it is credited back from the purchase price, many lenders allow that credit to be used towards down payment and closing costs. See your lender for details.

Q. Don’t I need to improve my credit before I can purchase a home?

A. Bad credit can keep you from getting a home loan, and even if you do get approved, the rates can be so high that making payments is difficult. Don’t worry, you will have time to prepare your credit to qualify for your home loan.  At LeaseOwn Homes, we frequently approve applicants who have terrible credit, because we look at your whole financial situation. We do this because we know that you are serious about being a homeowner and we will work hard to help you improve your credit to get the best possible terms when you complete the purchase. We will recommend lenders who believe in our program and we can work with you to create a credit improvement plan for you. Most importantly, we lock in the purchase price when you move in, so prices won’t climb out of your reach if the next boom cycle comes while you are working on rebuilding your credit.

Q. How do you determine if I qualify for your lease-to-own program?

A. LeaseOwn Homes, looks at your whole situation to determine acceptance. We encourage you to apply even if you have major credit issues, including foreclosure or bankruptcy.

Q. Do we need to wait the full lease term before we purchase?

A. Yes, your Lease-to-Own option contract guarantees you the right to purchase at the end of lease term, it is vital to have enough time to prepare to qualify for the loan. However, if your needs change we may be able to help you get into another home and make this your first investment property before you even get the loan.

Q. The main reason I want to buy a home is to build up equity when the market appreciates. Will your lease-to-own program allow me to build equity?

A. Yes. The purchase price will be locked in, so you will be building equity when prices start to rise before you even purchase the home. By getting a LeaseOwn Home you have the opportunity to live in your own home while your are preparing your credit for your loan. Click Here to complete an Application and put an end to the frustrating cycle of waiting and missing out.

Q. What are my options if I cannot qualify for the loan at the end of the lease-to-own option period?

A. You may sell the property and keep the profits if the home has appreciated beyond the contract purchase price. There are multiple ways of accomplishing this and we will recommend title companies who are experienced in these transactions. Of course you may also simply move out with no penalties at the end of your lease term with no further commitments. It’s your choice.