How it Works

How it Works


The LeaseOwn Homes Buyer Program

        “The #1 Home Buying Program in America for families who don’t qualify for Traditional Financing”

To find out if you qualify for our program: Click Here

Becoming a homeowner is a big responsibility, more costs, more expenses and more rewards.

Here are the costs and the benefits of owning a home:

 

  1. Escrow is opened with Chicago Title Agency
  2. Make out all cashiers checks to: Chicago Title Agency
  3. You will have the opportunity to live in the home you will own for up to three years to give you time to prepare for a new loan.
  4. You will have the opportunity to start earning equity the day you move in to your new home.
  5. The purchase price of your new home will be locked in today.
  6. The purchase price of your new home will be today’s market value + 5% yearly increase which is our investors profit and any equity above the purchase price is your equity.
  7. Your Purchase Rights to your new home can be recorded with the county recorder’s office just like a deed to protect your rights in the home.
  8. You would be responsible to take care of the normal maintenance of your new home.
  9. You would purchase a home warranty for your new home to protect you and your home from costly repairs. (You can add to you monthly payment)
  10. Your monthly payment would be paid with a debit or credit card  and be reported to all 3 credit bureaus and would help you build the credit you need to qualify for a new loan and if there is a current mortgage on the home the payment would be paid directly to the lender so your monthly payment would be protected. (There is a small service charge)
  11. Your home would be as-is which is why you have a home warranty to protect you from unexpected expenses.
  12. Remember you are living in the home you will own, have the opportunity to earn equity and building your credit with every payment you make on your new home. Because of all the benefits you get you be responsible for taking care of your new home and the expenses that go with it.

Here are some of the costs to living in the home you will own:

$50.00-$100.00 per month Yard Maintenance Service

$50-$75.00 per month Pool Maintenance Service (if applicable)

$25.00-$150.00 per month Home Association Monthly or Quarterly Dues (if applicable)

$30.00-$80.00 per month Home Warranty Monthly Payment

$10.00-$40.00 per month Renter’s Insurance (to protect your valuables)

*these are estimated costs

Remember you will also have your normal costs of living in a home regardless of if you rent or own.

Utilities, cable, home phone, internet etc… It is important to review your budget and the costs of owning a home to make sure it is affordable and you are ready to take that big step into home ownership.

To find out if you qualify for our program: Click Here

To get started on your path to homeownership contact us today (480) 382-8858.