Rent to Own Programs

We have two types of programs available to help
 you own your next home!

The LEASE OPTION combines both a lease agreement and an option to purchase agreement.  The lease agreement is a rental contract with a special benefit.  A portion of your lease payment is credited towards the purchase price of the home. Your rent payment is finally working for you, instead of vanishing each month.  The option agreement allows you to lock in the price of the home today and enjoy the benefit of appreciation as the home increases in value.

Let's look at a typical example of acquiring a home using the LEASE OPTION:

At the end of 12 months, you will have at least $5,800 in equity from the $4,000 option money plus the rent credit $1800 ($150 X 12).  You would only need to get a loan for $94,200.  Around the 6 month point (or sooner), we will be working with you to get the financing to purchase the home.  We have a working relationship with a local mortgage broker who is able to find financing in most situations as long as you have paid the rental payments on time and other obligations were paid in a timely fashion.

Available homes

We have another program available where you can take ownership of the home immediately.  The LAND CONTRACT program is simply where we act as the financial institution and you buy the property from us just like a bank.  You will have a standard 15 or 30 year mortgage with all common rights and privileges.  You can refinance or sell the property at any time during the mortgage term without any prepayment penalty.  The down payment requirement is usually 10% of the purchase price and the interest rate is similar to or less than that charged by a non-conforming mortgage company. 

Here's an example of the LAND CONTRACT using the same house as used above:

The LAND CONTRACT is a great way to purchase a home without paying the typical 4-6% closing cost fees associated with normal financing.  Also, as you establish a good payment history, you may be able to qualify for a better interest rate and refinance the loan to reduce the monthly payments.

Available homes

Tell us about the home you are looking for