Rent -to-Own or Lease-to-Own home purchasing involves a lease agreement and an option agreement to purchase the property in a specific time frame.
The purchase price is determined at the start of the Lease to Own term. We guarantee the price even if there is a great appreciation in the market and your home and property are appraised higher at the end of the term.
The lease to own term is determined by your needs to build up the required down payment and to help you restore or establish credit. We have terms from 1 to 5 years. You are permitted to purchase the property any time during the lease to own term.
There is an initial option fee required when you sign the lease that is credited back to you at the time of purchase. You will also receive a portion of each month’s lease payment as a credit at the time of purchase. You are able to build equity quickly with this plan. We work with you and a mortgage broker to help prepare for a successful purchase at the end of the lease term.
Included in your monthly lease payments are:
- Building Insurance
- Property Taxes
- Strata Fees
- Rent Payments
- Lease Option Credits
You only need to pay for:
- Content Insurance
- Utilities such as Hydro & Gas
- Cable TV, Telephone, and Internet if you wish to have them.