Many people only know of one way to buy a house – with a bank loan. This usually means a large down payment and good credit. Most people have found that qualifying for a bank loan can be very difficult lately. This is because the banks have become stricter with their lending criteria.
If you are ready to buy the home of your dreams, but your credit or savings isn’t quite ready, a lease option may help you move in. When you lease a property with an option to purchase, you have the option to buy the property at the end of the lease term (typically 24 months). This allows you to control the home you want while taking the time you need to improve your credit and qualify for a good mortgage rate. It’s really quite simple, and if this is something you are interested in, contact us!