Lease to Purchase
Lease to Purchase Options!
A new way to purchase a home is through a "Lease to Purchase" (L2P) program. While these program have many amazing features to help a client, this is not a magic solution, or a risky "RENT TO OWN", or "OWNER FINANCING" type solution. If you need just a little help with their credit or just can't collect the down payment all at once. These options are to help you bridge that gap.
Once qualified, you can pick any eligible DFW home in your approved budget and the program will try to buy that house to temporarily lease ("rent") it to you. While in the program (Texas law stipulates 3 years max but can be much shorter), you'll have the right to purchase this house. Also, they'll even help you improve your credit (by reporting your payment history so make them always all ontime) which helps ease the loan requirements to buy the house. The best part is you can change your mind and not buy the home and even pursue a different house (but you must finish the current lease and fees).
PROGRAM REQUIREMENTS (for ALL signers):
- You need a Realtor. I can't help if you already signed with one.
- I don't work for the program, I can't change terms.
- 550 minimum credit for all signees*
- $55k minimum steady HOUSEHOLD income
- Monthly debt-to-income ratio under 50% with home
- Any DFW Home can be submitted (No flips, fixer uppers, etc.)
- Leases START at $1500/mo (based on home)
- Deposit Varies. usually equivalent of 2mo of rent or 2%
- Some programs charge an app fee (usually $99)
- Overall assessment financial viability and risk, etc
- No bankruptcy/evictions in the past year
- Assessment of recency and severity of any criminal record
- Programs are always being updated so you must review the final terms, information, details, and contracts, etc. so you stay informed
*If credit is an issue, I can suggest a third party credit repair service (PAID) which includes a "quick boost" for renters with 2yrs of good rental history (and other boost options). They can even help with bigger items like ATTEMPTED evictions. Simply, many people will benefit greatly from credit repair.
To begin, I need your legal name, phone, and email for everyone wanting their income considered for the program. I need ALL contact info to create a profile.
Send me your questions and we'll discuss your options. No obligations! Let's figure out a way for you to move forward.
Sign Up Here
- Jax Brock
- Hermann Tajo
- Ashlee Schall
- Mark's Mom