A lease-to-purchase agreement (sometimes referred to as “rent to own”) is a lease combined with an option to purchase the property within a specified period (usually 3 years or less), at an agreed-upon price.
Lease Purchase Loan
Have you been renting for some time and would love to own? We have a loan that will allow you to lease in order to own.
- Borrower receives credit for equity growth in home
- Use appraised value as borrower’s equity for rate term
- Loan-to-value (LTV) based off appraised value vs. purchase sales price
- Must have canceled rent checks
- Agreement must have been executed over 12 months ago to use the appraised value
- LTV determined by borrower’s scores/credit, rate-term only, no cash-out
- Loans up to $3 million and 90% LTV with no mortgage insurance
- Renter is now treated as the homeowner without being on title for qualification purposes
- Title must be transferred to borrower at closing
- Credit scores as low as 500
Call or email TODAY for more information! 720-458-4036