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Lease Option To Buy Homes
Why Lease Option To Buy Homes In Lakeland FL Are Popular
You have probably seen them in the newspaper listings in the past, the ads worded as “rent to own”, “lease option”, or “lease option to buy”. Ever wonder why you are seeing so many of them lately? It might be because of the current housing market, or the fact that there is credit available, but the lenders are not lending these days. Whatever the reason, the most popular option today for purchasing a home is to look into lease option to buy homes in Lakeland FL, one of the largest housing markets in the country.
If you are tired of getting the run-around from the bank on financing your first home, call the experts at Easy Homes 123 or fill out our Lease Option Application today. They will be able to get you into one of their lease option to buy homes in Lakeland FL tomorrow, without all the drama and stress.
There are plenty of houses out there in the markets for purchase, rent to own by owner or not, the listing of homes for rent or sale is quite extensive. Problem is, in spite of all the government bailouts and incentive programs to get the markets moving again, it is simply not happening, and very few first-time buyers are getting financed. So who would consider using this option and how would they qualify?
The majority of those who go for lease option to buy homes in Lakeland FL are those who actually have pretty good credit, while others may not qualify now for a loan, but might in a few years. Looking into purchasing homes to rent with option to buy is the smartest move either group can do, because they can pay their down payment over time, allowing them to be in the home while they wait for a bank to qualify them for a mortgage a couple of years down the road.
How it can Work For You
For example, you look in the listings of homes for rent with option to buy, and you find this beautiful house for $200,000. You negotiate with the owner, and together you agree to rent the house for two years, with an option to buy it at the end of the lease. You place a deposit of $3000 with the seller, and agree to lease payments of $2000 a month. Out of that monthly lease payment the seller agrees to put aside $500 a month towards helping you build a down payment plus the deposit.
At the end of the two years, your choice of the many lease option to buy homes in Lakeland FL can now be yours, if you still want it. You meet with the seller and his lawyer to work out the final deal so that you can get financing from the bank. Over the two years, you have amassed a total of $15,000 to use for the down payment, and the bank agrees to give you a mortgage for the balance of the sale, $173,000.