When the bank says no, you still have options

The Lease Option Program (also known as rent-to-own) is specifically designed for individuals who may not qualify for a traditional mortgage.

In a coffee bean…

Who can we help with this program?
  • young couples
  • self-employed
  • bankrupted
  • new to the country
  • divorced

What if you would be able to get access to your dream house right away, making a two to four-years lease contract with the option to buy when the term is up?

You have probably been turned down for a mortgage and you need to improve your credit and build up a down payment to qualify for your mortgage. So, it is important for you to be proactive, using the rental period wisely, saving for a down payment and improving your debt, maybe cutting off unnecessary expenses, paying off your credit cards optimizing your credit score.

We understand that all this may be difficult, you will need to be organized, disciplined and diligent to be on track and ultimately you need a solid financial education. All this can sound pretty scary and this is why we came up with the

Lease Option Program - The 7 Steps

A program tailored to you, with our Credit Team working along with you to improve your credit score through our credit repair program and offering coaching on budgeting and improve your money mindset.

With the current lending criteria, it may be difficult to qualify for a mortgage.  This means many people with damaged credit or self-employed individuals are unable to buy a home. We are here to automatize the process for you, analyzing the whole financial aspect and providing you with a few steps to take as follows:

Step 1 – Fill out the application

After you have sent us the application, you will be contacted if you’re approved or for further questions. The minimum criteria for this program are:

  • Annual Household Income: $75,000
  • Deposit > 3% of the Property Purchase Price

Step 2 – Approval

Upon approval, we will:

  • let you know how much you are approved for;
  • match you up with a realtor to assist with the home-finding process.  If you are currently working with a realtor, you would continue to work with them!

Step 3 – Once a house is found

  • we work with the realtor to negotiate and finalize the sale agreement
  • a home inspection is mandatory to ensure that the house is free of major issues and that you can afford to pay for any necessary repairs or improvements that may be needed

Step 4 – Once all Offer Conditions are Waived

  • You sign a Tenant Lease and Purchase Agreement
  • Your deposit goes toward the purchase of the house

Step 5 – Move In Day

We will collect 2 monthly payments throughout the term. Each monthly payment is the sum of two portions:

  • the rent – money that goes toward the mortgage, property taxes and insurance
  • the savings – money that goes toward your down payment. By the end of the 36-month term, you’ve saved the necessary amount to make up your full down payment required

Step 6 – Over the 36-month term

  • the Credit Team works with you to improve your credit score through our credit repair program and offering coaching on budgeting and improve your money mindset
  • you also are able to do improvements on the home during this time to maximize the value of your home. In this win/win situation, your home will be worth more than the predetermined purchase price

Step 7 – When the Rent-To-Own term is up

  • you will own your own home
  • you will have a better credit score