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Benefits
of a Lease Purchase for a Tenant/Buyer
Move
in with No Bank Qualifying - That means:
No Huge Applications to Fill Out Before Moving
In
No 'Perfect Credit' Required to Purchase
No Prying Questions on an 8 Page Application
Move
in Even if You Face the Following Challenges:
Recent Bankruptcy
Foreclosure
Judgments
Self Employed
No Large Down Payment
Move
in With Only a Fraction of the Move In Money Associated With Purchasing
Can't afford to put down the large down payment
required by banks? We allow you to move in with only a fraction of the
money required by banks. The lease term will allow you to accumulate
rent credit and give you additional time to save up for the rest of
the down payment to help you purchase by the end of the term. The up
front money needed to move in will be based on your credit report along
with your job and rent history, but our requirements to move in are
much easier to meet and we give you the time to qualify for a loan at
a later date.
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Rent
Credit
$200/Month
$300/Month
$400/Month
$500/Month
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1
Year Total Credit
$2,400.00
$3,600.00
$4,800.00
$6,000.00
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Save
Thousands in Rent
While
you're saving for a down payment and cleaning up any credit issues,
you could be saving thousands in rent. At the end of the lease term,
if you decide to purchase the home and meet the qualifications, you
will be credited a portion of the rent you paid during the lease term
to help you buy the home. The amount will vary with each house and the
length of the lease term. To the left is a chart that shows how much
you could have credited back to you when you purchase the home. Don't
throw away rent money! Move into one of our homes and have your rent
money work for you!
Experience
Appreciation Without Having Purchased!!
Appreciating home prices can actually
make it MORE difficult for you to purchase in the future because as
home prices rise, so do down payment requirements and monthly payments.
Homes can appreciate faster than you can save! Below is a chart showing
some examples of home appreciation. With some tenant/buyers we are able
to treat the lease purchase as a "refinance"... as if you've
already owned it for a year. This will allow you to avoid paying a down
payment altogether!
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Appreciation
Yearly Rate
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House
Value
Today
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5%
Down Payment Today
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House
Value in
1 Year
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5%
Down Payment in 1 Year
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House
Value in
5 Years
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5%
Down Payment in
5 Years
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5%
10%
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$100,000
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$5,000
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$105,000
$110,000
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$5,250
$5,500
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$127,628.16
$161,051.00
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$6,381.41
$8,052.55
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5%
10%
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$200,000
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$10,000
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$210,000
$220,000
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$10,500
$11,000
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$255,256.31
$322,102.00
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$12,762.82
$16,105.10
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5%
10%
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$300,000
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$15,000
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$315,000
$330,000
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$15,750
$16,500
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$382,884.47
$483,153.00
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$19,144.23
$24,157.65
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5%
10%
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$400,000
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$20,000
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$420,000
$440,000
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$21,000
$22,000
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$510,512.63
$644,204.00
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$25,525.64
$32,210.20
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Check
Out the Neighborhood
Moving into the area and don't know where
to live? Renting to own will allow you to experience a lot of the benefits
of home ownership without the obligation to live there. If you get a
job transfer or want to move back to family in a different city, you
won't be burdened with trying to sell the home.
Fast
Move In
When purchasing a home conventionally,
it can take 45-60 days after writing a contract before you get to move
in because you'll need to get your financing arranged prior to purchase
and move in. For most of our homes you can move in right away and we
can help you through the purchasing aspect LATER!
If
you feel you have more questions about how the lease purchase program
works, click here to check out our Frequently
Asked Questions (FAQs) page.
All
information on this page is deemed reliable, but not guaranteed.
Creative Asset Management, Inc reserves the right to change their applicaiotn
and review process at any time.
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