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lease options

Posted by RCPAP on January 8, 2016
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How do lease options work and what are the benefits?

A lease option is an arrangement with you and a seller to exercise the option to buy a Dallas Georgia Homes & Rockmart GA Homes area home after you have rented it for a specific period. A portion of your rent would applied toward the purchase if the option is exercised. This is referred to as rent credit, which most institutional lenders will accept as part of the down payment if rental payments exceed the market rent and if a valid lease-purchase agreement is in effect, a copy of which must be attached to the loan application.

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