Path to Your Home Ownership Begins Here

Do you wish to buy your own home but keep running into roadblocks due to banks giving you a hard time qualifying for their home financing?

Not to worry. Our Lease-to-Own program can help you buy your home and become a homeowner regardless of your problems.

Weak Credit? No problem
Self-employed? No problem
No legal status? No problem

Our program puts you in a house to lease for 24 months, and eventually you will become the owner of the house.

During the lease period, we will:
a) work on your credit, by removing inaccurate derogatory accounts and raise your credit score
b) bring in a mortgage officer to get you started on the paperwork for your home financing
c) get you connected to local agencies that provide down payment assistance

All this is done to ensure you get on the path to homeownership by qualifying for a home financing at the end of the lease period.

Sounds good?

Our Basic Requirements
In order to qualify to join our program, you would need:
1) 5% deposit of house price
2) 3 months of lease reserves

What’s Refundable and What’s Not
The deposit is non-refundable but will be applied to the down payment when you are ready to purchase the house.

The 3-month lease reserve is refundable back to you at the end of the lease period if you are not able to get the home financing. However, we will do all we can to get you a home loan that works for you.

Your Responsibilities
Once you are approved for our lease-to-own program, you can choose from our available houses. After picking the house of your choice, and after making the 5% deposit plus the 3-months lease reserves, and filling out the lease agreement, you can move into your new home.

As a tenant-buyer, you are responsible to pay for all utilities such as electricity, heat, water, cable TV, internet service, etc. that you use.

In addition, you are responsible for all repairs and maintenance on the house. That means if the light bulb blows out, it becomes your responsibility to get a new light bulb and put it in. Or if the toilet is not flushing, you would need to call a plumber to fix it, and you would pay for it.

However, you will not be paying the taxes and insurance on the house. We will handle those bills.

After 2 years of leasing, when you become the homeowner and the title transfers to you, then you would have to pay the property taxes and insurance, plus all repairs and maintenance, plus utilities.

Making Your Lease Payments on Time
The most important to remember is to make your monthly lease on time every month. As long as your lease payments are paid on a timely basis for the first 24 months, there is a good chance we can help you qualify for a home loan at the end of 24 months.

Monthly lease payments are due on the 1st of the month, every month. If you are late, there is a $40 charge. Failure to pay the late fee, we will take it out of your 3-month lease reserves. When you catch up with the lease payment plus late fee, the amount will be put back into lease reserves.

After 24 Months of Lease, You Are Ready to Buy the House
After completion of lease period, and we get you qualified for home financing, you are ready to become a full fledged homeowner. Bear in mind these 2 important costs you would need in order to buy the house

a) Downpayment when Buying
The other major factor in qualifying for a home financing is the down payment. We suggest saving up to 10% of house price. You get the 5% deposit credited back to you towards your down payment. Also, you may get some money from down payment agencies. But you still may have to come up with some additional money to make the required down payment. So, start saving from the beginning of the lease period.

b) Closing Costs when Buying
Also, when buying a house, any house, you are required to pay for closing costs of the home loan. That could be another 10% of the cost of house. So that’s another thing to consider when buying a house.

After making the down payment and closing, you are now the proud owner of the house.

Congratulations!! You Made It.