Rent To Own Is Awesome

What is required to qualify for a lease purchase property?

Great question!! When you apply for a lease purchase property, there are some main items that are being reviewed and that are being looked for:

• A Down payment - amount to be agreed upon by you and the landlord/seller

• Debt to Income Ratio Analysis - We will make certain the lease payments along with you future mortgage payments are within your budget and meet the lender underwriting guidelines. For this step you will need to provide your income documentation

• Credit report score to be above minimum underwriting standards or you must be enrolled in credit restoration / enhancement 

Terms of credit during rental period dependent on agreement with homeowner. Terms of credit may affect ability to qualify for home loan at end of lease period.