Lease Option

Move in now - Buy later

Please contact us to receive notification when we have lease option homes available.

A lease option is a contract under which you lease the home with a future option to buy, and it can be a brilliant choice for the family in need of just-that-little-extra-time to qualify for a loan. And with no guarantees in the real estate market, locking-in a purchase price will likely prove to be very advantageous.

We will set a purchase price at the current market value and in the future, when the real estate market rebounds and prices increase, the option will remain to buy at the locked-in price.

The lease option process: We will set a purchase price to the property, a payment, and the time frame within which you must obtain bank financing.

A lease option is not long term financing. You must qualify for a bank loan within the option term.

Lease Option FAQ

Is a down payment required?
YES. To legally have an option to buy, you must pay money for consideration to exercise the option to purchase the property, and lock-in the purchase price. This consideration will go towards the purchase price of the property when the option is exercised, and it is non-refundable if the option is not exercised during the term of the agreement.

A quick example of the down payment process:
Purchase price - $150,000.00, down payment amount of $7,000.00. The amount due when you qualify for bank financing is: $143,000.00 ($150,000.00 - $7,000.00).

How much is the down payment?
That depends. A large down payment will help tremendously when you're working with a bank for long term financing. You should offer as much of a down payment as you can afford, so that we may get a home in your name as soon as possible.

Higher down payments will give you first choice when your ideal home is available. However, you should know that if you fail to qualify for bank financing within the term of the lease, your down payment may not be refundable.

Does any of my monthly payment go toward the purchase price?

I have horrible credit. Can you help me?
Most likely, yes. Depending on how much you can afford as a down payment and just how bad your credit is, we may still be able to get you in a property.

Please contact us to receive notification when we have lease option homes available.

(800) 606-2113
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(800) 606-2113

1st Home Solutions LLC
P.O. Box 820331
N.R.H., TX 76182

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