Live in the home first. Decide about buying later.
Lease a home with a written option to buy it later. You get time in the home and time to prepare, and buying stays your choice.
Three steps.
Tell us what you need
The area you'd like and when. That's it.
See the terms in writing
When a lease-option home fits, you get the terms for that home in writing before anything is signed.
Lease, then decide
Live in the home under the lease. Use your option to buy if and when it's right for you.
Questions to have answered in writing.
Ask these about any lease-option, anywhere. We answer them in writing for each home.
The price
What the purchase price is, or exactly how it will be set, and how long the option lasts.
Money up front
Whether there is any option payment, whether it is refundable, and whether any of it counts toward buying.
Repairs and upkeep
Who is responsible for which repairs during the lease, and how repair requests work.
If you don't buy
What happens at the end of the lease if you decide not to buy, or can't get a loan.
Common questions
What is a lease-option?
A lease for a home plus a separate written option to buy that home later. You rent it like any lease. The option gives you the right, but not the obligation, to buy it on the terms in the agreement.
Is this rent-to-own?
People often use the words "rent-to-own" loosely. A lease-option means you are not required to buy. Read every agreement carefully to see whether it is an option or a promise to buy.
Do I have to buy the home?
No. With a lease-option, buying is your choice. The agreement says what happens if you don't buy.
How is the price set?
Each home is different. The price, or exactly how it will be set, is written in the agreement before you sign.
Will I need a mortgage?
Usually, yes. When you decide to buy, you'll typically need a loan, and lenders make their own approval decisions. Using the lease period to prepare can help.
Is there money up front?
It depends on the home. Whether there is any option payment, whether it is refundable, and whether any of it counts toward the purchase are all written in the agreement before you sign.
Program terms vary by property and jurisdiction; details are provided in writing before you sign. Each home follows the laws of the city or county it is in.
Same process for everyone
Every home is offered to every applicant on the same written terms for that home. All lawful sources of income, including housing vouchers and benefits, are welcome. We never ask about or treat anyone differently because of race, color, religion, sex, national origin, familial status, disability, age, source of income, or any other trait protected where the home is.
Ask about lease-option homes
Everyone gets the same reply: someone from our office will reach out with what's available and how it works.