Marty Orefice is the president of USLeaseOption.com a successful real estate company that specializes in rent to own homes for sale by owner. Find out more info at http://www.USLeaseOption.com.
Buying a home with a lease option program
Have you dreamed of owning your own home, but just don’t know how you can manage it? You might have bad credit, little money for a down payment or no credit history at all. Even so, homeownership is within your grasp by using a lease option program.
What is lease option?
Lease option is when you enter an agreement with a landlord that states in the future you have the option to buy that house. You agree on a price when you begin the lease, and if you opt to purchase the house, then you get a mortgage and end renting. If you opt to not buy the house, you move on or continue to rent.
Why is lease option popular?
Lease option will get you into your house fast! You sign a lease like the one you would any other apartment, stating what the rent is, how many pets you can have, etc. With a lease option, you also sign an agreement that says you have a right to buy the home and for what price. The agreement will also state the terms such as how long you have to decide on buying and what the expenses will be for both you and the seller.
The pros of lease option programs
• You can get in to a house immediately. Sign the lease agreements, move in and then work on getting your mortgage.
• Work on repairing or building credit while you rent your home. Pay off some bills or establish credit in order to get a better rate on a mortgage.
• You can put equity into the house before you even buy it! Even though you are renting, you know the house will belong to you. You can finish off the basement, paint the walls, add landscaping or whatever else you choose. It’s going to be your house!
• Save some money. While you are renting, you can set aside money for a down payment for when you do apply for a mortgage. The larger the down payment you have, the less the mortgage amount will be, saving you even more money in the long term.
• Investigate the market while you rent. If you are in a seller’s market, you can see if the prices go up or down while you are renting. If they go down, you can opt to not purchase and find another house that may be less. If prices go up, you don’t have to worry because you are locked in at an already determined price.
• Know you have options. If while you are renting and a job transfer comes up, know you aren’t obligated to buy the house. You can end your lease, move to another city, and begin another lease option program that can benefit you where you will be living.
Lease option is becoming more popular every year and more people are turning to it because they wouldn’t be able to get into a house as quickly otherwise. Some people who use lease option didn’t even know they could own a home so quickly. Lease option may be a solution for you!
- Related Articles
- Related Q&A
- Mobile Homes Parks for Sale and Rent - an Excellent and Attractive Real Estate Investment
- List Your Sale By Owner Home
- For Sale By Owner: Fair Housing Laws And Ethics
- Flyers For Sale By Owner Sellers
- For Sale by Owner Tips
- For Sale By Owner - Yes You Can
- Traits For Sale By Owner Type
- Contents For Flyers In Sale By Owner




Buying Property Abroad
By: Ron Wesley | 07/01/2010The world has witnessed the sudden surge in the house prices in hot abroad real estate countries, with UK recording the highest. the real estate has suffered a major set back in countries like UK, USA and various European countries.
Tips on Making a Purchase Offer that Will be in Your Best Interest
By: marco | 07/01/2010Now you that you have found the house that you want, it is time to take the necessary steps to make it yours. If there was anything that needed to be either replaced or fixed, you should include those in the offer as contingencies. Also, if you do not want to risk losing the deposit because you could not get financing, go and get mortgage loan pre-approval, rather than just getting pre-qualified.
HAMP Programme Fails as Modifications Remain Elusive
By: Julie Thompson | 07/01/2010Some comment about the program HAMP Obama. It was expected to modify loans to affordable levels so that borrowers do not pay their mortgages. But as the year draws to a close there is no doubt that the program failed.
In Lycoming County Foreclosures, Defaults in Credit Cards and Bankruptcies Have Been Increasing
By: Julie Thompson | 07/01/2010Here she talks about some predictions on the economy of 2010, which is good news. Judge Richard A. Gray summed appropriately "Not that there is no light at the end of the tunnel." The forecast for 2010 is cloudy and depressing.
Rent to own a FLorida home, Provides buyers with many advantages
By: Florida Mortgage | 07/01/2010Ren to own FLorida, FLorida lease option, FLorida rent with the option to buy.
Sell Your Property in Bulgaria the Search Engine Way
By: Jumping Spider Media | 07/01/2010People looking to sell a property in Bulgaria are increasingly looking to search engine marketing in addition to using traditional real estate agents. With more people using search engines to buy and sell property than ever before, harnessing the power of the internet to sell your Bulgarian property is becoming one of the most effective routes to market.
Finding Comfort and Luxury at Dallas Apartments
By: Kamesh Goud | 07/01/2010If you are in search of a house or relocating in Dallas, it would be advised that you visit the place before buying or renting so as to be assured about the reputation and quality of housing and vicinity of that housing.
Dubai Luxury Villas for Sale and Rent
By: Alan Cruz | 07/01/2010Luxury villas are the new growing trend in Dubai. It is always nice to have your own luxury villa with your very own garage to park the cars, and no one to complain of the parties you keep having every once in a while at your house.
Making Your House Stand Out in a Tough Market
By: Marty Orefice | 26/04/2008 | Real EstateMake your house stand out in a buyer’s market. Learn what’s needed to sell your house fast.
Buying a Home With a Lease Option Program
By: Marty Orefice | 28/02/2008 | Real EstateLearn how a lease option program works and how it can benefit you.
The True Costs to Sell a Home
By: Marty Orefice | 30/03/2007 | Real EstateFind out the true and hidden costs to sell your home with a real estate agent.