Rent to Own, Lease to Own, or Lease Option

You may hear all these terms in your search for a Rent to Own home, however, it is all the same. It is the right to purchase a property at a later date at a pre-determined price. Why Rent when you can Rent to Own and build equity to buy your home? It doesn't make sense to us and it may not make sense to you either.

Why Rent to Own is a Win-Win Situation

• Easy to Qualify! Your financial life will not be placed under a magnifying glass as if you were trying to obtain a home loan. We run a standard rental credit and background check and work with many credit situations.
  
• Low Initial Investment! The amount of money needed to get into a home is about the same as if you were simply renting the home.
  
• Firm Selling Price set in Advance! The price of your home is set today with appreciation values lower than current market appreciation in King County (7% vs. 10-18% click here for data). This means you get instant equity in your home.
  
• Monthly Savings! Each month a portion of your rent is applied to the purchase of your home. This allows you to build equity in your home from your first payment!
  
• Instant Equity! Both the predetermined sale price and the rent credits allow you to build equity quickly and easily. In just two-years, you could have 10% equity in your home with no extra savings on your part!
  
• Easy Financing! Within two-years when you are ready to execute the option to buy you may have enough equity in the home that you will need no money out of pocket. This is because the bank considers a lease option a refinance.
  
• Re-establish Your Credit! By paying your rent on time every month you are establishing a strong credit reference while you are renting to own. This will allow you to get the preferred interest rates that will make the home affordable!
  
• Are you still wondering if it makes sense to buy? Click here for the answer!

  How the Program Works!

  For all leases, you'll pay an Option Fee, usually $4,000. This fee fully applies towards your purchase price at the end of the lease and is the "consideration" that gives you the legal right to purchase the property at the end of the lease. However, you are under no obligation to purchase. For the exact out of pocket amount needed to move into the home you want, simply go to the page of that property under the Featured Properties tab.
  
  Lease= a contract between you, the resident/buyer, and the owner/landlord for a given period of time - from one to two years usually.

  Option= the right to purchase a property at a later date at a pre-determined price, and must have consideration to be valid.
  
  Option Fee= The amount of money paid by you, the resident/buyer, that provides for the right or "option" to purchase the property at a price set today.
  
  Option Price= today's value plus a fixed appreciation rate. The fixed appreciation rate is based on location and market conditions.
  
  Rent Credit= the portion of your rent each month that is credited towards the purchase price.