How This Works For Tenant/Buyers

Are you fed up with throwing away your hard earned money every month on rent? Do you want to put your family into a beautiful place they can call home? What’s stopping you? Credit? Past Issues? With a rent to own property, you don’t have to face the immediate scrutiny that lenders will put you through, even if you have what they think are problems.

Benefits of rent to own a home through a lease purchase:

  • Low option consideration (less down payment).
  • Many past credit problems can be corrected or deleted from your report while living in the home.
  • Less up front qualifying restrictions.
  • Purchase price is agreed upon and locked in ahead of time.
  • You are able to live in the house, check out the area and house thoroughly before purchasing the house.
  • Appreciation of property value works in your favor since the purchase price has been agreed upon prior to taking possession of the property. Any build of equity between move in date and purchase date is yours when you exercise your purchase option!
  • Option fee is fully credited to toward the purchase of the house.
  • Part of the rent payment every month may credited toward the purchase price, which can also be used to offset closing costs.
  • Live in the home while your income becomes documentable (self-employed).
  • America 2nd Chance work directly with loan officers to assist you in obtaining permanent financing.

Sounds great! But what are the next steps?

The first step is to position your application for lease purchase, to be as desirable as possible for America 2nd Chance. The cornerstone to your application is your credit score. If your score is below minimum guidelines (640 for most loans and 620 for FHA) you will need to develop a documentable plan to raise your score. America 2nd Chance who you are working with on obtaining your property has an affiliate relationship with www.mycreditteam.com. They are experts in the credit restoration and enhancement industry who not only will work on your behalf to raise your score but will also keep America 2nd Chance up to date as to the progress of your credit enhancement process.

If you have not enrolled in credit restoration and your score is below 640 your application for a rent to own property may not be taken seriously since there is no plan in place to position your credit score to be in the range acceptable for a mortgage loan.

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 America 2nd Chance
  • Debt to Income Ratio Analysis – We will make certain the lease/mortgage payments are within your budget and meet 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 with America 2nd Chance Credit Team.

The total amount required for move in is the Option Fee between 2-5% of the purchase price, plus the first month’s payment. It’s that easy! The first step to accomplishing your goal of home ownership begins by talking with Screen The Tenant. They will be calling you 24 – 48 hours after the completion of your on-line application below. Once you complete the prequalification app, and look at your desire property and wish to continue. We will send you our link for our prequal team to conduct background check, applications, and affordability analysis which will cost $50 per adult.

FILL OUT INFORMATION BELOW TO MAKE THIS PROCESS QUICKER(ITS FREE!)

 

  • Work Address
  • Basic Questions

  • Type "N/A" If it does not apply
  • How soon can you move into your next home?
  • How many bedrooms do you preferred
  • How many baths you preferred?
  • Financial Questions

    To see where you are at currently
  • 2-5% of purchase price is required.
  • This field is for validation purposes and should be left unchanged.

Want to Buy A Home?

Even if you have BAD or NO CREDIT, good news for you!

You’ve found the right place for a fantastic home.

We help regular folks like you become homeowners because we believe in the American dream.

We love helping our communities to grow and improve by empowering folks to accomplish something that they didn’t think was possible.

Our success is measured by making a difference in people’s lives.

We love it when people say things to us like:

“We never could have done this without you! With our previous credit history and very little cash, we didn’t know we could become homeowners – but now our family has a beautiful home to call our own. Thank you so much!”

“Your service has been phenomenal, thank you for the great support!”

“Even though my husband was having trouble getting a job, you were able to help us to get a house! Thank you so much for all you’ve done for us!”

We are happy to answer any questions you want to ask, and we can help you avoid scams. Even though lease purchase arrangements can be great deals, there are definitely some scam artists in the real estate business.

Want to learn more about the lease purchase  process? Click here now!

Give us a call anytime at (502)443-9522 to find out how we can help you, or fill out the form below to get started now.

Sounds simple, right? It truly is.

How To Get Started

If you’re curious to see what properties we have available today, get started by filling out the pre-qualification form below. We do have properties listed on this website but the best deals don’t even make it to this site because they get snatched up by those already pre-qualified BEFORE we even get a chance to list it online or on the MLS.

So, you’ll get an edge when you start the process by getting pre-qualified below.

Fill out the form BELOW to get the process rolling and see available Lease Purchase Houses in your city! 

START HERE: Lease Purchase Tenant/Buyer List

To see available local rent to own and lease purchase homes enter your info below to get started!
  • Work Address
  • Basic Questions

  • Type "N/A" If it does not apply
  • How soon can you move into your next home?
  • How many bedrooms do you preferred
  • How many baths you preferred?
  • Financial Questions

    To see where you are at currently
  • 2-5% of purchase price is required.
  • This field is for validation purposes and should be left unchanged.