How Does A Lease With Purchase Home Agreement Work?

The lease to own process is actually pretty simple.

How Long Are Lease To Own / Lease Option Terms?

Your lease/option agreement (also known as the lease to own contract) will spell out the length of time that you have to complete the purchase of the property – typically 1-2 years, but in certain circumstances we may extend your option if you need more time to get your credit or downpayment up to the point where you can qualify for a bank loan.

The purchase of your home usually takes place through a traditional mortgage loan, but there are other ways to complete the purchase, depending on your finances.

That’s the process!

Once you’ve completed your mortgage, you’re done – now you own your home!