Kavningham Associates, Inc.

	Home Real Estate Consultations Freedom Foreclosure Prevention Services Lease Purchase Advantage Rent to Own Program Articles Visit Our Blog Links Contact Us				The Rent to Own Program What makes a lease-purchase agreement such a good deal?     Anyone who dreams of buying a home understands the attraction of homeownership:         * Security         * Tax advantages         * Flexibility to make changes         * Sense of belonging     However, you also probably are all-to-clear on the barriers to owning a home:         * High down payments         * Rigorous credit checks         * Endless legal and financial requirements         * Owing more money than you ever have before     Lease-purchase agreements (renting to own) make your dream much easier to achieve.         * A lower credit score is not as much of a problem – every payment you make will be reported to the credit agencies, so you can improve your score by paying on time!         * A portion of your monthly rent is used to reduce the price of your home, so your rent is working for you, not your landlord.         * The money you lay out when you sign the lease (the “up-front option consideration,” in legal terms) is also put towards purchasing your new home.         * It costs less to start – instead of laying out anywhere from 5% to 20%, plus closing costs and a big chunk for paying taxes, you only pay the first month’s rent and the option consideration which is only 2-3% of the purchase price of the home. The option consideration goes 100% toward the purchase price as well and acts as part of your downpayment.         * Locking in the price means that if the value of your home rises before you purchase, you’ve added that much extra equity without putting out extra cash that you don’t have.         * During the lease period, you still don’t pay the taxes on the property, and your liability is much lower.         * Time is on your side: Depending on the agreement you sign, you will have six to twenty-four months before you purchase. That time will build your future equity and raise your credit score with each timely monthly payment, giving you more leverage to find a competitive home loan.  Click here to contact us about our Rent to Own program.