Freedom Creek LLC maintains an associate network of financial planners and mortgage lenders. Buyers are advised on what actions they need to take in order to remove any credit blemishes, compare financing plans and secure the best mortgage. We want our buyers to succeed!

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Lease Purchase Advantages for HOME BUYERS

If you are in the market to buy a home, you are probably aware of the advantages home ownership provides (tax shelter, appreciation, security, etc).

One of the most powerful benefits of a Lease Purchase is the accelerated rate at which you accumulate equity. Moreover, the buying power of a Lease Purchase can quickly and easily land you a home that you would never qualify for with a conventional buy/sell agreement.

Your Rent Money is Working Toward the Purchase of the Home: Every month a portion of your rent payment is used to reduce (dollar-for-dollar) the price of the home.
Your Up-Front Option Consideration is Credited Towards the Purchase of the Home: This money is your vested interest in the home and will be fully (100%) credited to you when you buy the home.
Minimum Cash Out of Pocket: When you purchase a home conventionally, lenders require you to pay from 5% - 20% down plus closing costs and prepaids. When you buy with a Lease Purchase, you only pay the first month's rent, a small security deposit and the option consideration. This will save you 25% - 85%.
Profits from Appreciation: Since the sales price is locked in before closing (as specified in your agreement), any increase in property value above the selling price will mean that your equity (what you owe minus what it's worth) is increasing in the home.
No Taxes, Less Liability: Since you do not own the home (yet), you will not have to pay property taxes and your liability exposure will be dramatically reduced.
Time: Before you actually buy the home, you will have 6 - 24 months (depending on your agreement) to repair your credit, find the best interest rates, investigate the home and research the neighborhood and/or schools.
Privacy: Your name will not be on the deed until you exercise your option to buy.

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