Money Monday: All Lease-Option Programs Are Not The Same
There are many reasons to going with a lease-option or lease-to-own deal when trying to become a homeowner. If you been turned down by banks or just don’t have the crazy amounts of cash they want you to use for a down payment, plus closing costs then lease options are an amazingly great alternative to get you to homeownership.
Another great benefit of lease options are you get to check out the neighborhood and occupy the home before you decide to buy it. And when you go with ASG Investments’, award winning Lease Option Program you have significant advantages given to you such as down payment and closing cost assistance.
SO WHAT IS A LEASE OPTION or LEASE-TO-OWN AGREEMENT?
A lease-option agreement is both a lease that allows you to occupy a home as well as an option that allows you to purchase the home in the future at an agreed upon price. Our program typically provides for 12-month, 24-month, and 36-month time frames and we work with you to get you ready to purchase that home when the time comes.
One of the great ways we get you ready for owning your home is through our MPC initiation (Monthly Payment Credit) where we take a specified amount of your monthly rental payment and apply it directly to your down payment. For example let’s say the monthly payment is $1800.00 with a $300.00 down payment credit (the amount is determined in your lease-option agreement) after just one year you would already have a $3,600 credit towards your down payment.
A FORMAL CONTRACT IS A MUST
Do not work with ANYONE who doesn’t want to formalize your agreement on paper; and when we say anyone we mean anyone from a family member to your best friend —get everything in writing. When you work with ASG Investments we sit down with you and go over the contract, make sure everything is clear to you and answer any questions or concerns that you may have.
With us you will always have the monthly payment, MPC (monthly credit), purchase price, expiration of option, and other contingencies like home inspections written in your contract. You will always get a copy of your paperwork for your personal records and we will always be available to you for assistance or to answer any questions; its part of the ASG commitment to YOU!
LEASE-OPTION IS NOT AN OBLIGATION TO BUY!
A lease-option should never force you to buy (hence the word OPTION) rather it is simply an opportunity to buy with the advantages of already knowing your purchase price, getting monthly down payment credit, as well as a chance to get settle into the house (kind of like a test drive of a car), interact with neighbors and neighborhood and most importantly you get time to get accustomed to the financial obligation that come with the house, like paying the utility bills and lawn care, etc.
You may wonder why you wouldn’t buy, well you may find out that you don’t like your neighbors or you may become disenchanted with the community itself, maybe your job relocates you, there are plenty of reasons as to why you may not do so. Being in a lease-option gives you the ability to quickly move on without worrying about selling a home you no longer want.
You should now have a better understanding of lease-options. So when you hear people tell you “oh there is no way you can get approved for a loan, and that’s the only way you can own a house” now YOU know better and also know that you have access to one of the industry leading lease-option programs when you work with ASG Investments!
Looking forward to helping you with you homeowner needs.
Antoine and Shonda Grier
ASG Investments, LLC
1-888-210-6134
Info@asginvestments.com
Blog: www.asginvestments.com/blog/
BMWK Partners
Pingback: Anonymous