Home Ownership is Within Your Reach
Have you been declined for a home loan due to credit issues, but have a stable work and rental history? The OptionPlus Homes Rent-to-Own program has placed hundreds of people like you in their dream home while they prepared for the purchase. Stop throwing your rent money away and walk down the path to home ownership.
"I loved working with OptionPlus because there is more to me than my low credit score, but nobody else could see past that."
Price Protection Guarantee
Worried about property values? Look for the padlock logo on select properties. If the home doesn't appraise for the option purchase price at the end of the option period, the terms will be locked in for 1, 2 or 3 more years (varies by property). You will only find this at OptionPlus Homes!
Click here for full program details.
More Reasons to Choose OptionPlus
- Simple. Have you tried to buy a home before? It is a nightmare! Mountains of paperwork, month-long delays... not the case with The OptionPlus Lease-to-Own Program.
- Affordable. The cost to move into a lease-to-own home is much lower than the down payment on a purchase, and the monthly payments are considerably lower than a mortgage payment.
- Flexible. Homes on the OptionPlus Lease-to-Own Programhave many payment options for move-in amounts and monthly payments.
Q. How does the OptionPlus Lease-to-Own Program help me become a homeowner?
A. The OptionPlus Lease-to-Own Program makes it easy to become a homeowner in many ways: First, it makes it easy to get into a home with a low down payment and no bank qualifying. Second, you lock in a low price so you can build equity before you buy. Third, between $13,500 and $16,000 is applied to your down payment when you decide to complete the purchase. Fourth, you will be provided credit repair resources including a proprietary e-book and software that creates your dispute letters for you.
Q. Don't I need to save up more money for a down payment before I can purchase a home?
A. The OptionPlus Lease-to-Own Program provides credits to be applied towards your down payment every time you pay your rent. Most of the homes on the program have a $400 per month credit, which is $9,600 at the end of 2 years just for paying your rent. Also, your entire up-front option fee is credited towards your down payment.
Q. Don't I need to improve my credit before I can purchase a home?
A. Bad credit can keep you from getting a home loan, and even if you do get approved, the rates can be so high that making payments is difficult. Don’t worry, just get to work on improving your credit after you move into your lease-to-own home. You can be approved for this program even with bad credit, because your whole financial situation is evaluated. You will be provided with credit repair resources, like software to prepare dispute letters and educate you. Most importantly, the purchase price is locked in when you move in, so prices won’t climb out of your reach if the next boom cycle comes while you are working on repairing your credit.
Q. How do you determine if I qualify for your rent-to-own program?
A. Your whole situation is evaluated to determine acceptance. The most important factor will be your debt-to-income ratio, which compares how much you earn with how much you spend on long-term debt payments and minimum payments on revolving debt, like credit cards. We encourage you to apply even if you have major credit issues, including foreclosure or bankruptcy. It is recommended that you discuss your situation with a licensed mortgage broker to determine whether you are likely to be approved for a loan in 2 to 5 years, which is how long most of the properties on our program defer the requirement to obtain financing.
Q. Do we need to wait the full lease term before we purchase?
A. No, the The OptionPlus Lease-to-Own Program standard contracts guarantee you the right to purchase any time during the lease term. We have had more than one tenant/buyer on our program purchase within 3 months of moving into the property.
Q. What are Rent Credits?
A. Rent Credits is a significant way you will save up for a down payment on the purchase of your lease-to-own home. A portion of your rent payment (typically $400) will be applied to your purchase price. Most lenders will even allow your rent credits to be applied to your down payment.
Q. The main reason I want to buy a home is to build up equity when the market appreciates. Will your rent-to-own program allow me to build equity?
A. Yes. The purchase price will be locked in, so you will be building equity when prices start to rise before you even purchase the home. If you don't either purchase a home or move into a home on the The OptionPlus Lease-to-Own Program, you might miss out on the next boom cycle completely! You need a new approach. Contact one of our local franchise owners or Certified Referral Partners today and put an end to the frustrating cycle of waiting and missing out.
Q. What are my options if I cannot qualify for the loan at the end of the lease-to-own option period?
A. You may sell the property and keep the profits if the home has appreciated beyond the contract purchase price. There are multiple ways of accomplishing this, which your local title company can explain. Of course you may also simply move out with no penalties at the end of your lease term with no further commitments. It's your choice.