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FASTER HOME EQUITY GROWTH.
Your home equity can accumulate faster than with conventional financing. |
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YOUR RENT IS BECOMING YOUR DOWN PAYMENT.
Each month you pay rent, many times a portion is credited toward your down payment or it can come off the sales price. |
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MINIMUM 'OUT-OF-POCKET' CASH.
When you purchase a home using conventional financing you must also pay such items as: Closing costs, prepaids (taxes, insurance, etc.) AND a down payment.
With a lease purchase pay ONLY the first month's rent and a down payment. You'll save anywhere from 25-85%!
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USUALLY ANY CLOSING COSTS WILL BE PAID BY THE SELLER OR ADDED INTO THE LOAN AMOUNT.
Since you have given the seller or landlord a down payment AND a substantial amount of your monthly rent has been credited toward the purchase, usually there is very little or NOTHING that you'll have to come up with for a down payment at closing. |
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YOU HAVE MORE BUYING POWER WITH THE
LEASE PURCHASE.
You can lease purchase a home for as little as the first month's rent and a down payment. You can compare that to a conventional lender that will require 5-20% down PLUS closing costs and prepaids! |
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YOU MAY BE ABLE TO SELL THE CONTRACT!
If you are allowed to 'assign' your interest in the home you could SELL IT to another interested buyer. |
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CREDIT PROBLEMS ARE A-O-K.
Restrictions on qualifying for a lease purchase ARE NOT as strict as in conventional home financing. Therefore, your seller or landlord has complete discretion on what they will accept. |
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LEGAL CONTROL OF THE HOME.
In a lease purchase you have LEGAL CONTROL over the property during the contract period without having to actually OWN the property. |
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MAXIMUM LEVERAGE WITH MINIMUM OUTLAY.
Your real investment (cash) is substantially lower than conventional financing WHILE you have LEGAL CONTROL over perhaps the largest investment in your lifetime. |
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TIME.
You'll have plenty of time to repair credit, secure the best financing and investigate the home and surrounding neighborhood - all BEFORE you actually buy the home. |
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PRIVACY IS ASSURED.
Since you are not listed as the property owner (until you actually complete the purchase) there will be no public record of where you live. |
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