Lease Option

Lease Option – A different form of financing where a lease is entered into and the tenant has the option to purchase the home at the end of the lease. Extra rent may be paid to have it applied to the down payment.

  • Example: If there is a willing seller, sometimes a buyer can use a lease option to purchase a property if they are low on cash. They will pay a little more rent each month, which will be applied to the down payment.
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