Benefits of a Lease Purchase
Some of the benefits of a Lease Purchase
Buying a home is one of the smartest investments you can make. But perhaps credit problems, divorce or life in general has prevented you from the joy and security of home ownership.
Our rent-to-own program is simple, and is designed to help you move from House-Renter to Home-Owner in a matter of months. You’ll earn “rent credit” every month for making your rental payment on time which accumulates quickly to go toward your equity for home purchase. Then when you’re ready to purchase your home, you’ll have access to thousands of dollars to use for closing costs.
Plus - we also set the sale price of your home at today’s fair market value for the next three years! This gives you a fixed purchase price to work toward. Most homes appreciate at least 3% each year which means the value of your purchased home can be many thousands of dollars over your set purchase price.
Your equity grows faster than if you had a traditional mortgage. For example a $120,000 house will result in $3600 in equity during the three year lease purchase.
Minimum cash required to move in
When purchasing a house you need 5% down payment and several thousand dollars for closing costs. With the lease purchase you need just $1000 plus the first months rent.
Usually no down payment needed at closing
When you purchase the house you will have accumulated thousands in rent credits that can be used to cover the down payment.
Fixed Price
Before you sign the lease you will know what the price will be when you are ready to exercise the option to purchase the house
Any appreciation is yours
Since the price is fixed anything that you do to increase the value of the property will result in increased equity for you.
Credit Problems OK
Simple application process not restricted by current credit report. You will have time to repair credit before applying for traditional finacing.
Congratulations,
You have taken the first step towards home ownership by visiting this web page.
But, how can Triad Lease Purchase help you to purchase a home:
We buy nice houses in great neighborhoods and then use a "rent-to-own" program so that you can buy the house at a fair market price.
We offer you a two year lease so that you have time to save for a down payment or repair your credit before applying for a bank loan all while living in the house that you will buy.
We provide multiple rent options to suit you, whether you need a low deposit but have good income or you have some money saved and would like a lower monthly rent. We also have a ready to buy option that really helps you quickly build equity in the house.
We help you save for a down payment by providing a purchase credit each month you pay the rent on time. This forced savings accumulates and is available when you purchase the home.
Finally we have an exciting "Customized Rent-to-Own" program. Contact us and tell us what you are looking for in a home and if we purchase a property that matches your criteria we let you have a no obligation viewing before we renovate. If it is perfect for you then you get to choose the paint, fixtures, landscaping and anything else that it needs to make it your custom home. Click the link below for more details on this great program.
How does the "Triad Lease Purchase" work
“Simply – we allow future homebuyers to select and live in the home of their dreams now, lock in the purchase price and monthly payment and, if needed, use a three year lease period to re-establish their credit before buying the home”.
Lease purchase or rent-to-own is a way to begin living in your new home while saving for a down payment or to qualify for credit.
Step 1: Choose a Home
“Triad Lease Purchase” buys homes in the Triad area, repairs and updates them then makes them available to you in ready to move in condition. Your first step is to select one of our available properties and confirm you have the required deposit.
See frequently asked questions on Step 1.
Step 2: Completing the Application
You can obtain a application by:
1. emailing, application@TriadLP.com
2. calling 287 0137
3. completing the Information submission page
Once and application is received and the $20 application fee is paid your application for the home will be considered. Areas considered on the application.
1. You have stable income.
2. You have a balance between income and debt.
3. Your past credit indicates you will make your payments on time.
See frequently asked questions on Step 2.
Step 3: Sign Lease and Move in
After signing the lease, paying the first months rent, security deposit and option fee you will receive the key to your new home. Remember during the lease period you do not own the home; you are encouraged to treat the home as if it were your own. For example, you will be responsible for normal maintenance and upkeep of the house and yard. Also with each on time payment you will give you more money towards your down payment. With the approval of “Triad Lease Purchase” you can make improvements yourself to the home, remember the final sale price is fixed so any improvements will build your equity in the property.
See frequently asked questions on Step 3.
Step 4: Purchase the Home
During the three years of the lease you will have worked diligently with your loan officer to qualify for a loan. If you have made all your payments on time you will have thousands to help with the down payment and closing costs. In fact you can purchase the home before three years if you are ready. At this point you will begin to make mortgage payments to the bank and you will have all the rights and responsibilities of homeownership.
See frequently asked questions on Step 4.
Request Application
“Simply – we allow future homebuyers to select and live in the home of their dreams now, lock in the purchase price and monthly payment and, if needed, use a three year lease period to re-establish their credit before buying the home”
RENT to OWN
Winston REAL ESTATE GROUP
Your Housing Solution Buying, Selling, Education or Investing
Office: (336) Cell: (336) 287 0137 Email: info@triadlp.com
Frequently asked questions on Step 1: Choose a Home
Q. How does a Lease Purchase Work?
Answer:
There is four steps to the lease purchase.
Step 1:choose a house from one of the available properties.
Step 2: Complete an application and confirm that you can pay the monthly rent.
Step 3: Sign a lease and pay the first months rent, security deposit and option fee.
Step 4: Move in and enjoy your home. At any time during the option period you can purchase the house.
Q. What are the benefits of Lease Purchase over Renting or Purchasing?
Answer:
Lease purchase offers many advantages over renting, firstly you are building up equity towards purchasing a home. You can live in your home while repairing your credit.
Lease purchase offers many advantages over purchasing, including lower initial costs, ability to try before you buy, faster accumulation of equity and quicker application process.
Frequently asked questions Step 2: Completing the Application
Frequently asked questions Step 3: Sign Lease and Move in
Frequently asked questions Step 4: Purchase the Home