Lease Option / Rent to Own Program

Maybe you're a hard working responsible person but you've been turned down for a traditional mortgage for one reason or another.  It could be that you're self-employed and have trouble qualifying.  Or maybe you've had some financial difficulties in the past and it has affected your credit.  Maybe you've been through some life challenges which set you back such as death, divorce, or bankruptcy.  We understand that difficult circumstances affect good people.  That shouldn't preclude them from obtaining home ownership if they are responsible citizens who are able to make their payments on time and care for a home properly. 

Our team will work 1:1 with you on a plan to help you become a home owner in 2-3 years through our lease option/rent to own program.  We can also help you repair your credit if that is an issue.

Take the first step by completing our Tenant Buyer Questionnaire and we will be in touch with you very soon to set up a consultation.  We look forward to working with you on the exciting path to home ownership!

Who needs a Lease Option?     There are many reasons people need to have a lease option.

From the Optioner's (seller's) point of view: 

Behind on payments:  When a homeowner is behind on payments, their options of getting their house sold or catching up on their payments may be very slim.  A lease option can solve both of these problems.  

Can’t Sell: When a market or property makes selling the property difficult, a LO allows the seller to get monthly payments on their property with a pre-determined sell price at a pre-determined price point in the future.       

Tired Landlords:  When a homeowner becomes a landlord on a property, they realize that it is not easy.  If we can take over their “problem” by doing a LO, we can also solve their problem while helping them make money.      

Inherited Property: Many times, people inherit properties from family members.  Just because a family member has property doesn’t mean a relative wants it, even if they don’t have to pay for it.  Not everyone is cut out to be a property owner. Many people will feel it is a burden rather than a benefit.  These new owners can quickly become tired landlords and will need or want to sell the property.       

Financial Issues:  Property owners can become financially unstable for many different reasons. It may even be beyond their control.  The property can become a way for someone to cure their financial issues. If we can take over their monthly payment “burden,” we can create a win-win scenario for the homeowner.      

Sellers please contact us directly at info@waymakerpropertygroup.com to set up a consultation. We would love to partner with you!

Optionee's (Purchaser/Tenant Buyer) point of view:     

Credit Issues: Owning a home is a dream for many people.  Unfortunately, having bad credit can keep someone from realizing this dream.  Through LO, we can help someone become a ‘homeowner in training.’  A tenant buyer is a tenant with the option to buy the property in the future.  The tenant-buyer can live in the house they will eventually buy.  Throughout this time, the investor and the tenant-buyer can get the tenant-buyer qualified and improve their credit.       

Lack of down payment:  Getting a mortgage is not only about having good credit.  Many lenders require the borrower to have “skin in the game.”  This down payment can be a significant amount of money that many people aren’t prepared for when getting a mortgage to buy a house.  It is not uncommon for people to live paycheck to paycheck and not save money for a down payment.  A-LO can get a tenant-buyer into the property they want as a tenant while saving money for a down payment to become the property owner.       

Self-employed people: Self-employed People enjoy the benefits of having write-offs to lower their taxable income.  These write-offs are a double-edged sword when it comes to qualifying for a mortgage to buy a house.  A lender will want to see proof of income to get the mortgage.  When you use valid expenses as write-offs against your income, your taxable income goes down.  Lower income means a lower tax burden and means you won’t qualify for as big of a mortgage.  A-LO can help a self-employed person get into the place they want to live as a tenant with the option to buy in the future.  In this situation, the tenant-buyer will have to show more income for a couple of years to qualify for the mortgage.       

New Immigrants:  Many people from other countries move to the U.S. for a wide variety of reasons.  When someone moves from another country, they don’t have any credit history established in the U.S.  Having bad credit is a challenging hole to climb out of, but having no credit is harder.  A person needs a history of credit before a lender will qualify them for a loan.  It generally will take a couple of years for someone to get history.  A-LO for a potential homeowner allows them to get into the property they want as a tenant-buyer now with the option to buy it later.       

Other Financial Issues: Financial issues can happen to anyone.  The goal of a lease option from the buyer (optionee) point of view gives them choices or “options.”  Without these types of options, a person’s only choice is to be a renter.  The best way to look at lease options from the purchaser’s point of view is a bridge to help them over a situation until they can get qualified to buy the property.  The LO gives them time to fix the problem while living in a property they want to believe in the future.

Complete our Tenant Buyer Questionnaire and we will be in touch with you very soon to set up a consultation.  We look forward to working with you on the exciting path to home ownership!