Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.
Simply stated, a lease option allows you to move into a beautiful home in a nice neighborhood today, and apply for financing later. During this time you are building equity and repairing your credit. Specifically, it is a lease on a home (up to 36 months) with the option to buy the home at a pre-determined price.
