What is a Lease-Purchase?
A lease-purchase is an agreement to rent a home and the option to purchase it with the closing sometime in the future. It comprises two agreements: A standard lease agreement and an option to purchase agreement. A lease-purchase is a way for your family to live in the home that you intend to purchase prior to qualifying for a mortgage loan. People sometimes may need a couple of years to repair credit issues. This is how our program can help. Ryland Portmann homes are available for lease-purchase giving you the exclusive right, but not the obligation, to purchase the home sometime in the future. Usually within one to three years. However, you may elect to exercise your option to purchase at any time. A lease purchase is one form of owner financing. Call us for details on other programs available.
