Lease-Purchase
A lease-purchase agreement helps borrowers ease into the benefits of homeownership.
- Up to 85% LTV
- LTV based upon appraised value vs. purchased sales price, allowing borrower to receive credit for equity growth
- Ability to borrow up to 100% of the sales price, depending upon appraised value
- Must have canceled rent checks
- Primary home
- Credit scores staring at 680
- Agreement must have been executed over 12 months ago to use the appraised value
- Loans up to $3 million
- Title must be transferred to borrower at closing
- Purchase only