Lease with Option To Purchase

If you need time to qualify to get a good mortgage, but want to get into home ownership now, lease with option to purchase and other similar programs are available. These programs are ideal for folks that have the income to afford a home, but fall into one of the following categories making buying not possible or impractical at the current time:

• Need time to improve their credit score?
• Need more time on the job to qualify for a bank loan?
• Need time to get “self employed” financial records in order?
• Lack the funds for a large down payment?
• Need time to sell a property in another city?
• Need time to complete schooling for a higher paying job?
• Need time to “test-out” the city, the neighborhood, the schools or the house?

An overview of the Lease with Option to Purchase program shown below is offered by many of our investor partners. To learn more about the creative home buying options offered in the Tenant-Buyer Program, contact us at 904-992-6490 or via email at Contact Us to schedule a free consultation to learn how you can get into home ownership.

Lease with Option To Purchase Overview

Purpose of the Program:
To assist good people to get into Home Ownership that currently have a challenge getting a traditional mortgage.

How It Works:

• You select the house (with our assistance) from all the homes
  currently for sale in Jacksonville. It can be new construction, For Sale By Owner or listed by a real estate agency. Any Property For Sale!
• A Capstone Investor buys the house you select.
• You lease the house from Carnegie Investment Services, and buy it from them 12 to 48 months later once you can qualify for a good mortgage in your name.

Program Features:

• No Bank Qualifying. Qualification is based predominantly on much you make on a monthly basis, before taxes.
• No Application Fees! No Upfront Fees of Any Kind!
  Move into your dream home now, treat it like you own and buy it once you are ready.
• Your rent is set so that it will be approximately the same as your mortgage* once you buy the house.
• Your purchase price is locked in from the start. Start building equity before you buy it!
• You get 100% of the option fee back, towards your down payment when you buy the house. The option fee is approximately 4%, but depends upon the value of the house you select. There are other options that require less up front money.
• We (Capstone Residential) help you find the house. You just tell us what you want and we will find and show you all the houses that meet your criteria.
• We, in coordination with the Capstone Investor, handle all the paperwork and details. You get to see anything you want, but do not need to worry about managing the details.

*Assuming standard rate sheet and program are used. 95% LTV, Tax and Insurance escrow estimates included.