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Renting with a lease option to purchase is an alternative to conventional home financing.

Renting a house with the lease purchase option can help you beat the rising cost of home prices. Generally, the renter signs a 12- or 24-month agreement with the property owner. During this time, the renter repairs their credit and saves the required down payment needed to obtain a conventional mortgage loan. When the initial lease period is over they can obtain a mortgage for the remaining balance of the “option,” or purchase price of the property. In some cases, when a property is rented with the option to buy, a portion of the rent each month and the down payment may be able to be applied toward the purchase price.


1. Save enough money to cover the down payment or “option payment.” The option payment is a deposit that is paid to the property owner when the lease-to-own agreement is signed. Generally, the option payment is applied to the purchase price.

2. Meet with the property owner and discuss the terms of the rent-with-option agreement. Fully understand the terms of the agreement and the expectations of the property owner before entering into a lease-to-own agreement.

3. Meet with a mortgage lender to discuss the terms of the contract. Make sure you will be able to qualify for a mortgage once the rental period has expired.

If you have any questions on how to pursue such option please feel free to give us a call. Further, Credit Team USA has works with some of the top mortgage lenders in the country who will be able to help you faciliate your next mortgage loan.

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