- You don’t need a down payment more than 5% of the purchase price.
- No qualifying through a bank.
- Learned responsibility of owning a home.
- Bad credit is ok.
- Part of your rent may go towards a down payment.
- You don’t have to wait as long to move in.
- You can make home improvements that you know will benefit you in the future.
- The sales price will be locked in, even if the market value goes up.
- You can save for the home and live in it at the same time.
- Gives you time to meet the requirements of conventional loan without losing the opportunity of getting the home you want.
- Since you gave the landlord a down payment at the signing of the lease option, you won’t have to have a down payment when you go for a conventional loan.
- You will be in control of the home without owning it.
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