How does our lease-to-own program work?

1. You fill out a questionnaire which helps us to determine your housing requirements.

2. We recommend that you meet with a mortgage broker to assess your financial situation, confirm the price range you qualify for and set a realistic qualification amount for the end of the lease term. They can also assist you in drafting a plan to ensure that you will qualify at the end of the rental period.

3. We work together with a Realtor to help you find one or more acceptable houses that are within your price range.

Early in the process we will introduce you to our lease / option contracts to allow you time to review the documents and seek any advice from other professionals (i.e.: lawyers, accountants etc.) whom you may want to have guide you through this process.

Once an offer is accepted, and an option-to-buy contract has been signed, we will then complete the transaction and close the sale. Prior to you moving in we will complete any necessary upgrades that have been agreed upon in the lease option and prepare the house with the necessary smoke detectors, fire extinguishers and carbon monoxide detectors.

We work together with you to determine a fair end purchase price. We base this value on current market conditions and reasonable forecasts of future value.

You pay a deposit of $6000 - $10,000 (the exact amount depends on the price of the house), we purchase the house, and you can move in!

What are the benefits for the lease-to-own client?

• Your rent is fixed throughout the length of the rental period.

• When you pay your rent on time each month you will accumulate rent credits.
• Our program is designed ensure that when you purchase you will have the required down payment to qualify for the mortgage on your new home. This is done using a combination of your initial deposit and the accumulated rent credits that you earn during the lease term.
• You can make improvements to your home during the lease term which will often improve the value.
• Your purchase price is set at the beginning. If the property appreciates significantly, YOU profit. Your purchase price cannot be changed.
• Large repairs to the home (above $500 per occasion) during the lease term are covered by OK Home Connections.
• Click here to take our Client Questionnaire.