Street View

Front

Front

Side View

Yard and Tree Swing

Side Entrance

Back View

Entrance

Living Room with Fire Place

Living Room to Dining & Kitchen

Dining to Living Room

Kitchen

Kitchen view 2

Kitchen view 3

1st Level Bath

Upstairs Hall

Family Room

What is a Lease Option and how does it work?

    * It is simply a rental agreement, combined with an option agreement, which gives you the 
       right to purchase a home at a set price, one day in the future. You control the home and, 
       treat it as your own.
    * What is required is one month's rent, one month's security deposit, and an option fee.
    * The option fee is negotiable. Obviously as the seller, the more the better, and needs to be 
       significant enough to entice the seller to want to take a risk on you.
    * The option fee and the security deposit both get applied toward the purchase, and count   
       as down payment. The higher the amount, the easier it will be to get your mortgage in the
       future.
    * Depending on the total amount you have available to get into a nice home, part of the rent 
       may also be applied toward the purchase.
    * The objective is for you to qualify and get your own mortgage a.s.a.p. We set you up with
       loan officer who puts together a game plan so that we both know what you need to do 
       and how long it will take for you to be in a position to qualify for your mortgage.

 Enjoy home ownership today!
 We can make your dream of owning a home come true. With this program there are:

• Also called Contract for Deed, Land Sale Contract.
• Is simply where a seller is willing to play the role of the bank and finance the purchase. You make payments to the seller just like you would to a bank or mortgage company.
• Your down payment while negotiable, needs to be significant enough to entice the seller to want to take a risk on you.
• You get to deduct the monthly interest payment, property taxes, and insurance from your income taxes. So Uncle Sam is helping you to make the payments.
• The objective is for you to qualify and get your own mortgage a.s.a.p. We set you up with loan officer who puts together a game plan so that we both know what you need to do and how long it will take for you to be in a position to qualify for your mortgage.
• Each payment you make helps you to build up equity in the home. Equity is the difference
  between what a home is worth and what you owe against the home. For example: Value of a home $100,000 minus $85,000 mortgage, leaves you with $15,000 in equity.

Price                    $100,000
Down payment       10,000
Owner financing      90,000

At 8.5% interest        $692.01 monthly principle & Interest payment
                                               amortized over 30 years.     
Plus taxes & insurance+ 108     (estimated)
Your monthly payment $800

There would be a Balloon payment in 2 years. Which means you would
then refinance and get a bank mortgage to pay off your owner financed mortgage.

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WATKINS

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