Lease To Own Homes In Columbia SC Meg Liles Exit Midlands Realty

Lease To Own Homes In Columbia SC Meg Liles Exit Midlands Realty

Lease to Own Homes in Columbia SC 

If you're a buyer who doesn't quite qualify for a conventional home loan, one promising avenue to home ownership is rent-to-own. But while this approach may seem appealing, buyers need to understand the advantages and disadvantages.

In a rent-to-own, also called lease-option, you and the seller draw up a contract detailing monthly rental payments and expiration date, typically 12 months to 36 months. You pay an upfront deposit (also called an option fee)—usually 5% of the home's purchase price—that, although hefty, is often less than the down payment required for a low-rate mortgage loan.

A portion of each month's rent is income for the seller, but the other part is a "credit" toward your eventual purchase of the house. When the contract terminates, you can either put the deposit and rental credits toward a down payment, or opt out and lose what's been paid in.

Lease-Option homes for sale in Columbia SC

Lease- Option Homes for sale in Chapin SC

Lease-Option Homes for sale in Lexington SC

Meg Liles Headshot
Phone: 803-477-6685
Dated: August 30th 2015
Views: 20,042
About Meg: Hello! Let me introduce myself. I am Meg Liles, a real estate professional with EXIT Midlands Realty...

7 Responses

  1. Mitchell Wanda62



  2. Pushathoughts01

    Im trying to get a rent to own home can you please contact me at 8434410378


  3. Michellemanning6

    I would love to learn more about your rent to own option homes. Please contact via email


  4. Shonda Borders

    Hello.. I have interest in a rent to own home.. pls contact me at 2014230040.. Thank you


  5. James Brunson

    Im interested in a rent own please contact me @ 8035421371\r\n


  6. Page Amos

    Im interested in a rent to own home pls call me at 8034223201. Thanks!


  7. Rasheedarobinson60

    I am interested in rent to own home. My name is Rasheeda. 8037473211.


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Location & Address

EXIT Midlands Realty
PO Box 807
Chapin, SC