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Frequently Asked Questions
1. What is Lease To Own?
Lease to own enables you to move into a property with a lease agreement which
gives you the option to purchase the property at a later date at a set price.
USA Lease rebates anywhere from 25 to 50% of lease payments toward purchase
depending on the property. Also, this is only an OPTION to purchase. You are not
obligated to buy the property after fulfilling the lease term.
2. Why Lease To Own?
Lease to own allows people with difficult circumstances such as bad credit,
insufficient down payment, divorce, corporate relocation, bankruptcy, etc to
move into a property immediately, and begin accruing rent credit toward
purchase. The lease term allows plenty of time to get into good credit standing
or other issues.
3. Do you help with credit repair?
While we will evaluate your credit report and advise you on what steps to take
over the following year, we are not a credit repair agency. It is up to you to
do take the proper steps to credit repair during the lease term.
4. Are you a mortgage broker?
No. We have no vested interest in which mortgage broker you use. If necessary,
we can refer you to mortgage brokers with which we have a proven track record.
Ultimately, it is up to you.
5. What do you look for in a credit report?
Our program is not for everyone, and we only accept individuals which are
showing the desire and ability to correct their credit flaws and attain the
American Dream of home ownership. While bad credit is okay, the right attitude
is essential. We strive to set our clients up for success.
6. How are payments determined?
While we cannot predict future interest rates, monthly lease payments are
approximately what you can expect your mortgage payment (plus taxes and
insurance) to be after you assume ownership of the home.
7. What is an option fee?
An option fee gives you the option to purchase the property at a later date at a
set price.
8. Why is there a security deposit?
As it is only an option to purchase, if you decide to not purchase the property,
we need security that you will maintain the property in good condition. Upon
purchase, or satisfactory fulfillment of lease terms, 100% of the security
deposit will be returned.
9. What if the property is worth significantly more than the option price?
We are obligated to sell you the property at a set price regardless of where the
property's value is when you exercise the option. In many cases, clients have
instant equity when they exercise the option to purchase.
10. Are pets allowed? How about remodeling?
Pets are allowed.. it is your home! However, if you choose not to exercise the
purchase option, you are responsible for all damages to the property!
Alterations to the property must be cleared thru us before being undertaken. In
very few circumstances is this a problem.. we want you to think of it as your
home!
11. It sounds to good to be true!
It is a fantastic situation for the right individuals. We pride ourselves on
being able to help people who are coming out of difficult circumstances from all
walks of life achieve the American Dream of Home Ownership. We personally have
been in a situation where we could afford a home, but were unable to get a
mortgage because of bad credit and self employment issues. USA Lease is the
answer for individuals like us who deserve a second chance! Fax in an
application, or call us today at 310-617-1875 in California, or 856-221-3232 in
New Jersey for more information!
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