Is Lease-To-Own Right For Me?

If you are currently a renter, chances are, lease-to-own is an excellent choice for you. Lease-to-own offers many benefits over renting. The most obvious benefit is the chance to escape the rent race and achieve the dream of home ownership. But you will find that the benefits of Lease-To-Own are so numerous that deciding to apply will be an easy choice!

Lease-to-Own financing means you’ll need up to 60% less cash to move in and to own.  And your cost of starting the program is an amount similar to a first month’s rent and security deposit payment.  

All of which makes you wonder why rent, when you can lease-to-own?


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Benefits of Lease-To-Own:

    * Easy To Qualify
    * Save Money vs. Renting
    * Improve Your Credit
    * Competitive Interest Rate*
    * Choose Your Own Home
    * Get More Space With A Home vs. Apartment
    * Build Equity To Increase Your Wealth
    * Get A Tax Deduction*

*Indicates benefits you will have after assumption at the end of the lease period.
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How Do I Know I Will Qualify For Lease-To-Own?

The only way to know for sure if you qualify is to submit an application.
Before applying, answer the questions in our online checklist.  Your answers will help you decide if LTO is right for you.



How Does Lease-To-Own Work?

The new Lease-To-Own program from Community Empower is an opportunity for you to achieve the dream of home ownership with no down payment. This program allows you to lease the new home of your choice for up to 18 months. During the lease period, you will work with Community Empower to improve your credit so you will be qualified for a mortgage loan at the end of the lease. After you qualify, you'll take-over the mortgage payments and become the homeowner!

Step One: Apply Online. In order to get started, you must apply to find out if you qualify for the program. After submitting your application, a counselor will contact you to inform you of your qualification status and next steps. If you are pre-qualified for the program, your counselor will ask you to provide additional documentation.

Your counselor will discuss the benefit of a 4-month enrollment in our ScoreManager credit program regardless of whether you are immediately qualified for the program. ScoreManager will provide a comprehensive monthly strategy to help you work toward your ultimate goal of home ownership. ScoreManager will help you qualify for the program. It will show you how to increase your score and help you correct any credit issues that might keep you from qualifying. ScoreManager is required for all tenants in our program.

Step Two: Choose A Home. If you are approved for the program, our real estate team will work with you to find the perfect home. You may have the opportunity to choose from many homes in your area. Learn more about which homes qualify.

Step Three: Sign Your Lease And Move-In. After you sign your lease-purchase agreement, pay your Program Fee and first month's rent, you'll get the keys to your new home! Move-in and start enjoying your new living space. During the 18-month lease period, you will be enrolled in the ScoreManager - which will help you to improve your credit in preparation to assume the loan at the end of the lease.

Step Four: Become The Homeowner. By the end of the 18-month lease period, you will have worked diligently to achieve the loan requirements. If you make all your lease payments on time, and meet the assumption guidelines, you'll be eligible for a mortgage loan and become the homeowner. In fact, you may be able to qualify for your loan before the end of the lease, if you improve your credit and meet the guidelines. At this point, you will no longer make a lease payment, instead you will pay the mortgage payments directly. You will have all the rights, responsibilities and tax deductions of home ownership!