| Lease Purchase Program We have two main programs available to help you own your next home: PURCHASE WITH OR WITHOUT OWNER FINANCING This program involves working with our mortgage broker or other financial institution to obtain a loan for the purchase of your new home. In many cases the purchaser is capable of financing on there own using various loan programs. These programs can be for up to 100% if the purchase price, with closing cost covered by Ameri-Dream or other programs. We will look to see what is the best choice for your situation. RLM Properties, Ltd., will in some cases carry a second mortgage for 5% to help cover the purchase costs. This second mortgage note can be on very easy repayment terms to help the sales process. LEASE OPTION PROGRAM The LEASE OPTION combines both a lease agreement and an option to purchase agreement. The lease agreement is a rental contract with a special benefit. A portion of your lease payment May credited towards the purchase price of the home. Your rent payment is finally working for you, instead of vanishing each month. The option agreement allows you to lock in the price of the home today and enjoy the benefit of appreciation as the home increases in value. Let's look at a typical example of acquiring a home using the LEASE OPTION: Sales Price: $80,000 Option Money (down payment): $3,000 Monthly Rent Payment: $800 Monthly Rent Credit: $200 At the end of 12 months, you will have at least $5,400 in equity. $3,000 option money plus the rent credit ($200 X 12). You will get a matching credit toward your purchase price using our Down Payment Assistance Program. Pay, for example, an agreed $100 extra each month, and we will match the entire amount with an additional credit. This extra amount can be from $25 to $500, however it must be paid every month. You would only need to get a loan for $74,600. Around the 12 month point (or sooner), we will be working with you to get the financing to purchase the home. We have a working relationship with a local mortgage broker who is able to find financing in most situations as long as you have paid the rental payments on time and other obligations were paid in a timely fashion. If at a later date you see one of our other houses you like better, and have entered into a Lease Purchase agreement with RLM Properties, Ltd. You May transfer your credit to the new house. You will still need to pay the new option consideration on the new house, but your credit on the old house is moved to the new house. (Some restriction May apply) Click here for Available Homes |
| RLM Properties, Ltd 716 Miami St., Urbana, Ohio (937) 484-5803 |
