A healthcare worker, Erica loved Albuquerque’s west side and wanted to buy a house in a great neighborhood with a pool. However, she had recently gone through a divorce, which left her with a sub-par credit score that prevented her from getting a traditional loan through the bank now.
Erica saw one of our ads, a 3-bed 2-bath house, and wanted to take a look. She contacted us, we arranged a meeting to see the house, and she loved it! We then began the lease-to-own process.
Our lease-to-own program allowed her to live in the home of her dreams while giving her time to restore credit. The process was simple and only required her to sign two documents: an Option Agreement and a Lease.
Two years later, Erica, with the help of one of our mortgage provider referrals, purchased the home and is happily settled in her new home.
How it worked:
- The process was easy: Erica responded to an ad we posted on our website, filled out our Homebuyer’s Application, and submitted it to us.
- We followed up with a discussion with her about her home needs and financial circumstances, and we determined that our lease-to-own program would be a great fit!
- Erica signed her paperwork (which locked in her home purchase price and monthly rent amount), paid her deposit, and began living in the home she knew she wanted to buy.
- Erica made her lease payments and worked on improving her credit. She originally had three years to get her credit in shape to qualify for her loan, but she was able to do it in two!
- At the end of two years, Erica’s credit was restored to a point where she got a traditional loan and she was able to move forward as a new homeowner!
Because of our lease-to-own program, Erica was able to acquire a wonderful home in spite of originally having sub-par credit, her price was locked in for the three year duration, and she was able to move into the home of her dreams before she was actually able to qualify to buy it!
If you, like Erica, want to be a homeowner now but need more time to qualify, we can walk you through our easy lease-to-own process to ensure that this program is a good fit for you and your family.
If you would like to learn more about our lease-to-own program, give us a call at (505) 982-4116.