At IPS Amarillo Homes, we understand how difficult it can be to purchase a home when you have extenuating circumstances. Maybe your credit score is lower than you would like or perhaps you have been denied in the past. Maybe you haven’t saved up money for the downpayment or just don’t know where to start.
Whatever the case may be, our Lease with Purchase Option Program is designed to give you the option of purchasing your home and stop losing all your monthly investments to rent. You can choose to pay an option fee (which reduces your monthly payment), or you can choose not to.
If you choose to pay an option fee, that payment will go toward the purchase of the home. You can buy the property at any time during the lease period. You can complete the term of your lease and decide not to purchase the home. The choice is entirely up to you!
When you sign on, you can pay an option fee in increments of $1,200 up to $3,600. We will lower your monthly payment in proportion to the option fee amount you choose.
The second part of the program applies regardless of whether you choose to pay the option fee or not. We will give you a $200 monthly credit toward the purchase during the first year of your lease. You can exercise your option to buy at any time during the lease period.
For example, if you choose to pay $3,600, we will lower your monthly payment by $300. Plus, we’ll give you full credit for the amount of the fee you pay.
Here’s how this might look in action:
Monthly lease payment : $1,550
Option fee paid : $3,600
Payment reduction for fee : $300
Payment after option fee : $1,250
If you decide to purchase the home, you will automatically have credit for the $3,600 applied to your down payment and $200 credit per lease payment made during the first year. This equates to $2,400 in closing cost credit in addition to the amount of the option fee you paid. It’s that simple!
And if money is tight, you don’t have to pay the full $3,600. You can choose to pay $1,200, $2,400 or $3,600. Your monthly payment will be reduced accordingly by $100, $200 or $300.
In addition to your option fee, we will give you a $200 credit per lease payment during your first year, which would be applied to your closing costs.
“If you’re skeptical about lease to purchase, it’s worth it. It really is. Now we have this huge home and it’s ours.”
"Being in your early 20s and trying to buy a home, that’s such a daunting thing. Having a lease with purchase option makes it a whole lot easier and affordable."
"The process was extremely easy. We went in renting and after about a year, we opted to buy the house. It took 2 weeks at top. Super smooth."