Lease Purchase Program

Lease Purchase Program


Fellwood Properties Lease/Purchase or Rent to Own programs have been developed to help those who do not qualify for a mortgage, but would still like to realize their dream of owning a home.

  • The purchase of the home, as well as the monthly lease payment is determined up front. The price, payment and terms are fixed for a period of time, usually 18-24 months. This is known as the purchase option period.
  • You pay a small amount up front, usually 3% – 10% of the purchase price. This is the purchase option payment.
  • Once you are in a position to purchase the home (which can be anytime during the option period), Fellwood Properties will credit the option payment amount toward the purchase of the home.

 

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