Lease option homes

Aug 18th 2011, 03:12

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Description

A lease selection home obtain (also hire to individual obtain or lease to personal) is a lease-agreement combined with an choice-agreement to pay out for the home within a stipulated time, normally three years or fewer, at an agreed expense. The borrower pays an option charge, one% to 5% of the price, which is credited to the obtain worth. The borrower pays a regular monthly lease, and an extra hire payment that is also credited to the purchase price.