your desire to own a home is hindered by your bad credit, lack of
credit, self employment issues or you simply want to avoid the two
month financing hassle when going to a traditional lender then we can help.
is a Lease Purchase? You lease the home for a
specified period of time; usually up to a 3 year period, and during
that term you purchase the home for a predetermined price.
You sign a lease agreement with us and a purchase agreement
which would give you the exclusive right to buy the home. This
means that you and only you could buy the home during the term of
our agreement. 100% of your down payment is applied to the
purchase price of the home.
How did Lease Purchase Get
Started? Many people want to buy a home, but because of certain
events in their life they cannot buy right now. People have a strong
desire to own a home, but lenders are unwilling to help them.
This is where we can help . The Lease Purchase program was designed
to allow our customers to be on their way to home ownership with
less money down than conventional financing while they correct their
Does your down
payment go towards the purchase price of the home? YES, whatever money you put down on your home in our program goes 100%
toward the purchase price. No more wasted money on landlord
rents! So if you put $5,000 down on a $145,000 home you would
then owe only $140,000. The $5,000 is applied to the purchase
price of the home as part of your down payment requirement.
How much rent goes
towards the purchase price of the home? Stop throwing money away each month for an apartment. With our
Lease/Purchase Program a fixed portion of your monthly rent is
contributed towards the purchase price of the home. This rate varies
between $50 and $150 per month depending on the home and your credit
situation. For example: if you put down $5,000 on a home and
you were given a monthly contribution of $100.00 for 36 months you
would have a total down payment of $8,600.00.
BAD CREDIT workable?
Our main requirement is a good down payment, and a good job showing your ability to make monthly payments. We can work
with past credit issues, especially if they are older. You
should be current on any open credit accounts with on-time payments
over the last twelve months. We realize that people who put good down
payments together are serious about buying a home. To
learn how we can assist you with your credit issues please read
about our credit program.
What if I
have a Bankruptcy? If you have filed bankruptcy in the
past, the Lease-Purchase program may be a great fit for you to work
your way toward home ownership. In most cases, two to three
years need to pass after your bankruptcy is complete before you can
qualify for a mortgage. In our program, you have up to three
years to purchase the home with an additional year as an extension
if necessary. We do require bankruptcies to be discharged
prior to occupancy.
How much do I need for
a down payment? It will vary with your credit but most of the time it is
to 5%! We have worked with less, but keep in mind, the more money
you put down, the lower your monthly payment is.
long a time period can I go With a Lease Option?
Our Lease-Purchase buyers usually go up to three years in our
program before they buy. This gives them time to get their
credit cleaned up and to save some additional money for a down
payment if needed. They then go to the lender of their choice,
get a loan, and then they OWN THE HOME
What if I can't get a
bank loan within three years? We are always willing to renew
leases and to continue to work with our customers as long as it
takes. We have never asked anyone to move because they could not buy
the home. Some families have purchased after leasing for
How successful is the
Lease/Purchase program? Autumnwood
Homes has been very
successful in helping families obtain financing for their homes.
to read our testimonials. 95
have successfully purchased our homes after renting for a year or
How long does the
approval process take? In most cases we can approve you within
two business days of receiving a completed application
and $45 application fee.
Can you be flexible
with the down payment?
YES, we realize that putting
together a down payment can be difficult, so we do everything we can
to help make it as easy as possible. To help you get your down
payment you can :
have a good portion of your down payment now we can make
arrangements to take the remaining amount in future payments.
Borrow from your 401K or other
retirement accounts. Real Estate is the best investment you can
relatives or friends to lend or give you the money.
Autumnwood Homes provide appliances? Most of our homes come with
a dishwasher and microwave. Typically the customer provides
their stove and refrigerator. We do offer a 90 day payment
plan on new and used appliances on a case by case basis. You
can contact the office to inquire further.
How Can I Be Sure I am
Getting a Good Home? Autumnwood
Homes has been building
quality homes since 1987. View our Base
Specifications, or read what the Building Industry Association
of Central Ohio (BIA) and some of our customer's think of Autumnwood
Homes by viewing the Testimonial
section. Most of our homes offered for Lease/Purchase have been
built or remodeled by us. All of our newly constructed homes come complete
with a 3 year structural warranty and a one year warranty for the:
furnace, air conditioning, roof, sump pump system, disposal,
dishwasher, and microwave. Homes that have previously been occupied
come with a 30 day warranty. We also offer a Service
Plan with every Lease/Purchase, which provides the utmost
protection to our customers. We provide a convenient online
maintenance request form for our customers.
What is Autumnwood's
Pet Policy? A small dog under 35 pounds and over a year old would require an
additional down payment or deposit. We do not allow the following
types of dogs: Akitas, Alaskan Malamutes, Belgian Malinois, Chows, Dobermans, German
Shepherds, Great Danes, Huskies, Pit Bulls, Rottweillers, St Bernard,
American Staffordshire Terrier, Presa Canario, King Corso, Dogo
Argentino and Wolf
Hybrid. If you have other types of animals contact the office
to discuss approval prior to applying.
Is a Lease Purchase
Program Ideal for Someone with Good Credit? YES!
If you have good credit, your approval with us is automatic.
You can move into an Autumnwood
Home right away without any delays. Also, you could use that
time to shop for the best rates available for your bank refinancing. Furthermore, if you
should purchase the home within the first 6 months, we offer an
additional discount on the price. For more information call 614/433.9100
I am interested, What
do I do? Check our list of Available
Homes to find a home that is right for you. Call Autumnwood
for any additional information you might need, to schedule a time to
view the homes you are interested in, or to make an appointment to
complete an application. It is that easy!