Homebuyers are motivated by a dream

It is the dream of every North American to own a home someday.

We are specifically talking about homebuyers who applied for mortgages but were rejected.

They may even have tried to get a mortgage for "people with bad credit" -- and were still declined.

What about those who did not even try to apply, because they don't believe they could get a mortgage.

These homebuyers want to switch from throwing away their hard earned money on rent to building equity in their own home.

There are several important factors that motivate these homebuyers to get them to make the transition from rental to home ownership:

1) Pride of ownership.

2) Knowing that nobody can ask them to leave and sell the house from under them.

3) The opportunity to remodel the house to their liking.

4) The opportunity to tell their friends and relatives 'they bought a house'.

These homebuyers are concerned with both price and payments, but mostly to the extent as to whether or not they can afford the payments and ultimately qualify for a mortgage.

The most important thing for them is the fact they can buy and own the home now.

What is "Lease to Own"

"lease to own" is where a qualified tenant rents a house or condominium for a predefined period with the intent to purchase the house at an agreed time in the future for an agreed price.

They are willing to pay a premium on their rent which will be returned to them if they chose to purchase the property.

At the end of the lease to own term, they have the option and not the obligation to purchase the home.