| An example of a Rent-to-own property | ||||||||
| Analysis of a Rent-to-own/Lease Option for the Renter/Home buyer | ||||||||
| Current Value | ||||||||
| of the house | $ | 185,000 | ||||||
| 1 Year Lease Option | 3 Year Lease Option | |||||||
| Initial Deposit | $6,000 | $6,000 | ||||||
| Monthly Rent | $1,188 | $1,188 | ||||||
| Monthly Option | ||||||||
| Premuim | $188 | $188 | ||||||
| Total Monthly | ||||||||
| Payment | $1,375 | $1,375 | ||||||
| Additional Monthly | ||||||||
| Option Bonus | $200 | $200 | ||||||
| Purchase price of | ||||||||
| house at the end | ||||||||
| of the lease term | $ | 189,625 | $ | 209,062 | ||||
| Down Payment | ||||||||
| Credit at purchase | $10,650 | $19,950 | ||||||
| % Down available | ||||||||
| at the end of lease | 6% | 10% | ||||||
| Monthly mortgage | ||||||||
| payment after | ||||||||
| purchase | $1,153.14 | $1,218.45 | ||||||
| Interest rate | 6% | 6% | ||||||