Our Lease Option Program

Why choose us?

At Lotus Horizons, we advocate for transparency in our process and are dedicated to your successful completion of our Lease Option Program:

You know upfront what the program is about

At the beginning of the program, we’ll explain to you in detail:

• How the program works
• How long it will be for
• How much you will pay to purchase the home if you decide to exercise your option
• What the monthly payments will be so you can plan your finances well in advance towards owning the home

You can move into your new home quickly

We can help you move into your new home of choice typically within 2 to 3 months of beginning the program.

We will support you throughout the program

Together, we’ll develop a customized financial plan specific to your circumstance. You’ll need to provide the effort and commitment to get to the finish line, but we will work with you to devise a clear road map with specific milestones to qualify for purchasing the home.

Throughout the program, we’ll check in with you and answer any questions you may have on your path to home ownership. We’ll work closely with you to save up for your final deposit and provide advice on how to budget and manage your finances as necessary.

We know it can be a daunting journey but we’ll be here to provide the support you need to succeed.

The steps

Step 1: Fill in the application here.

Step 2: Schedule an initial consultation.

Step 3: On acceptance into the program, remit the commitment fee.

Step 4: Work with us to develop a tailored financial plan and Lease Option Program.

Step 5: Determine a home purchase price based on your needs and financial circumstance.

Step 6: Shop for your new home.

Step 7: We purchase the home of your choice.

Step 8: Sign the Lease Agreement and Option to Purchase contract.

Step 9: Move in to your new home!

Step 10: Exercise your option and qualify for a mortgage to purchase the property.

Step 11: Officially become a homeowner!

Step 1: Fill in the application here or contact us for questions.

Step 2: An initial phone consultation will be scheduled with you to understand your current financial situation and needs. If you haven’t already filled out our application, you may be asked to fill it out prior.

Step 3: On acceptance into the program, you will be required to pay a non-refundable commitment fee of $1,000. This amount will count towards your contribution of the Initial Option Consideration for your new home.

Step 4: Together, we will develop a customized Lease Options Program to get you on track to becoming a home owner and determine a program length based on your financial situation.

Step 5: A home purchase price will be determined based on your needs and financial circumstance.

Step 6: Shop for your new home.

Step 7: We purchase the home of your choice.

Step 8: Sign the Lease Agreement and Option to Purchase contract.

Step 9: Move in to your new home!

Step 10: Exercise your option to purchase at the end of the Lease Option Program and qualify for a mortgage to purchase the property.

Step 11: Officially become home owners of your home!

Your Responsibilities

To be successful in the program, we request that you commit to the following:

• Make your monthly payments on time
• Maintain renters insurance, including contents insurance
• Pay your utility bills on time
• Keep up the maintenance on your new home
• Enjoy your home!

Fees

Commitment Fee

While we’re always happy to help, it does take considerable time and effort for us to design a program specifically for you so that we can put you in the best position to reach your goal. This amount can be credited towards your down payment when you exercise your option to purchase the home in the future.

Home Inspection Charge

You are responsible for the home inspection fee once you’ve selected the home you want to purchase. This is a fee you would normally have to pay as part of the mortgage qualification process when buying a new home.

Ready to take the next step?

Our Lease Option Program can help families attain their dream of home ownership.

Click below to fill out the application form or contact us for more information. Be sure to check out our FAQs for any questions.