Introducing our Lease Option program
Our Lease Option program is designed to help you find your perfect home, lock in your right to purchase, and build down payment over time. We know you may need some time to get ready, so this program may be perfect for you.
The dream is possible
Lease Options are designed for people who will transition to our RIC financing program – especially if you have recovering credit (including bankruptcy, divorce, or foreclosure issues) or limited credit history.
The process is simple
Fill out an application so that we can gather some basic information and see if you pre-qualify.
Look through local listings to find a house that fits our guidelines and your budget.
We’ll work with a local broker to run through the bidding process, including giving you a tour of the home, coordinating our home inspection process, and other key steps.
We hope to be have you in your within 30 days (although sellers can impact timing).
The terms are straightforward
In general, our leases are structured as follows:
Lease term: 12 months, with two 12-month extension options. The rent for all three years is specified up front.
Option price: Your buyout price is specified up front (and we’ll walk you through how it’s calculated).
Upfront costs: A $999 option fee, which helps cover the costs of purchasing the home, and one month’s rent.
Financing: If you have outside mortgage financing, you can buy at any time. If you use our RIC financing, we typically require two years of payments to as part of qualification. In either case, our team will make it easy on you.
You can sleep at night
We want all our customers to act as homeowners, which includes routine items like maintaining the lawn, removing snow and debris, and dealing with minor issues.
Don’t worry, though – we cover the major systems, with any necessary electrical, plumbing, heating / cooling system, or structural repairs will be will be paid by DayMark. This is priced into your buyout – and if you don’t need the help, your purchase price can actually go down.
Talk to our sales team to understand the program details.