London MLS

london-ontario-real-estate-email-alerts
Follow Me on Facebook Follow Me on Twitter Follow Me On LinkedIn
Kathy Mendham-Meathrel
Realty Executives Elite Ltd
7-515 Wellington Rd South
London, Ontario, N6C 4R3
Office: (519) 649-6900
Cell: (519) 854-1974
What is a rent to buy or lease option? | Print |

What is a rent to buy or a lease option?

When a renter signs a lease with an option to purchase a property for a specific price within a certain time frame, that is called a lease option. In most lease-option situations, a portion of the rent is applied to a future down payment.

Lease options are not very common but are most popular among buyers who don't have enough funds for a down payment and closing costs.

AddThis Social Bookmark Button
 
< Prev   Next >
Get the newest real estate Information from our site delivered right to your desktop!

Rent vs. Buy Calculator

Am I better off renting or owning? This calculator will show you the financial differences between the two.
$   Current Rent
  % Est. tax bracket
$   Purchase Price
  % Down Payment
  % Interest Rate
    Mortgage Term (Years)
    Your Monthly Payment
$   Yearly Taxes?
$   Yearly Insurance?
    Total PITI
    How long will you own (typ. 7 yrs)
$   This is your rent over the period
$   This is mortgage over the period

REAL calculator

Calculate your mortgage repayments:

Loan amount: $
Down payment: $
Annual interest rate: %
Term of loan: years
Total interest:
$
Monthly payment:
$
© 2012 www.kathymm.ca | London Ontario Real Estate Agents | London Ontario MLS Homes for Sale   Real Estate Websites - Free Real Estate Advice - Real Estate Marketing