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Lease options to buy home programs are becoming increasing popular with those that have bad credit problems and can not normally qualify for a home mortgage loan, according to Jaime Polanco, real estate investor and President of AmeriVision Mortgage Corporation.

*Many potential home owners believe that buying a home will overcome or fix a bad credit situation! They go from mortgage broker to mortgage broker looking for a loan that does not exist, rather than try and remedy the problem.*

*To qualify for a home mortgage loan the bad credit situation has to be fixed first, and not the other way around. Lease option to buy home programs provide that solution.*

*People who have benefited from a lease option to buy home program include those that are recently divorced, suffered bankruptcy, or where FICO credit scores are simply too low.*

*Lease option to buy home programs, also know as rent to own programs, are unlike regular mortgages because the applicant does not have to qualify for a loan.*

*The initial focus is on the ability to make monthly lease payments. As most are making rental payments anyway, this is not much of an issue. The second focus is on their future potential for purchasing the home.*

*Bad credit issues can be worked on, while living in the new home. Over time, most credit issues can be corrected.*

*Lease option to buy home programs make ideal alternatives for the self-employed, compared to traditional means of home ownership.*

*The original agreement for a lease option to buy home program states the purchase price the day the tenant moves in, and doesn't change. Any increase in the value of the home belongs to the tenant when the loan is closed.*

* Typically, with a lease option monthly payments are less than it would cost to own the same home. These monthly savings can be put away, and used to increase the down payment at the time of actual purchase."

*Depending on the situation, a tenant can occupy the new home in just a few days or a move-in date can be scheduled around any current living situations.*

A minimal down payment is required, or down payment assistance is available if needed. The down payment, and a monthly rent credit, will be deducted from the purchase price of the new home, reducing the amount of money needed at closing.*

*Lease option to buy home programs help tenants by improving their FICO score and they can look forward to home ownership in a relatively short period of time,* concludes Polanco.