Rent-to-Own Homes - Option To Purchase Calculator -Colorado Home Leasing
Colorado Home Leasing is Denver's leading provider of lease-to-own solutions for single family homes. We provide qualified applicants, who have failed to qualify for traditional bank financing, with the opportunity to lease, and eventually purchase, a single-family home of their choosing.
In this video, we answer one of the most common questions we’re asked - How much will it cost for me to purchase my home at the end of the lease? At Colorado Home Leasing, we define for you, in advance and at lease signing, exactly what you’ll pay.
We’ve built a simple calculator to help you with the math.
Once you’re on the site, visit our Lease-to-Owner’s Page.
Enter the user name and password that we provided you with when you submitted your application. If you haven’t yet applied, click this link to access our pre-application questionnaire.
Now that you’re logged on, scroll down to the Option-to-Purchase calculator and begin to enter the relevant information into all four fields.
Step One - enter the Initial Appraised Value for the home you've selected for lease-purchase. This value will be provided by the appraiser, however if you don’t yet have an appraisal, don’t worry. Simply enter the value you expect the appraisal to come in at.
Step Two - enter the Option Contract Price. This value is provided to you by Colorado Home Leasing after we've reviewed your application and determined your eligibility. It’s the amount we’ll require you to pay at lease signing, for the right to purchase your home for a predetermined price. Most Option Contract Prices cost between 4 -8% of the Initial Appraised Home Value which you entered in Step One. You’ll need to have this amount available as cash, when you sign your lease.
Step Three, enter the amount you expect your home to appreciate each year. This number is important because Colorado Home Leasing partners with you and shares in the home’s expected appreciation.
Step Four, enter the month in which you expect to purchase your home. You’re eligible to exit your lease, by purchasing your home, at any time between the 21st to 36th months of your lease. Note that the Option-to-Purchase is not available prior to the 21st month.
Finally, click the calculate button.
The table that appears tells you exactly what your house is worth and exactly what you’ll pay for it in the month you selected.
For this example, we entered: A home value of $250,000, with an Option Contract price of 6%, a 7.5% expectation of annual home price appreciation, and a desire to purchase the home in the 36th month.
Based on those assumptions, the market value of our sample home would be over $310,000 yet our cost to purchase that home is only $267,479. In just three years, this home could be purchased for over $43,000 less than what it’s worth.
Stop throwing your money away on rent and start participating in the housing market recovery.
Visit us at coloradohomeleasing.com and become one of our Lease-to-Owners today.
In this video, we answer one of the most common questions we’re asked - How much will it cost for me to purchase my home at the end of the lease? At Colorado Home Leasing, we define for you, in advance and at lease signing, exactly what you’ll pay.
We’ve built a simple calculator to help you with the math.
Once you’re on the site, visit our Lease-to-Owner’s Page.
Enter the user name and password that we provided you with when you submitted your application. If you haven’t yet applied, click this link to access our pre-application questionnaire.
Now that you’re logged on, scroll down to the Option-to-Purchase calculator and begin to enter the relevant information into all four fields.
Step One - enter the Initial Appraised Value for the home you've selected for lease-purchase. This value will be provided by the appraiser, however if you don’t yet have an appraisal, don’t worry. Simply enter the value you expect the appraisal to come in at.
Step Two - enter the Option Contract Price. This value is provided to you by Colorado Home Leasing after we've reviewed your application and determined your eligibility. It’s the amount we’ll require you to pay at lease signing, for the right to purchase your home for a predetermined price. Most Option Contract Prices cost between 4 -8% of the Initial Appraised Home Value which you entered in Step One. You’ll need to have this amount available as cash, when you sign your lease.
Step Three, enter the amount you expect your home to appreciate each year. This number is important because Colorado Home Leasing partners with you and shares in the home’s expected appreciation.
Step Four, enter the month in which you expect to purchase your home. You’re eligible to exit your lease, by purchasing your home, at any time between the 21st to 36th months of your lease. Note that the Option-to-Purchase is not available prior to the 21st month.
Finally, click the calculate button.
The table that appears tells you exactly what your house is worth and exactly what you’ll pay for it in the month you selected.
For this example, we entered: A home value of $250,000, with an Option Contract price of 6%, a 7.5% expectation of annual home price appreciation, and a desire to purchase the home in the 36th month.
Based on those assumptions, the market value of our sample home would be over $310,000 yet our cost to purchase that home is only $267,479. In just three years, this home could be purchased for over $43,000 less than what it’s worth.
Stop throwing your money away on rent and start participating in the housing market recovery.
Visit us at coloradohomeleasing.com and become one of our Lease-to-Owners today.
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