Apply for the program that works for you
The application process
At Lease Purchase Depot (which is a division of Virtual Properties Realty) we work hand in hand with the best Lease Purchase Investors in the Metro Atlanta area.
Every investor has its own unique requirements which we have described below. If one of the below investors fits your situation or needs please feel free to go ahead and submit your application to that investor.
After your application is received by them, they will do a soft credit check which will not change your credit score in any way. It is okay to submit several applications if more than one of the below options looks good to you.
Investor Option #1
- 550 Minimum Credit Score (can use a co-applicant score)
- $5,000 Minimum Monthly Income (can include a co-applicant)
- Upfront fees: 1% -2% of the purchase price, depending on your credit (applied to your purchase price when you later buy your home)
- This option's rent would be more than Option #2 because 25% of your rent would be credited back to you at the time you buy your home
Investor Option #2
- 580 Minimum Credit Score (can use a co-applicant score)
- $5,000 Minimum Monthly Income (can include co-applicant)
- Upfront fees: 2 months deposit (refundable if all lease terms are met)
- Option #2 rent would be less than Option #1 because no rent is credited back to you at the time you buy your home. You would need to be saving for your down payment during the time you are renting your home.
There is a $75 application fee for this option. However, we are offering 50% off your application fee if you use this promotion code when asked: VPR0822
Lease Purchase Qualifications
You or a co-signer must show the following:
Able to pay at least $1,600 monthly rent?
Able to pay a down payment of at least 2-4% of the sale price (at the time the lease is signed)
Able to pass a background check (no felonies)
Can move into your home within 3 months of signing the lease
Have no dangerous breed of dog