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Lease Option Program

How should I choose lease option vs. mortgage?

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Our lease option program is a great solution for many people that don’t quite qualify for a mortgage, but it’s good to understand the differences between our lease option program and a traditional mortgage.

First- let’s define a lease option.

A lease option is a real estate agreement that gives a renter a choice to purchase a property during or at the end of a rental period.

IMPORTANT: A lease option agreement prevents the property owner from offering the property for sale to anyone else. A lease option is also known as a lease with the option to purchase.

With a lease option, the renter has the exclusive right to purchase the property.

What are the main differences?

With our lease option program, you rent your home while you save up to buy. Here are some of the key differences:

  • With a lease option, you rent your home while you save up to buy it
  • You pay fair market rent every month
  • There’s no interest on your monthly rental payments. With a traditional mortgage, you’ll have an interest rate.
  • You only need 2 month’s rent to move-in, versus 3-20% with a traditional mortgage
  • Choose a home and an all-cash offer is submitted to the seller to buy the home, which can be significantly more attractive to sellers than offers from buyers needing a mortgage
  • We can close fast—usually in as little as 21 days

We also help you get mortgage ready through our free home buyer strategy planning and credit counseling.

lease option program

Who is a good fit for our lease option program?

A lease option is a great fit for people who are ready to try out homeownership but don’t yet qualify for a mortgage. Maybe you haven’t had the time or opportunity to save up for a down payment, or you’ve had a financial misstep in the past— our lease option program can be a great solution to help you get on the path to homeownership.

Mortgage loan denied in underwriting?
lease option

Our program is also a great option for potential home buyers that were very close to qualifying for a mortgage, but didn’t get the final approval. Recently we’ve seen mortgage lenders tighten their home buyer requirements during the pandemic, meaning there are people that would have qualified 6-12 months ago, but may not today. We can help you secure your dream home, even if your mortgage fell through.

I think I can qualify for a traditional mortgage—how should I choose?

We typically recommend that you take the traditional path to homeownership by getting a mortgage, if you’re able to qualify. Our lease option program is simply a bridge for people who want to become homeowners, but can’t quite get there today. 

Our all-cash offer can also help home buyers get a leg up in competitive markets. If you’ve been struggling to win the home you want, having the power of an all-cash offer could be a good solution.

Our lease option program also gives you the flexibility of renting. If you’re moving to a new city or area, you can use our lease option program to find a home you love and try it out before fully committing to buying it.

Our main goal is to help people become homeowners—whether that takes 2 years or 2 months. Our program lets you buy back at any time. 

However, if you’re not sure you want to commit to homeownership yet, or if you still haven’t saved quite enough for a down payment, a lease option is a great solution!

Think a lease option could be a good fit for you? Get started today! It’s free to find out if you pre-qualify and only takes a 2-3 minutes.


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By Dana Ash-McGinty

Dana Ash-McGinty is the Principal Broker of ASH | MCGINTY, a Washington, DC Real Estate Brokerage. This real estate maven has 15+ years experience in residential, commercial and land sales in addition to multi-state residential renovation, re-zoning, and condo conversion projects. A sought after real estate authority, she has been featured on CNN and in various real estate and financial publications. Dana is married to the highly esteemed Dr. Dana W. McGinty, a Washington, DC internal medicine physician and medical correspondent. They are often referred to as "The Danas".