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Updated over 4 years ago,

User Stats

163
Posts
8
Votes
Lokesh W.
  • Milwaukee, WI
8
Votes |
163
Posts

Lease Option: Any Limit for money applied towards Mortgage/ Down Payment???

Lokesh W.
  • Milwaukee, WI
Posted

I am trying to do cooperative lease option on a property. The owner is asking for sale price that is at least $20K above the market price. I can make it up by applying 50% of the rent money towards the sale price (down payment).

Is there any limit to the amount that will applied towards sale price on a monthly basis in a cooperative lease option purchase? Can we apply 50% of the rent or more towards the mortgage/ down payment?

The other thing I can do is increase the lease term from 2 years to 3 years to make for the higher price...

Any suggestions are greatly appreciated.

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