Find someone in your market who does lease/option (L/O) well and find out where they got their paperwork.

That's about right for a 85% LTV LPMI 15YF n/o/o, which is rarely done (good on your LO for scratching your itch, and being one of the 1% that is REI friendly!) 

LO should have caught it upfront. 

This is based in part on what my go-to commercial LO tells me, and in part on what consumers in commercial loans gripe to me about.Commercial lending is often based on the cashflow of the asset, and not so much your personal income situation (meaning if you make enough personally, a residential lender will let you do cashflow negative things that a commercial lender might say 'no' to).

The words "quit my job" make me cringe as an LO, those are the last things I want to hear.

Lo and Behold, payment comes quickly.

If a L/O in Texas is not performed to the letter of the law, the Buyer has considerable recourse against a Seller (YOU) and you can end up in a much worse financial predicament.

I view this election like I view Kevin Durant leaving OKC to go to Golden State.

Two family members experienced L O N G delays getting buyer financing in Calif. 

I refinanced using a jenky internet lender for the experience (professional development), and actually had to teach my 1-800 number LO how California property taxes worked and how to read a prop tax bill (what he was doing would have resulted in a "Surprise!"