Woodhill Homes Blog

Due to the recent sub-prime meltdown, many mortgage companies are tightening their lending standards. These tightened standards are making it difficult for many people to obtain loans, which is why Woodhill Homes is now offering a Lease Option.

With a Lease Option the monthly payment on a home is less than a standard mortgage payment; leaving you with more cash at the end of each month. Additionally, a portion of your monthly payment is credited toward your future purchase of the home as equity.

This equity credit is a great benefit to those that are having difficulty obtaining a mortgage difficult lending environment.

Further, your monthly equity contributions may build faster than the traditional methods of building equity, such as appreciation and principal paydown. The equity that you build during the 12-24 month lease option essentially provides a down-payment when you do obtain a mortgage at purchase.

If the lease option does not suit you and you are determined to purchase a Woodhill Home you can discuss your mortgage situation with me or our Woodhill Homes sales team. We have relationships with lenders and brokers alike that are eager to provide loans. Additionally, because of our relationship with these individuals you may be able to receive more favorable terms than you would on your own.

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