Lease Option Homes — Move In Now, Buy When You’re Ready

What a Lease Option Actually Is

You lease the home from us under a written agreement that also gives you the exclusive right to purchase it at a price we agree on upfront, within a defined window — typically three years.

Three parts:

The lease. You live in the home and pay monthly.

The option. You pay option consideration upfront, securing your exclusive right to buy at the agreed price. It’s credited toward your purchase when you close.

The locked price. Set the day you sign. If the market moves up over your term, that gain is yours.

Why we use options and not binding purchase contracts

Some companies write lease purchase agreements that legally obligate you to buy at the end of the term. We don’t, on purpose.

Nobody can predict where you’ll be in three years. Your income could change. Lending standards could tighten. The market could turn and lenders could start demanding down payments nobody planned for. Locking a family into a contractual obligation to buy under conditions none of us can foresee isn’t a deal we’re willing to write.

You get the right to buy. You don’t get the obligation. That’s the deal.

How It Works

1. Get on the buyer list. Tell us your income, your timeline, and what you have available upfront. Two minutes.

2. We review your situation. We verify income and ability to pay. No credit-score minimum, but the payment has to fit your real budget.

3. Tour available homes. We’ll show you what’s in inventory matching your budget and area.

4. Agree on terms in writing. Purchase price, monthly payment, option consideration, term length, what’s credited toward purchase, and who handles what — documented before anyone signs.

5. Attorney review. Take it to your own attorney. We want you to.

6. Move in and start the clock. You’re in the home. Now you spend the term getting mortgage-ready.

What You Pay Upfront

Option consideration. A one-time upfront payment securing your exclusive right to buy at the locked price. Usually between 5 and 10 percent of the retail price.

Typically well below a conventional down payment — that’s what makes a lease option workable for buyers who need time to accumulate cash.

First month and deposit. Standard, same as any lease.

Be clear on how option consideration works

Two things, and we’d rather you read them here than discover them later.

If you buy, it applies to your purchase price. Every dollar of option consideration comes off what you owe at closing. It isn’t a fee — it’s the first money down on your house.

If you don’t buy, it isn’t refunded. That money is what purchased your locked price and your exclusive right to that home for three years. During your term we can’t sell it to anyone else and we can’t raise the price on you, whatever the market does. That protection has a cost, and the option consideration is it.

That’s the trade: you’re not obligated to buy, and the money that bought you that choice stays with the choice.

Your Three Years — What You Should Be Doing

The term isn’t waiting. It’s a runway, and buyers who treat it that way close.

Build your credit file. Pay everything on time, keep card balances low, don’t open new debt in the six months before you apply.

Season your income. Self-employed buyers need documented history. Two years of filed returns showing what you actually make changes what lenders will do for you.

Save. Your credits help, but more cash at closing means better loan terms.

Talk to a lender in year one, not month thirty. Find out exactly what they’ll need, then spend your term building that specific file instead of guessing.

We’ll check in along the way. A buyer who closes is a good outcome for both of us.

Lease Option vs. Renting vs. Owner Financing

Straight talk on the tradeoff: owner financing gets you equitable title immediately but requires real money down. A lease option asks for less cash upfront, and you stay a tenant until you close. If you have the down payment, owner financing is usually the stronger position →. If you don’t, this is how you get there.

Who This Works For

Buyers 12–36 months from mortgage-ready. Credit is recovering, income is stabilizing, you just need time — and you’d rather spend it in the house you’re going to buy.

Self-employed buyers building filed history. Lenders want two years of returns. One year in, a lease option gets you into the home while the clock runs.

Buyers saving a down payment in a rising market. Every year you save, prices move. Locking the price stops that race.

Post-bankruptcy and post-foreclosure buyers. Conventional waiting periods run two to seven years. Spend them in a home at a locked price instead of paying rent.

Buyers who want a path without a trap. If you’re not certain where you’ll be in three years, an option gives you the upside without the obligation.

Who Handles What

You’re a tenant during the lease term, and responsibilities get split. Specifics are in your agreement — read them — but generally:

Typically yours: utilities, lawn and yard, minor maintenance, renter’s insurance, interior upkeep.

Typically ours: property taxes, structural and major systems, hazard insurance on the building.

Anything that changes the property — a fence, a remodel, a new deck — gets written approval first. You don’t own it yet.

What Happens at the End of the Term

Three outcomes. All three are here because you should know all three before you sign.

You buy. The usual path. You obtain a mortgage or we structure the purchase another way, your credits apply, and the home is yours.

You need more time. Life happens. In some situations we’ll extend the option — not automatic, and it’s a conversation, not a right. Come to us early if you see it coming.

You don’t buy. You aren’t obligated to, and we’re not going to pretend otherwise. The lease ends and you move out. Your option consideration is not refunded, and accrued credits don’t carry anywhere — that money bought you a locked price and an exclusive hold on the home for three years, and it stays with that.

We’d rather tell you that plainly on a webpage than have you find out in year three.

Where We Offer Lease Options

Headquartered in Lacey, Washington, serving buyers in:

Washington — Olympia, Lacey, Tumwater, Centralia, and surrounding Thurston and Lewis County communities

Arizona · Idaho · Indiana · Missouri · Montana · Ohio

Inventory varies by market. Terms and legal structure vary by state.

Common Questions

Am I obligated to buy the home? No. You hold the right to purchase at the locked price, not the duty. If your circumstances change or you can’t qualify when the term ends, you can walk away.

What happens to my option consideration? If you buy, all of it applies to your purchase price — it’s the first money down on your house, not a fee. If you don’t buy, it isn’t refunded. That payment is what secured your locked price and held the home exclusively for you for three years, and it stays with that.

Is this the same as rent to own or lease purchase? People use all three terms loosely for the same idea. Legally they aren’t identical — a lease purchase typically obligates you to buy, while a lease option gives you the choice. We write options. Full comparison of all three paths →

How long is the term? Typically three years. Extensions are possible in some situations but aren’t guaranteed.

Is the purchase price locked? Yes, agreed and documented the day you sign. Market appreciation over your term works in your favor.

What credit score do I need? None for the lease option itself — no bank credit-score minimum. You’ll need to qualify for financing at the end of your term, which is what the term is for.

What if lending standards tighten before I’m ready to buy? Then you’re glad you have an option and not an obligation. Talk to us early — depending on the situation we may be able to extend your term or look at structuring the purchase another way, including owner financing.

Can I make improvements to the home? Get written approval first. Some we’ll welcome; some we won’t, and you don’t hold title yet.

What if I want to buy early? Usually yes, and often a good move. Talk to us.

Should I do a lease option or owner financing? Mostly comes down to cash on hand. Have a real down payment? Owner financing → puts you in a stronger position now. Need time to build one? A lease option is the bridge. Call 360-743-3330 and we’ll tell you straight which one fits.

Ready to See What’s Available?

Get on the buyer list and we’ll send you lease option homes matching your budget — before they’re advertised publicly. Free, no obligation.

Call 360-743-3330 · EZ Home Path, a Garrison Property Solutions company