28 Aug How is REAL different than other lease-to-own and shared equity programs?
REAL is designed for consumers who have the means to make a significant contribution to the transactions, at least 10%. The Program allows Program Basis in approved geographic areas (states) up to $2 Million . REAL lets the consumer keep all of the net appreciation, and we don’t qualify our consumers using the same underwriting requirements as many of the other programs.
- Most lease-to-own programs require the customer to buy from the owner’s inventory. Also, many of them are
designed for low income consumers.
- Shared equity programs are for consumers who lack the savings for a down payment but who otherwise could qualify for a traditional mortgage. The tradeoff in return for no down payment is that they must agree to share the upside of any appreciation.