Zillow Advice: Rent vs Buy - How many for sale homes that have sitting on the market could be leased with options? http://www.zillow.com/advice-thread/How-many-for-sale-homes-that-have-sitting-on-the-market-could-be-leased-with-options/467527/ Zillow Advice | Zillow Real Estate Well... I dont think that ... http://www.zillow.com/advice-thread/How-many-for-sale-homes-that-have-sitting-on-the-market-could-be-leased-with-options/467527/ Well... I dont think that your calculations are accurate.&nbsp; Yes you paid 2000 a month for 24 months and that was a payment to live in a home so wether you rented or purchased you would have still hd to pay something...probably the same or similar amount, therefore you would not have had this as a down payment.&nbsp; Please know that this is not important because you cant change the past&nbsp; only the future...therefore, if you are having difficulty gettting a large down payment, do a FHA loan wiht 3.5 percent down and call it a day.&nbsp; The rates are so low that your payment of 2000 a month would buy approximately 300,000 worth of home with only a 10,500 down payment!&nbsp; Best Wishes Wed, 05 Dec 2012 01:05:00 GMT http://www.zillow.com/advice-thread/How-many-for-sale-homes-that-have-sitting-on-the-market-could-be-leased-with-options/467527/ 2012-12-05T01:05:00Z Lease option to purchase ... http://www.zillow.com/advice-thread/How-many-for-sale-homes-that-have-sitting-on-the-market-could-be-leased-with-options/467527/ Lease option to purchase is a very rare category, but it never hurts to ask.<br/><br/>Some basics:<br/><br/>You will need a significant down payment (option fee) which is often at least 10%&nbsp; of the asking price.&nbsp; This is not refundable if you decide not to or are unable to purchase. <br/><br/>The amount contributed towards purchase is only the amount above fair market rental price.&nbsp; So, if fair market rental is $2000, you may pay $2200 and only $200 would be credited towards purchase monthly. <br/><br/>You are still dependent on the owner paying the mortgage.&nbsp; If they fail to do so, you lose everything.<br/><br/> Wed, 07 Nov 2012 20:04:00 GMT http://www.zillow.com/advice-thread/How-many-for-sale-homes-that-have-sitting-on-the-market-could-be-leased-with-options/467527/ 2012-11-07T20:04:00Z There are simple programs. ... http://www.zillow.com/advice-thread/How-many-for-sale-homes-that-have-sitting-on-the-market-could-be-leased-with-options/467527/ There are simple programs. Mainly do you have clean credit for at least 1 year? Could you over the next couple months save up 3.5% down payment? If you can do these two things you could purchase with an FHA loan in the next few months. The down payment can be gifted from family as well. All the closing costs can be paid by the seller so that just needs to be negotiated.<br/><br/>The other option is to save up $10,000 or so and find someone who will owner finance a property. You will pay more for the house but it should be a very simple process. Just search craigslist or other classified sites for owner finance properties, many investors sell homes this way.<br/><br/>If you want to look into FHA financing I can help you. Wed, 07 Nov 2012 19:33:00 GMT http://www.zillow.com/advice-thread/How-many-for-sale-homes-that-have-sitting-on-the-market-could-be-leased-with-options/467527/ 2012-11-07T19:33:00Z