Lease Today, Own Tomorrow
Seamless Path to Homeownership with Lease to Own
No perfect credit? No problem. Build equity while renting — tailored for first-time buyers, ITIN/DACA, self-employed individuals, and those with credit challenges
- 580 Minimum (< 580 considered on case-by-case basis)
- Less Stringent Income Requirement
- Easier Self-Employed Approval Options
- 3.5% Down Payment
- ITIN & DACA Eligible
Take the First Step Toward Homeownership!
You’re Almost There — Let’s Bridge the Gap to Homeownership
If you’re close to qualifying for a mortgage but not quite there yet — maybe it’s your credit score, income documentation, or saving up for the down payment — you’re not alone. Many future homeowners find themselves in this “almost ready” stage.
That’s where a lease-to-own option can make all the difference.
With lease-to-own, you get the opportunity to choose the home you want, move in now, and build equity while you lease. When you’re ready for traditional financing like FHA, you can purchase the home you’ve already been living in — no need to start over.
You’re not just renting — you’re working toward ownership. You’re building equity, gaining stability, and staying on track to become a homeowner on your timeline.
At Prospect Lending, we believe that homeownership should be within reach — especially for buyers who are putting in the work and just need a bridge to get there.
Ready to stop renting and start moving forward?
Let’s talk about how a lease-to-own program can help you cross the finish line and finally own the home you’ve been dreaming about.
Who Qualifies for the Lease-to-Own Program
The program is for people who will be ready in a year or two for a mortgage, but want to buy today and take advantage of home appreciation and get out of renting. It’s a little more flexible on credit and income, and very flexible for self employed people.
The program is not a down payment assistance program, so you still need 3.5% for down payment, plus some more for closing costs.
Here are some examples of people that can benefit from this program
Self-employed and business owners. This program is ideal for you if you write off a lot on your tax returns, or have only been in business for about a year.
Recent bankruptcies or foreclosures.
Your debt to income was a little too high for a regular FHA loan.
Credit challenges. Program will go down to 580 FICO, and will make exceptions for under 580 if the rest of your application is strong.
How Does it Work?
Here's a step-by-step outline of the program
Home Buyer (you) fills out an application with Prospect Lending and gets pre-approved.
Home Buyer starts looking for a home, and when they find one, makes an offer and gets it accepted.
The property closes in the name of the lender’s investor, which becomes the owner and landlord. The Home Buyer and the lender’s investor enter into a lease/option agreement.
Home Buyer leases the property for up to seven years (which can be extended). The monthly payment is equal to the mortgage payment, plus taxes, insurance and a small admin fee. The option fee is stated in the lease/option agreement.
During the lease/option period, with every on time payment, the purchase price goes down and all appreciation of the home belongs to the Home Buyer.
At any time during the lease/options period, when the Home Buyer can get approved for a mortgage, and after the option fee is paid in full, the Home Buyer can:
- Buy the home from the investor,
- Assume the FHA loan from the investor, or
- Sell the home.
- Enjoy the benefits of homeownership.
There's a lot more that you need to know, and you still have to be able to qualify for a FHA mortgage in the next few years, so if you have any questions, fill out the form above and let's see if you're a good fit!
Next Steps
Step 1: Check eligibility – CLICK HERE
Step 2: Get a free 15-minute consultation
Step 3: Choose your home, sign lease, start building equity
Step 4: Transition to a mortgage when you’re ready—with full guidance
Get Pre-Approved Today!