Black Hue House × AD Renovations

Lease Option Process for Prospective Clients

Here's exactly what to expect at each stage.

1. 1

   Pre-Qualification

   • Complete the Pre-Qualification Form on our website
   • Pull a Credit Report from all 3 bureaus (free score available)
2. 2

   Verify Income

   • Submit your last two pay stubs or most recent W-2
3. 3

   Credit Review

   • We determine your score using our Credit Review Calculator
4. 4

   Initial Decision

   • Score of 2 or below: a denial letter is sent
   • Score of 3 or higher: your file is sent to the Manager for review
5. 5

   Manager Consultation

   • Manager speaks directly with the client
   • Confirm desired move-in date and deposit readiness
6. 6

   Mortgage Broker Review

   • File is sent to our mortgage broker
   • A clear deadline is set for the lending decision
7. 7

   Client Selection

   • Selected client receives a call and an email outlining next steps
   • Selected client has 48 hours to secure the property
   • Other applicants are notified, or candidate #2 is contacted if needed
8. 8

   Secure the Property (within 48 hours)

   • Meeting scheduled to secure the property
   • Lease Option Deposit Receipt prepared
   • Lease Option Plan reviewed together
   • Application submitted with fee
9. 9

   Schedule Signing

   • Lease Option documents prepared for signing
   • Lease Option signing meeting scheduled
10. 10

    Lease Option Signing & Move-In

    • Sign the Lease Option agreement
    • Pay the 1st month's lease payment
    • Pay the remaining deposit balance