Jamie, there's alot to consider with a "lease/purchase". If you are truly purchasing the OPTION to buy sometime in the future, you will likely put up nonrefundable money in advance rather than the refundable deposit to rent. The landlord may expect you to do the maintenance & repairs that would usually be done by the homeowner. They may promise a portion of your rental payments will go toward your down-payment when the time comes that you can qualify for a loan......if you ever get to that point. There are MANY pitfalls in this type of arrangement. I would also suggest you RENT if you can't BUY right now. If you can qualify for regular financing, there's no time like the present & it will give you more options than the limited rental market. I'd be happy to visit with you in person if you will give me a call. Together we can decide the best strategy for you.
Kelly Bowyer, agent
Scott Davidson Realtors