I agree with Larry. Most people don't understand that going in. If you are considering a lease purchase, there are a few things you have to consider. Mainly, will the property be worth what the seller will be asking at the end of the term. There are a number of owners that are renting these homes because they can not sell without doing a short sale. They opt to rent these homes until the market comes up and their mortgage balance comes down. This is not always the case, but I have run across this quite a bit while searching for a home for a client. The second thing is to consult and attorney once you have a contract. Make sure you understand fully what the terms are. Also, talk to a reputable mortgage rep that can tell you exactly what you need to do to qualify. I have a great rep in mind. You can reach me at 856.896.8078.