The lease with a Right to Purchase Program allows you to find a home that you want to rent initially, but may also like to buy in the next three to five years. There are many households who may be thinking about buying a home but for whatever reason would like to rent at the current time. You can lease the home for three to five one-year terms, depending on the state, and you may purchase the home at any time at a predetermined price in accordance with the Right to Purchase agreement. You are only obligated to the first year lease, Once the one-year lease is fulfilled you do not have to purchase or continue to lease the home. Monthly rent payments are not applied to the purchase price of the home.
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