lease to own home calculator?
I am planning on leasing-to-own my house to someone else, but I need help to calculate the monthly payments. Anyone knows of an online calculator???
Public Comments
- You don't need a calculator. You charge the tenants a fair market price for rent for that neighborhood and size of unit. You don't have to collect an additional amount toward a down payment, but if you do, put it in a separate interest-bearing savings account at a bank because you will have to return it whether or not they end up buying the house. Don't count on them being able to save up enough to buy it though. They may decide not to exercise the option in the end. Make sure you put in the agreement that you have the right to cancel out if you sell the house.
- http://realestate.yahoo.com/calculators/payment.html
- What you are seeking is an amortization schedule calculator. goto: http://www.myhomeloantools.com/mortgage-calculator.php?source=g1&m=e&kw=home_mortgage_calculators
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