LEASE OPTION PROGRAM DETAILS

Cheyenne Meadows and their representatives have provided the information contained herein for informational and illustrative purposes only and make no warranties, expressed or implied as to its accuracy. All of the information contained herein is subject to change without prior notice. Cheyenne Meadows “Lease Option” New Home Purchase Program has been designed to create a process where individuals can move into their dream home today and purchase it in the future. With our program, the Lease Option buyer receives many of the benefits of home ownership today. Our Lease Option program can be tailored to fit almost any buyer in any situation and can overcome many of the obstacles to home ownership that exist in today’s market such as:

• Down Payment Requirements *
• Credit Challenges **
• New To The Area and/or Job ***

Let Cheyenne Meadows “Lease Option” New Home Purchase Program provide a solution to many of the obstacles facing home ownership. Through our program you may be able to:

• Build up the required down payment/equity for the purchase of the home.
• Improve your credit score and rating.
• Improve financial status with the lending institutions and refinance at
  favorable rates.

The following is a summary of our “Lease Option” New Home Purchase Program:

• Purchase Prices: From $229,900 to $279,900
  (Prices vary based on home model, construction specifications and interior finish
  schedule)
• Home Sizes: 1,648 square feet to 2,460 square feet, 2 and 3 car garage
  options
• Option Terms: 12 Months, 24 Months, 36 Months
• Minimum Option Payment Requirement: $2,000 or more
• Lease Rates: $1,400 to $2,000 per month
• Down Payment/Equity Credit: $300 to $600 per month

Sample Lease Option Scenario

The following is a sample “Lease Option” scenario for a standard Hampton Model 1943:

• Option Price: $249,900
• Option Term: 24 months
• Option Amount: $5,000
• Monthly Lease Amount: $1600
• Monthly Equity Credit: $400
• Total Equity/Down Payment Credit: $14,600

*  The total equity/down payment amount will provide a down payment or equity equal to 5% of the purchase price and $2105 towards closing costs.

**  By strictly following a structured credit enhancement program, most individuals may be able to significantly increase their credit scores during the option period prior to refinancing their home.

*** At the present time, the above scenario will provide a way for most potential buyers to move into their dream home today, build up the required down payment and then refinance at an affordable rate within two years.