Yes, you need a minimum of 10% of the price of the desired property as well as between 1 and 2% more for the fees depending on the situation. This down payment is used to pay the purchase option cost on the property. This amount will be converted into a deposit at the end of the term and deducted from the sale price. The price paid for the option is non-refundable if you decide to no longer purchase the property, if you do not qualify for the redemption or you default on your payments. We mention these because we are looking for families who want to be future homeowners. We are dedicated to providing outstanding credit repair and support services to all who are ready to become future owners.