Alternative Credit


By Noah Dean McAdams

Type of alternative credit:


Describe this type of credit:

Leasing out houses for a time period

How are interest rates and fees calculated?

Determine purchase price, option price, market rate, and premium rent

What is the average APR and/or fees paid?

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What are the source(s) of this type of credit?

Foxy Homes

JSC Rent to own homes

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Provide an example of a company in your community or media that provides this credit?

Why might a consumer seek this type of credit?

When they don't have very good credit

What are two advantages of this credit?

Low Stress and Gives time to build income

What are two disadvantages to this credit?

Buyers pay upfront fee and if seller doesn't pay mortgage then the house will be foreclosed and buyer will be forced to move
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What are three alternatives consumers should consider before using this credit?

Renting a car, getting a hand down computer, and renting a textbook instead of buying a new one.
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Cite my research with at least two reputable sources:

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