Our Flex-Lease program is HUD (4551) compliant and available through authorized lenders who originate conforming home loans such as FHA, VA, Fannie Mae and Freddie Mac. Flex-Lease is a 12 month auto lease with a monthly payment based upon a “percentage” of the vehicles value, not the entire value, which allows us to dramatically reduce the monthly payment without affecting the principal debt obligation. Flex-Lease also allows the lessee to “transition” to a traditional, long term auto loan at any time during the lease term with no pre-payment penalty. When it comes time to trade in your existing auto, we can assist with fleet pricing (wholesale), special financing and other incentives on new and used cars, trucks and SUV’s through our affiliate, April Automotive Group™.

Examples-

How an auto payment can affect mortgage qualifying:

Debt to income (DTI) is a formula used by mortgage lenders to determine a borrower’s overall housing and personal debts as a percentage of their gross monthly income. Lenders usually have strict DTI guidelines that must be met in order for a borrower to qualify for their home loan. Below are two examples of how our auto payment reduction lease can help a borrower qualify for their home loan or to increase their loan amount.

Sample Transaction A

Borrower’s auto payment: $377 per month
Borrowers currently qualify for a $390,000 mortgage
AAC’s reduced auto payment: $188.00 per month
Borrowers now qualify for a $424,000 mortgage

Sample Transaction B

Borrower’s auto payment: $268 per month
Borrower’s debt to income ratio: 50% (too high for loan approval)
AAC’s reduced auto payment: $134.00 per month

Borrower’s reduced debt to income ratio: 48% (loan likely approved)