We work with an amazing company that provides a Lease with a Right to Purchase program that allows qualified applicants to choose from thousands of properites LISTED FOR SALE on our Multiple Listing Service (MLS). This means you're not limited to the small selection of rental homes that you find on the rental websites.
This is a great program for:
- First-time homebuyers who are cautious about buying a home now, but want to be able to purchase a home in the future.
- Potential homeowners who recently relocated and are unsure which neighborhood to live in.
- Potential homeowners who may not be mortgage ready, but want the benefits of living in a single family home.
Transparency: Upon entering this program, prospective residents are given the monthly lease and purchase price information each year for up to five years, so they can plan for the future.
Choices: Prospective residents are given access to the MLS listings in approved communities, expanding the selection to all qualifying homes for sale.
Value: Our program partner purchases the home the prospective residents want, providing them with an affordable lease and a pre-set purchase price each year for up to five years. Also, there are no hidden fees or nonrefundable deposits.
Control and Flexibility: Prospective residents have the right to purchase the home at any time during their residency, at the pre-set price. If the home value appreciates above this price each year, they realize a financial benefit. If the value of the home appreciates at a lower rate than the pre-set price or declines, they can choose not to renew their lease and walk away without penalty.
- Annual household income of $45,000+
- Stable employment
- No pending bankruptcy
- No disqualifying criminal history**
- Home must be located in an approved community
- Home price must be between $100,000 and $400,000***
- Minimum of two above grade bedrooms on a lot of two acres or less
- Single family home or fee-simple townhome
- No short sales, REO or auctions
- No material deficiencies (i.e. major structural issues, solid aluminum wiring, etc.)
*Subject to change.
**Subject to applicable laws. Visit www.HomePartners.com for more details, exceptions, and additional information.
***Maximum may vary in select markets.