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lease purchase
program?
different
right for me?
areas
about the
least purchase
program
our residents
say
01 - RentersLease with option to buy
Apply For Approval
Answer 6 questions on a FREE Pre-Qualification Questionnaire to see if you meet the basic applicant criteria. If you pre-qualify, you are invited to complete the paid full application. This step includes uploading income verification documents, and a soft credit pull and a background check on household members over 18 years of age.
You will be notified you of a decision within 1-3 business days.
Find an eligible home
After approval, you will get a maximum monthly rent amount. Work with your real estate agent to tour eligible homes listed for sale. Once you find a home you love, you complete the request form.
After completing the request form, your agent submits the home for review.
Price Breakdown
You will receive a copy of your anticipated terms with 5-years of locked in monthly rent rate amounts, Right to Purchase prices and estimated repair costs. After you approve of the terms, a competitive offer will be submitted on your behalf. If the seller accepts the offer, you sign a one year lease and right to purchase agreement.
Process
You rent the home with the flexibility of a 1-year lease and the option to buy at any time. At the end of each lease term, you can choose to walk away without penalties, or you can renew your lease for another year. In total, you can rent the home for up to 5-years.
02 - HowLeasing is different
Lease with Option to Buy empowers you to plan for your future with the security of 5-years of locked-in rents and purchase prices.
With this program, there are no hidden fees, non-refundable deposits, or unexpected price increases. If you choose not to exercise the right to purchase, there are no penalties. Buy, rent, or walk away, you decide.
03 - Right for me?
I'm not ready for
a mortgage.
Get into your dream home now without a mortgage or down payment. Plan ahead with 5 years of locked-in rent amounts and purchase prices.
I'm relocating to
a new area.
Finding a new neighborhood to move to isn’t easy. Test drive a community and home you want without the long-term commitment.
I'm a first-time
home buyer.
We understand that buying your first home is a big decision. Try before you buy! Live in the home you want while deciding if it’s right for you.
I'm looking to rent
a great home.
More options! Unlock access to dozens of homes listed for sale. Expand your options to find a high-quality single-family home that may not be available on the rental market.
04 - Are leases availbleIn your area?
Use the search bar below to see if Lease Purchase is available in your metro.
05Pricing
We use your income documentation submitted with your application to calculate a maximum monthly rent amount to guide your home search.
Once you and your agent find a home within your maximum monthly rent, we show you 5 years of locked-in rent and purchase prices.
Monthly Rent
Amounts
For the next 5 years, your monthly rent is locked-in. Renew your lease with the security of knowing your rent amount ahead of time.
Right to
Purchase Prices
You can purchase the home anytime during your lease term. Each year, the Right to Purchase price increases to the pre-determined amount.
06 - Questions aboutthe lease purchase program?
What is the basic applicant criteria for the Program?
To meet basic applicant criteria, you must have $40,000+ of verifiable annual household income, no open chapter 7 bankruptcy, no disqualifying criminal history, and a minimum of 45 days from date of application approval to move-in. After application submission, YOUR Rent-to-income and debt-to-income ratios, FICO® scores, housing, employment, and criminal history are also evaluated.
FICO, the FICO Logo, and the FICO product and service names are trademarks and service marks or registered trademarks and service marks of Fair Isaac Corporation.
What is the basic property criteria for the Program?
An eligible property must be a single-family home or fee-simple town home located in one of our approved communities. The list price must be no more than THE metro’s maximum purchase price, and the property must have 2 or more above-grade bedrooms on a lot of 2 acres or less.
Do I need to work with a real estate agent?
Yes! You can work with a licensed real estate agent FROM OUR FIRM
