WELCOME TO A NEW PATH
Can you answer YES to any of these questions?
DO YOU NEED TO RENT RIGHT NOW, BUT REALLY WANT TO BUY A HOME IN A COUPLE YEARS?
Are you close to being able to buy a home but aren’t quite ready?
Did you just move to the Austin Area, or you’re moving here soon and you aren’t sure where you want to live?
Are you in a job, like the Military that requires you to move around often?
You want to own a home, but either you don’t know how long you’ll be here, or you’re not sure you WANT to commit to buying a home here?
You’re looking for a house to rent, but they’re all old, smelly, too expensive, or just not right?
Well, I have the perfect solution for you!
What you need to know
Here are a few highlights about the program.
Every household must provide:
Full Application from everyone 18+ years old
Application Fee ($75 total per household, no matter how many applicants)
Supporting documents: Income Verification, Asset Verification (equal to 2 months of rent)
Once you’re approved, and you find the Perfect Home, you will be provided the price of rent and the estimated Purchase price for each year for up to three years.
You are not obligated to purchase the home, or continue renting after each one year lease.
You have Choices, Value, Control and Flexibility
You can Move out after each 1 year lease term without penalty
You have the choice to rent for up to 3 years
You can purchase the home any time during your tenancy
Annual household income of at least $50,000 of all applicants
Credit score as low as 550 of just one of the applicants
No recent history of eviction and no pending bankruptcy;
Acceptable criminal history
How the Program Works
HOW THE PROGRAM WORKS
I work with a company called Home Partners of America. Home Partners provides you with a clear and transparent path to homeownership through its Lease to Own Program. This program provides three years of rent certainty with only a one-year financial commitment on the lease.
If you want to own a home but cannot currently qualify for a mortgage, or if you would prefer to rent a home now with the goal of purchasing it in the next three to five years, then this program may be for you. Home Partners doesn’t focus exclusively on your credit score. The full credit profile of your entire household is taken into account when they review your application to the Home Partners program.
As with a standard lease agreement, Home Partners requires you to sign a lease for a year and make a security deposit. Unlike a standard lease agreement, you will have renewal options providing [three/five] years of rent certainty and the right to purchase the home at a price established when you enter the Right to Purchase Agreement, in accordance with the terms of the Agreement. You can also select the home that you want to live in from those eligible and available for sale in communities Home Partners serves – enabling you to live in a neighborhood today where you might not otherwise find a suitable home to rent.
Home Partners buys homes in specific approved communities, so you can go to their website to see what communities are currently in their program. We will guide you in finding the right home in the right community in the Home Partners’ program. Once you approve the purchase price in your Right to Purchase Agreement, that is the price at which you may purchase the home during the term of the lease, in accordance with the terms of the Agreement, whether the home is later appraised at a higher or lower value. If you do not purchase the home as provided in the Agreement, Home Partners may rent or sell the home to others when your lease ends.
Your initial lease is for one year, so your financial commitment is limited to one year. Your lease is renewable every year for [three/five] one‐year periods, and you have the right to notify Home Partners if you don’t want to renew the lease. Your full security deposit will be returned as provided in the lease if you decide to leave the home at the end of a lease period and have been in full compliance with the lease.
RIGHT TO PURCHASE AGREEMENT
Your Right to Purchase Agreement gives you the right to purchase the home you selected from Home Partners at a predetermined price for every year of your lease, as long as you have been in compliance with the lease, Agreement and other documents. You are under no obligation to buy the home from Home Partners.