Step 1: Complete the application to qualify.
Step 2: Once you’re approved, you’ll receive a budget to go home shopping. As your Realtor, we will come up with a list of your needs and wants and tour properties that are available in your desired areas.
Step 3: The company pays for the home in cash and you would submit a down payment in the amount of two months rent. This down payment will later be used towards the purchase of the home when you get ready to qualify for a mortgage loan.
Home Prices are soaring. Already in the Greater Metro Atlanta area home prices have increased from an average of $375,000 in 2022 to $415,000 in 2023. When you lease to own, you lock in your home price now, so when the home appreciates in value in the coming years, you will only have to pay the locked in purchase price you agreed to.
Here are some of the documents you may potentially need when applying.
Hourly/Salary: Recent Pay Stubs
Independent Contractors: Recent Pay Stubs
Self Employed: Bank Statements, Tax Returns, Profit and Loss Statement
SSI Benefits, VA Benefits, Child Support, and Alimony proof of income required if you are including this income to qualify for the program.
Resident get to pick out a home currently listed for sale that they love located in an approved Home Partners area. Residents only commit to a one-year lease term. They have the ability to renew their lease in one-year increments, and rent the home for up to five years. Before signing their lease, resident are given their monthly rent and agreed purchase price for the next five years. If you decide you do not want to purchase the home, you are not obligated todo so.
QUALIFICATIONS:
•Small Application Fee $75
•No Impact to Credit to Apply
•No MIN Credit Score, Approval will be based on multiple factors, including a soft credit pull, credit report, and payment history for all household members 18 years of age and older.
•$40,000 Per Year Income Min - Can be combined with another applicant, child support, alimony, or social security income. Higher income amounts will qualify for higher home prices.
•No bankruptcies or evictions in the past year.
•Security deposit of two months lease payment
•Show proof of funds required to show that you can pay the security deposit of two months rent.
*No Portion of your lease payment is saved. Your initial down payment will be saved and you will be able to use those funds when you are ready to purchase with a mortgage.
Payment Example: Home Price $350,000 Estimated Rent $2,200
Home Price $500,000 Estimated Rent $3,200
Check out this DIY Credit Repair System that will allow you to repair your credit within 1-3 months. Remove negative items from your report and get your credit prepared to purchase your dream home.
Currently on Sale for only $25
Want to purchase your Dream Home? Looking to Sell your Home? Tired of renting and want to get into a Lease to Own Program?
Book a consultation call with me at your convenience. During this call we will access your needs and concerns and get you on a path to achieve your real estate goals.
