Are you close to being able to buy a home but aren’t quite there? Did you just move and aren’t sure where you want to live? Do you need to rent right now but really want to buy a home in a couple years? This rent to own program may be right for you.
Lease to love
The program allows you to find a home that you want to rent initially, but may also like to buy in the next three to five years. We believe that there are many households who may be thinking about buying a home, but for whatever reason would like to rent at the current time. You can lease the home for three to five one-year terms, depending on the state, and you may purchase the home at any time at a predetermined price.
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Prospective residents start the process by filling out a pre-qualification application that checks key issues. Basic requirements may be subject to change and may vary in select markets but are as follows:
Annual household income of $50,000+
No pending bankruptcy
No disqualifying criminal history
Step #3 lease to love!
Prospective residents will be required to sign a one year lease for the home as well as a Right to Purchase Agreement. You lease the home and have the right to buy it later only if you want to.