This is an overview of how our Lease Until You Purchase program works.

With your minimum option fee of $3,900, as long as your lease remains in good standing, you have up to five years to get a mortgage to purchase the home. During the five years, you will be working on your credit, job history, debt to income ratio – whatever you need to in order to qualify for a mortgage. Once you reach that point – whether it’s three months or four and a half years from now … we will work with you to set up the purchase.  Then the house is will be 100% officially yours from that point on.

A point on the option fee – Your option fee will be credited toward your down payment or closing costs when you exercise your option, but it is nonrefundable if you choose not to purchase your home. We  are looking to help our residents achieve the dream of home ownership, so we do want to make sure that it is your goal.

So what happens before you purchase?

Prior to when you get your mortgage, you will have an annual lease similar to a standard rental lease with a few differences. The objective is for you to purchase the home, and for all intents and purposes, this is your home from day one. With that, you are more than welcome to paint the walls to a color you want, change out the flooring, upgrade the kitchen or bath – make the house your home. Along with this freedom does come some responsibility.  Just like a homeowner, you will be responsible for any upkeep or repairs to the property.

I’m in, where do I start?

Do you have the move-in amount?  You can get an estimate of what you need here.

The first step would be to drive by the home you think you are interested in.  Check out the neighborhood, the street, and make sure that it is the right home for you.

Once you have done that, fill out the application on our website. We do require anyone over the age of 18 to fill out an application. With the application we will need a full month of pay stubs for income verification.

We will run a credit and background search.  Don’t worry if your credit score isn’t great, we are more interested in what’s on your report, not the number.  One of the main criteria we have is income verification. We require your monthly household gross (pre-tax) income to be at least four times the rent.  For example, if the rent amount is $1,000, your monthly household gross income would need to be at least $4,000.

Once an application is approved, we will set a time to meet you at the home to see it in person. If it is something that you want to move forward with, we can go over all of the paperwork and get you on your way to home ownership.

Ready?  Click here to continue.