If you are employed as a W2 wage earner (you work for someone and get a paycheck), you will need to supply your last four pay stubs. If you are self-employed, or work as a 1099 contractor, we prefer your last tax return (page 1 only). We will also accept your last THREE bank statements (page 1 that shows total deposits, withdraws, etc.) for the account used for your business or 1099 income.
Questions about our Lease Option to Home Ownership Program.
Because of the way our program is structured, we do not allow a co-signer to guarantee rent unless they plan to live there and plan to purchase the home with you. The goal is home ownership, if you do not have the income required to pay the rent, you won’t be able to get a mortgage to purchase the property.
The most common forms of documentation people provide for income verification are:
- The 4 most recent pay stubs
- The 3 most recent bank statements
- A tax return from within the last 2 years
Additionally, under rare but certain circumstances we can accept letters of employment, investment or cryptocurrency account statements, and other documents showing proof of income or assets.
Yes, awards letters such as social security income (SSI), disability, and others are considered viable sources of income if documentation can be provided.
All our homes are on a “first-come, first-serve” basis for the first approved applicant(s) that have the full move-in amount and decide they want the home. We are unable to hold any of our homes until you are approved, have the full move in amount, and complete the paperwork.
We do not have any properties to rent, we only have homes for people who want to own their own home. If you are just looking to rent a property for a year or two, we most likely are not going to be the best fit for you and your family.
Any utility bills are ultimately your responsibility. Lienable bills like water or sewage may be kept in our name to ensure their prompt payment, and in those instances the bills will be uploaded to your account for you to reimburse us.
All our homes are conveyed in clean, livable, as-is condition. Some people may choose to make minor cosmetic updates or changes to the homes, but it all depends on your preferences!
Some homes may have appliances, small furniture, window treatments, or other items. Anything there when you move in is considered part of the home, unless stated otherwise. If you were ever to decide to move out of the home, they would be expected to stay with the home, however.
Occasionally we have a promotion where we will match anything you put down on your home over the minimum $3,900 down (up to $10,000). If you don’t see this on the advertisement for the home you are interested in, ask us about it!
We believe in using the “carrot” instead of the “stick” so we do not have any late payment penalties. What we have instead is an “on-time-payment discount” where your monthly payment is reduced by $100 if you are paid up in full by the 1st of each month.