QR Code Link to This Post Requirements: YOU NEED A 550 CREDIT SCORE AND NEED TO HAVE AN YEARLY INCOME OF 50K
#1 Apply for approval
Prospective residents start the process by filling out a Pre-Qualification Application that checks key issues.*
*Anyone who is 18 years or older and will reside in the home must complete both the Pre-Qualification and the Full Application.
If the Pre-Qualification Application is approved, the applicant will be required to submit a Full Application for a full credit and background check.
If a Full Application is approved, Home Partners will outline the maximum Monthly Rent of the home for which the prospective resident qualifies.
#2 Find a qualified home
Prospective residents will work with a REALTOR® to find a home in an approved community.
Once a home is identified and approved by Home Partners, Home Partners will attempt to purchase the home- the outcome of which will depend on certain conditions being met such as agreeing on a purchase price with the seller, a satisfactory inspection, attorney review of the purchase contract, and other closing conditions being satisfied.
#3 Home Partners buys the qualified home, household leases the home
Propspective residents will be required to sign a one year Lease for the home as well as Right to Purchase Agreement.
#4 Household has right to purchase the home
We buy the home. You lease it and have the right to buy it later if you want to.
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