BASIC REQUIREMENTS OF PROSPECTIVE RESIDENT*
• Annual household income of $45,000+
• Stable employment • No pending bankruptcy •
No disqualifying criminal history**
GUIDELINES FOR SEARCHING FOR A HOME TO BE PURCHASED BY HOME PARTNERS
• Home must be located in an approved community
• Home price must be between $100,000 and $400,000***
• Minimum of two above grade bedrooms on a lot of two acres or less
• Single family home or fee-simple townhome
• No short sales, REO or auctions
• No material deficiencies (i.e. major structural issues, solid aluminum wiring, etc.)
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PROSPECTIVE RESIDENTS WHO MIGHT BE RIGHT FOR OUR PROGRAM
• First-time homebuyers who are cautious about buying a home now, but want to be able to purchase a home in the future
• Potential homeowners who recently relocated and are unsure which neighborhood to live in
• Potential homeowners who may not be mortgage ready, but want the benefits of living in a single family home LEASE PURCHASE PROGRAM BENEFITS Transparency: Upon entering this program, prospective residents are given the monthly lease and purchase price information each year for up to five years*, so they can plan for the future. Choices: Home Partners provides access to the MLS listings in approved communities, expanding prospective residents’ selection to all qualifying homes for sale. Value: Home Partners uses our skill to purchase the home the prospective residents want, providing them with an affordable lease and a pre-set purchase price each year for up to five years*. Also, there are no hidden fees or nonrefundable deposits. Control and Flexibility: Prospective residents have the right to purchase the home at any time during their residency, at the pre-set price. If the home value appreciates above this price each year, they realize a financial benefit. If the value of the home appreciates at a lower rate than the pre-set price or declines, they can choose not to renew their lease and walk away without penalty
