Path to Homeownership: The Lease-Purchase Program

"Stop renting and start saving. Move into your dream home today, buy it when you’re ready."

1. What exactly is a Lease-Purchase program?

It is a "rent-to-own" model designed to bridge the gap to homeownership. You choose a home on the market, our investor partner (since 2022) buys it in all-cash, and you move in as a tenant. A portion of your monthly payment is automatically set aside as "Home Savings," which builds up over time to become your future down payment.

2. How much do I need to get started?

You only need an initial contribution of 1% to 2% of the home’s purchase price. Compared to a traditional 10% or 20% down payment, this significantly lowers the barrier to entry while allowing you to lock in the home you actually want today.

3. How does the "Home Savings" part work?

Every month, about 10% to 25% of your total payment goes into a dedicated savings account. You aren't just paying a landlord; you are essentially paying your future self. By the end of a 3-year lease, most residents have saved enough for a full mortgage down payment.

4. What are the basic qualifications?

The program is much more flexible than a traditional bank. The general requirements are:

5. Can I pick any home on the market?

Mostly, yes! You can shop for single-family homes or fee-simple townhomes within your approved budget. The home must be in an investor approved metro area and meet certain "move-in ready" safety and quality standards. (Note: Condos and mobile homes generally do not qualify).

6. When can I actually buy the home?

You can buy the home from the investor at any time during your 3-year lease. There is no penalty for buying early—in fact, there is often a discount on the purchase price if you buy within the first 18 months!

7. Who is responsible for maintenance and repairs?

While you are in the lease phase, the investor acts as the landlord and covers major maintenance and repair costs (like a broken HVAC or a leaky roof). This allows you to "test drive" the home without the stress of unexpected repair bills while you're still saving.

8. What happens to the price of the home if the market goes up?

Your future buyout price is locked in upfront before you even sign the lease. If the home’s value skyrockets during your 3-year term, you still get to buy it at the predetermined price, meaning you keep all that "instant equity."

9. What if I decide I don’t want to buy the house?

Life happens. If you decide not to buy, you can walk away at the end of your lease (with 60 days' notice). The investor will return your accumulated "Home Savings," minus a re-listing fee (usually 2% of the original purchase price) to cover their costs of selling the home.

10. How do I get started?

The first step is a 5-minute pre-qualification. It’s a "soft" credit pull, so it won’t hurt your score. Once approved, we’ll get your shopping budget, and I’ll start showing you homes that fit the program!