Home ownership isn't out of reach!
Almost but not quite there, but sick of renting?
Are you having trouble qualifying for a mortgage? You do have options! Rent-to-own is a real possibility. Here are three legitimate lease-purchase programs I can help you navigate:
Landis’ mission is to guide renters on their path to homeownership, and it’s a good solution for people who don’t have enough saved for a down payment or a high enough credit score to qualify for a mortgage and could benefit from credit coaching. Here’s how it works.
• Apply online to see if you qualify. The application is free and won’t impact your credit.
• Once approved, Landis will give you a home budget, and I’ll take you to see houses.
• Find your home. Landis will buy it and you’ll move in as a renter.
• Buy your home from Landis in about a year. They’ll provide free credit coaching and a down payment savings plan to help you get there.
Home Partners of America
The Home Partners of America Lease Purchase Program is a solution to help get people into a home they love, even if they aren’t ready or able to purchase it right now. You have the ability to choose a qualifying home listed for sale and rent it from Home Partners with the right to purchase it when you're ready. The rent and right to purchase amounts are provided before signing the lease. If you decide you do not want to purchase the house, you can walk away at the end of your lease.
Divvy
Divvy's rent-to-own model offers you a safe alternative form of financing so you can get into a home today today, even if you don't qualify for a mortgage or have money saved up for a down payment. You choose a home that is for sale and Divvy buys it on your behalf, with 2% due upfront. Then you rent it from Divvy with monthly payments that are divided between rent and a home savings account---so you are saving automatically for your future down payment! You can buy the home at any point during your 3-year lease using those savings as a down payment for a mortgage. If you decide not to buy the home at the end of your lease, you can walk away with your savings minus a 2% re-listing fee.
Does rent-to-own sound like it might work for you? Give me a call at 646-898-6901 and we can get started!
Further reading:
Landis’s Lease-to-Own Model & Black Homeownership