Stop Dreaming & Start Packing
Get Ready for HomeOwnership
Rent vs Own
Most renters dream of becoming homeowners, but credit, financial, and employment hurdles can stand in the way.
If this sounds familiar, our unique Lease Then Buy program was designed with you in mind.
Instead of renting year after year while you wait to qualify for a mortgage, why not lease the home you want to buy!
Choose it, move in, lease it, and when you're ready, buy it. Lease Then Buy makes that possible.
Your journey to homeownership just got a whole lot easier.
You will need a 620 credit score to get started. Not sure where you are? Get a free credit report at Credit Sesame.
Benefits of Our Program:
Flexible Path to Ownership
Our program offers you the flexibility to move into your desired home right away, without the immediate need for a traditional mortgage. Take your time, settle in, and buy the property on your own terms when you're ready.
Freeze the Market, Lock in Your Purchase Price
One of the unique benefits of our program is the ability to lock in your home purchase price. This means that even if the market prices rise during your lease period, your purchase price remains unchanged. You can have peace of mind knowing that you're protected against market fluctuations.
Try Before You Buy
A significant benefit of our program is the opportunity to try out the home before making a long-term commitment. Live in the property during the lease period and experience firsthand if it suits your lifestyle, neighborhood preferences, and meets all your expectations.
What People Are Saying
After being financially destroyed from the recession of 2008-2010, we found ourselves in a difficult position. We had a great income and could afford to buy but we were unable to due to financial regulations. This program gave us the best option to live in the home we want to buy at an affordable price. Highly recommend for those who find themselves in a similar situation.
~ Michael H.
We purchased our home after two years! Thank You for making our dream of owning a home again a reality! The purchase process was quick and seamless!
~ Rebecca L.
You made our dream a REALITY . We are very grateful for your program. It was EXACTLY what we were looking for. Moving into a home that we would buy later, so that we don't have to move again and again. Our family has the stability we were after.
~ Enrique M.
How It Works
We understand that the journey to homeownership can seem daunting, but with our Lease Then Buy Program, we've simplified the process to make it accessible and achievable for you. Here's a step-by-step guide on how it works.
01. APPLY
Fill out our short application in order to pre-qualify for the program.
02. QUALIFY
Once pre-qualified, we need to verify everything then give you a budget to go shopping with.
03. START SHOPPING
Team up with one of our Realtors to help you find the right house and negotiate a great price.
04. GO UNDER CONTRACT
Prepare your first and last month's rent while we handle all of the paperwork and buy the house.
05. LEASE AND MOVE IN
You're all set to move in! So pack up and reserve the truck. You have 3-5 years to try out the house.
06. PURCHASE
When you're ready, work with one of our mortgage lenders to buy the house for your agreed upon price.
At every stage of the journey, our dedicated team will be there to support and assist you.
We're committed to making your path to homeownership as smooth as possible.
How to Qualify
We like to keep things simple so we don't waste anyone's time. Our application asks 13 questions and does not pull on your credit.
It's free to apply and gives us a better idea of your eligibility for the program. Below are a few criteria we look for.
INCOME > Typical income requirement is three times your rent. Minimum income is $40,000. This is the combined income for everyone over the age of 18 living in the home with you.
CREDIT > Credit score plays a minor role in that the minimum credit score we can work with is 620. If you don't know your score, use Credit Sesame to check it for free.
OCCUPANCY > There are laws preventing multiple roommates from leasing homes in certain neighborhoods. To be able to shop anywhere, we only allow two non-relative roommates. If three people want to buy together, two of them must be related or dependents.
TAXES > You will need proof of income and two years of applicable tax returns. If you owe back-taxes, we can work with that.
PREVIOUS PROBLEMS > Prior evictions, current collections, current bk7, and criminal history could disqualify you. Each situation is different, however you must pass a background check.
Most Asked Questions
Q: How does the Lease Then Buy Program work?
Our program allows you to lease a home with the option to buy it in the future. You'll enter into a lease agreement for a specified period, during which you can live in the home and work towards securing a mortgage. When you're ready, you have the option to purchase the property at the agreed upon price set at the beginning of your lease.
Q: Who is eligible for the Lease Then Buy Program?
Our program is designed to help individuals who may not qualify for traditional mortgages due to short employment history, credit challenges, insufficient down payment, or other factors. We have flexible eligibility criteria, and our team will review your application to determine if you meet the requirements.
Q: Can I choose any home under this program?
Ha! We wish! Most of the single family homes on the market will qualify. The financial backers do have a list of criteria for the homes. Here are a few of the major points. A full list is available to check after you qualify.
They must be able to own the land under it. This can easily be checked by looking for the LOT number. So no apartments or condos stacked on top of each other.
There are also other restrictions like no solar panels that are being leased and no pools unless you are in the southern states.
The home must have a decent school district.
No fixer-uppers. The home must be able to be immediately resold if you walk away from the program.
This is all good news for you. By being restrictive up front, it will save you many headaches when it comes time for you to sell this home and pocket your equity.
Q: How long is the lease period?
Your lease will be 12 months long. You have the option to renew that lease another year for up to 3 years in Texas and 5 years everywhere else. We hope this provides you with ample time to stabilize your finances, improve your credit, and prepare for homeownership.
Q: What happens if I decide not to buy the home at the end of the lease?
If you decide not to exercise your option to purchase the property at the end of the lease, you can simply walk away without any further obligations or penalties. We will return your deposit so you'll have the flexibility to explore other housing options or start over with another home if you so desire.
Q: Can I make improvements or modifications to the home during the lease?
Ummm, no. We understand that you may want to personalize the home to your liking. We encourage you to hold off on all of your changes until you actually purchase the home. You don't want to make improvements on the home with the intentions of buying it, only to have to move out because of a flood or a job transfer.
Q: What happens if the property value changes during the lease period?
Cha-Ching! The purchase price of the property is agreed upon at the beginning of the lease, providing you with certainty and protection against potential market fluctuations. Regardless of any changes in the property's value, your purchase price remains the same. If the value goes up, you have instant equity when you buy it. If the value goes down, you may want to find another home and start over. To be transparent, the big dogs are in this to make money while also helping you get the home you want. After all, you'll be tying up thousands of dollars of their money until you buy the house. It is in your best interest to work hard and buy the house as soon as you can so the equity is all yours.
Q: Are there any upfront fees or additional costs involved?
The pre-application is free. The full application is not. We strive to keep the program accessible, and we aim to minimize upfront costs. There are minimal application and administrative fees, these will be clearly communicated to you when you fill out your full application. Additionally, you'll be responsible for standard utilities and maintenance expenses during the lease period.
Q: Can I qualify for a mortgage during the lease period?
Yes! Please do. Our program is designed to give you the time and support needed to improve your financial standing and qualify for a mortgage. We encourage you to work on strengthening your credit, saving for a down payment, and meeting other mortgage requirements during the lease period. You can purchase the home after you have lived there for 6 months.
Q: How do I get started with the Lease Then Buy Program?
Getting started is easy! Simply complete our online application to begin the pre-qualification process. Our team will review your application and guide you through the next steps, helping you find the right home and assisting you throughout your journey towards homeownership.
Feel free to contact us
You have questions and we have answers.
The fastest way to reach us is via email or text.
