RENT THEN BUY!

Hide and Seek

DID YOU JUST MOVE TO THE DALLAS/FORT WORTH AREA AND AREN’T SURE WHERE YOU WANT TO LIVE?

ARE YOU CLOSE TO BEING ABLE TO BUY A HOME BUT AREN’T QUITE READY?

DO YOU NEED TO RENT RIGHT NOW BUT REALLY WANT TO BUY A HOME IN A COUPLE YEARS?

Welcome to a new path to homeownership

 

Did you know YOU CAN RENT THE HOME YOU CHOOSE AND BUY LATER AT A PRESET PRICE? And have up to 5 years to make that purchase? And just like renting a house you can leave at the end of your lease term, as early as one year if you don't like or don't want to purchase the home.

It's a sweet deal for someone who wants to make that next step towards owning their home.

Feature/Benefit
Home Partners
Pathways
Home Location
Single-family or fee-simple townhome in approved community
Single-family or fee-simple townhome in approved community
Age of Home
Less than 100 years old
1960 or later only
Bankruptcy
No open or unsatisfied Chapter 7
Considered if discharged more than 2 years
Home Type
<$500K, minimum 2 bedrooms, < 2 acres, no foreclosures
$150K - $750K, minimum 2 bedrooms, < 1 acres, no foreclosures
Background check, i.e. criminal history
Required
Required
Length of Program
3 Years in Texas
5 Years in Texas
Purchase Option/Price
Right to purchase price* increases by 3% - 5.5% per year.
Annual purchase price provided prior to lease commitment
Rent Amount
Amount varies by home; increases only 3.75% per year during rental period
Amount varies by home and home location with annual increases provided prior to lease commitment
Savings Program
N/A
Savings Match available with opt-in any time during rental (Participant investment)
Application Fee
Less than $100 total
Less than $100 total
Security Deposit Amount
1 - 2 months rent in TX
1 month rent in TX
Pets Allowed?
Yes with pet deposit and monthly fee
Yes with pet deposit and monthly fee
Background Check
No felony conviction last 6 years
Required; specific not available
Eviction History
No unsatisfied rental collection exceeding $250 originated in last 3 years
No eviction last 2 years
Minimum Weighted Credit Score of Applicants
~620+
600+
Minimum Combined HH Income
$40,000
$50,000

Information provided here is based on the Dallas/Fort Worth market area.  There is no guarantee that this information is accurate or includes all program details.  Please refer to each company's website or contact them directly for up-to-date and complete details.

*includes closing costs when Home Partners purchased the home + make ready costs.

HOME PARTNERS OF AMERICA
PATHWAYS