gigi@asalependingre.com 817.797.2840
Glenna (Gigi) Pendleton
Licensed Texas REALTOR #781388
Serving the Dallas/Fort Worth Area
RENT THEN BUY!
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.
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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.
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