HOW IT WORKS:
Here's an overview of how the Home Partners' Lease with a Right to Purchase Program process works, from prequalification to application to approval to home close:
Apply for approval
Prospective residents start the process by filling out a Pre-Qualification Application that checks key issues.*
*Anyone who is 18 years or older and will reside in the home must complete both the Pre-Qualification and the Full Application.
If the Pre-Qualification Application is approved, the applicant will be required to submit a Full Application for a full credit and background check.
If a Full Application is approved, Home Partners will outline the maximum Monthly Rent of the home for which the prospective resident qualifies. (Click here for The Math )
Find a qualified homeFind A Home
Prospective residents will work with a REALTOR® to find a home in an approved community. CLICK HERE for our Comprehensive Property Guide.
Once a home is identified and approved by Home Partners, Home Partners will attempt to purchase the home -- the outcome of which will depend on certain conditions being met such as agreeing on a purchase price with the seller, a satisfactory inspection, attorney review of the purchase contract, and other closing conditions being satisfied.
To see if a list of reasons that homes may be disqualified from our program, please visit our List of Automatic Property Disqualifiers HERE.
To see if a home not listed on the website is in an approved community, please visit our address checker at: www.homepartners.com/how-it-works/addressCheck
Home Partners buys the qualified home, household leases the home
Household has right to purchase the home
About the Program
Home Partners' Lease with a Right to Purchase Program allows you to find a home that you want to rent from us initially, but may also like to buy in the next three to five years. We believe that there are many households who may be thinking about buying a home, but for whatever reason would like to rent at the current time. You can lease the home for three to five one-year terms, depending on the state, and you may purchase the home from us at any time at a predetermined price.