Home Partners provides responsible households with a clear and transparent path to homeownership through its Lease with a Right to Purchase Program. This program provides three years of rent certainty with only a one-year financial commitment on the lease. For a list of Frequently Asked Questions
If you want to own a home but cannot currently qualify for a mortgage, or if you would prefer to rent a home now with the goal of purchasing it in the next three to five years, then this program may be for you. Home Partners doesn’t focus exclusively on your credit score. The full credit profile of your entire household is taken into account when they review your application to the Home Partners program. View the Pre-Qualify document to see if you are eligible to apply. If so, please apply or if you have any questions please contact us to find out possible next steps. Apply to the Lease with a Right to Purchase Program
FIND YOUR DREAM HOME
You should work with your REALTOR® with The Hightower Team to search for homes that meet the purchasing criteria. Generally, this means that the home should be a single family home or fee-simple townhome on no more than 3 acres with a minimum of two bedrooms. It must be located in an approved community and not adjacent to features that may negatively impair value and is listed for between $100,000 and $450,000 in most states, though exceptions apply. Only traditional sales are considered and the property should be free from material deficiencies. * Please note they only purchase homes with swimming pools or other water features in certain states. At the current time, they purchase homes with pools only in the following states: California, Florida, Georgia, Oklahoma, and Texas. Once you have selected a home, the registered REALTOR® with The Hightower Team must submit it online through their portal. Find Your Dream Home
As with a standard lease agreement, Home Partners requires you to sign a lease for a year and make a security deposit. Unlike a standard lease agreement, you will have renewal options providing three years of rent certainty and the right to purchase the home at a price established when you enter the Right to Purchase Agreement, in accordance with the terms of the Agreement. You can also select the home that you want to live in from those eligible and available for sale in communities Home Partners serves – enabling you to live in a neighborhood today where you might not otherwise find a suitable home to rent.
Home Partners buys homes in specifically approved communities, so you can go to their website to see what communities are currently in their program. We will guide you in finding the right home in the right community in the Home Partners’ program. Once you approve the purchase price in your Right to Purchase Agreement, that is the price at which you may purchase the home during the term of the lease, in accordance with the terms of the Agreement, whether the home is later appraised at a higher or lower value. If you do not purchase the home as provided in the Agreement, Home Partners may rent or sell the home to others when your lease ends.
Your initial lease is for one year, so your financial commitment is limited to one year. Your lease is renewable every year for three one‐year periods, and you have the right to notify Home Partners if you don’t want to renew the lease. Your full security deposit will be returned as provided in the lease if you decide to leave the home at the end of a lease period and have been in full compliance with the lease.
RIGHT TO PURCHASE AGREEMENT
Your Right to Purchase Agreement gives you the right to purchase the home you selected from Home Partners at a predetermined price for every year of your lease, as long as you have been in compliance with the Lease Agreement and other documents. You are under no obligation to buy the home from Home Partners.