Lease-To-Own Programs
Who do we typically help?
- Clients that cannot currently qualify for a mortgage
- Last minute problems closing with a mortgage
- Bridge between renting & purchasing
COMPANY / APPLICATION LINKS
|
MINIMUM CREDIT SCORE
|
MINIMUM MONTHLY INCOME
|
MINIMUM SAVINGS / DOWN PAYMENT
|
MONTHLY RENT
|
DIVVY HOMES |
550 FICO
|
$2,400 per month (Last 6 months)
|
Initial Contribution:
A one-time, upfront contribution to go toward your Home Savings (2% of the home value / price). |
Rent + Home Savings
Rent is based on the fair market rent of your city. Home Savings is what we set aside for you to save up little by little for your future down payment (approximately 0.10%-0.25% of home value). |
DREAM AMERICA
|
500 FICO
+ 12 month history of on-time rent payments |
Minimum to qualify for $150,000 house:
$4,000/month pre-tax household income (applicant + co-applicant, if any) |
$5,000 cash available now from savings, 401k, or gift
|
Determined by house price, property tax, HOA fees and insurance costs. Rent is more expensive than your cost of ownership once you obtain a mortgage! That is why we offer a penalty-free early lease termination when you buy your Dream home.
|
Watch intro video/client testimonials:
Click Here to learn about the Dream America program! Click Here to listen to Trina who is now a homeowner! Click Here to hear Denita discuss how Dream America is helping Veterans! |
HALO |
480, with a clear path to reaching 620 within 36 months (don't worry, we can help you get there)
|
$4500/month
|
Based on standard FHA down payment guidelines, we require that you have cash equal to 3.5% of the purchase price in order to enter the HALO program.
|
Lease terms are determined on an individual basis and factor in the cost of the home, property taxes, HOA fees (if any) and insurance costs. Rents start at $1,300/month.
|
550
Several factors taken into consideration: (household income, rent-to-income and debt-to-income ratios, rental and housing history, employment history, criminal history, and FICO® scores.) When there are multiple people, not an average of the scores. Will also look at the income. Whoever has the highest income, their credit score will carry the heaviest weight. |
$3,750 per month
$45,000 per year |
2 months’ rent, plus $75 application fee.
One-time Application Fee between $75-$99 per household that must be paid online as part of the application process. This Application Fee covers all applicants in the household and is nonrefundable. |
Will outline the maximum Monthly Rent of the home for which the prospective resident qualifies. (Click here for The Math).
Each year, a resident's Monthly Rent increases by no more than 3.75% over the previous year’s Monthly Rent. For example, if the Monthly Rent for Year 1 is $1,400 per month, the increase for the next year is $50/month (i.e., $1,400 x 1.0375)*. |
PATHWAY HOMESTo apply, click here, and type "PATHWAY HOMES" in the Subject Line.
|
600 Min Transunion Credit Score
|
$50,000+ Household Income
|
$0 Savings
|
No evictions in last 2 years and must pass a background check
|
The following program only provides a 6 month lease, therefore you must already have a Preapproval Letter from a Mortgage Lender in order to qualify for this program.
RIBBON HOME
|
Especially in a competitive market like the one we’re seeing now, the key is surprisingly simple--lead with your best offer, and if possible, pay in cash.
|
The steps in the Ribbon program are:
|
Ribbon Buy Box:
Price range: 150K - 700K 4 acres and under Built after 1975 or renovated NO: mobile, manufactured, modular, seller possession, as-is, flips, Fixer-uppers, Renovation Specials, investment/vacation/secondary homes, foreclosures, short sales, estate sales (by case), seller post-occupancy. |
© 2006 - 2022 Elegance Realty, LLC
All rights reserved.
Office: 678-757-5364 | support@yournewatlantahome.com
Elegance Realty provides Professional Real Estate Services to Buyers and Sellers in the Atlanta GA metropolitan area.
All rights reserved.
Office: 678-757-5364 | support@yournewatlantahome.com
Elegance Realty provides Professional Real Estate Services to Buyers and Sellers in the Atlanta GA metropolitan area.