Apply for approval:
- REALTOR® emails a link to the prospective residents inviting them to create an account.
- Prospective residents start the process by filling out a pre-qualification application that checks key issues. 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.
Find a Home Partners qualified home:
- Prospective residents will work with a REALTOR® to find a Home Partners qualified home.
- 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.
Home Partners purchases the qualified home:
- Once Home Partners’ offer for the home is accepted by the seller, prospective residents will be required to sign a one year Lease for the home as well as a Right to Purchase Agreement.
Right to purchase:
- The resident has the right to purchase the home at any time during their residency at the pre-set purchase price. If the resident chooses not to renew the lease, they can walk away without penalty.