A Road to Homeownership That Offers More Flexibility and Control
Lease With The Right to Purchase
There are times in life when you may need to rent, but are looking to buy a home in the future. Maybe you're close, but not quite ready financially to buy a home this year. Perhaps you just moved to the area and aren’t sure where you want to live. If that's the case the Home Partners Lease with a Right to Purchase Program may be just what you need.
What is the Lease with a Right to Purchase Program?
The Lease with a Right to Purchase Program lets you work with Cindy Allen and DFWMoves Real Estate to find a home you want to rent and perhaps own. Home Partners will purchase the home and rent it to you. You can lease the home one year at a time for up to three years, and you may purchase the home from Home Partners at any time for a price predetermined at the start.
Each year the monthly rent can increase by no more than 3.75% above the previous year's monthly rent. For example, if rent in year 1 is $2000, the increase for the next year is $75 per month ($2000 x 1.0375*)
Just like with most other home leases, there's a deposit equal to two months’ rent. If you decide to leave the home at the end of any one-year lease term, the full deposit will be returned to you if the home is in the same condition it was in when you moved in, normal wear and tear excepted. If you decide to purchase at the end of the lease, the full deposit will be credited to the purchase price.