John O'Haugherty
Coldwell Banker Realty

Welcome to a New Path for Ownership!

 

HPA Logo

 

Are you close to being able to buy a home, but aren’t quite ready?

Do you need to rent right now, but really want to buy a home in a couple years?

Are you new to the Dallas/Fort Worth area and aren’t sure where you want to live?

If so, Home Partners of America’s Lease with a Right to Purchase Program may be the right choice for you.

How the Program Works

Home Partners provides responsible households with a clear and transparent path to home ownership, 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, and the option to buy at any point.

 

 

Home Partner Advantages

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 sign the Right to Purchase Agreement. Also, with the majority of homes in our area being approved with Home Partners, you can pick almost any home in the MLS that is for sale. The option to rent something for sale means that you will likely find a home that is in better condition than if you were to find a home already listed for rent.

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 Home

Prospective residents will work with a REALTOR® to find a home in an approved community. (See Communities)

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 home not listed on the website is approved, please visit our address checker at addresscheck.homepartners.com.

Home Partners buys, then you lease

Prospective residents will be required to sign a one year Lease for the home as well as Right to Purchase Agreement. (Lease, Deposit Details and Escrow)

Household has the right to purchase

We buy the home.  You lease it and have the right to buy it later if you want to. (Lease, Right to Purchase Agreement, Maintenance Adjustment Included in Purchase Price)