For all interested in Cape Coral Rent to Own Homes, prepare to discover a new path to home ownership. As Realtors, we understand that you may very well be close to the point of purchasing a home, but are still not quite ready, right now. Or maybe, you’ve just recently moved to Cape Coral or Fort Myers, yet are not completely sure about where you want to establish roots. Maybe you’re someone who needs to rent for now,
but desires to buy a home in a couple of years. Regardless of the situation, there are great options in Cape Coral Rent to Own Homes. We’ve recently collaborated with Home Partners of America and are excited to share insight on what has proven to be a beneficial new path to home ownership. The Home Partners’ Lease with a Right to Purchase Program may be just right for you.
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 five years of rent certainty with only a one-year financial commitment on the lease.
If you’re interested in Cape Coral Rent to Own Homes, but cannot presently 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.
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 five 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 specific 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 five oneyear 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.
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.
Information on Home Partners’ website is not guaranteed, and is provided exclusively for user’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties in which users may be interested. Home Partners is not a mortgage company, does not have any obligation to provide and does not provide financing and cannot guarantee or in any way assure that a resident will be able to obtain a mortgage if and when he/she wishes to exercise the Right to Purchase.
©2014 Home Partners of America, Inc. All rights reserved. Home Partners and the Home Partners of America, Inc. logo and “A New Path to Homeownership” are pending or registered trademarks and service marks of Home Partners of America, Inc. or its affiliates.