How it works

The program provides 3 to 5 years of rental certainty, but you are financially committed to a one-year lease term.

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The Process

If you want to own a home but are currently unable to secure 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 of America doesn't focus exclusively on your credit score. The full credit profile of your entire household is considered when your application is reviewed for the Home Partners of America program.

 

​Perks

As with a standard lease agreement, Home Partners of America 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 3 to 5 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 any home that’s available as shown on their website.

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Things to consider

Home Partners of America buys homes in select communities, so you can go to their website to see what communities are currently in their 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 elect not to purchase the home as provided in the agreement, Home Partners of America reserves the right to lease or sell the home to another party when your lease ends.

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Lease Agreement

Your initial lease is for one year, so your financial commitment is limited to one year. Your lease is renewable every year for 3 to 5 one-year periods, and you have the right to notify Home Partners of America if you do not desire to renew your lease. Your full security deposit will be returned as detailed in the lease, provided you leave the home at the end of a lease period, and have been in full compliance with the lease agreement.

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Right-to-Purchase Agreement

Your Right to Purchase Agreement gives you the right to purchase the home you selected from Home Partners of America at a predetermined price for every year of your lease provided you have been in compliance with all agreements. However, you are not obligated to buy the home from Home Partners of America.