HOW THE PROGRAM WORKS
Home Partners provides responsible households with a clear and transparent path to
homeownership through its Lease Purchase Program. This program provides three to five years of rent certainty
with only a one-year financial commitment on the lease.
If you want to own a home but cannot currently 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 three to 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 all homes included from time to time in Home Partners’ program as shown on their website.
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 three to five one-year 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.
RIGHT TO PURCHASE AGREEMENT
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.