Lease With A Right To Purchase Program
Lease With A Right To Purchase Program
You have rough credit with FICO 625, but your annual income is $50,000 and above? Or you are collecting unemployment benefits that can be verified? Or you cannot afford down payment to buy a house, neither are you ready now for huge mortgage payment with principal, interest, taxes and insurance? Or You are afraid your landlord will sell your current residence and you have to start looking for another place to rent? The fear of not ever owning your own home is a cause for alarm.? IS THIS YOU? FEAR NO MORE.
Choices, Value, Control and Flexibility
1. Find a house
2. Move out after each 1 year lease term without penalty
3. Elect to rent for up to 5 years*
4. Purchase the home any time during tenancy
EVERGREEN HOMES has signed up with a major investment firm which will make the purchase of homes by tenants easier than they would ever dream of. We are working with an amazing Lease with a Right to Purchase program. If you qualify for the program, you get to pick a house that is FOR SALE based on your approved rent, in a community where the investment firm purchases, and you would get to rent that house. The investment firm purchases the home, and you are only obligated to a 1 YEAR LEASE term at a time, with a right to renew your lease for up to 5 years*. You can purchase the home at any time for a pre-agreed upon price. We would love to tell you more.
This program is intended to provide qualified individuals who are currently renting and not yet ready to buy today because of lack of down payment, low FICO, or not enough income at this time to qualify, but with a clear path to homeownership in the near future.
EVERGREEN HOMES IS MAKING HOMEOWNERSHIP A REALITY FOR MORE PEOPLE With our help, we will find you a home in a community you want to live in that is approved by the investment firm, and lease the property for up to 5 years . You have the option of purchasing the home at any time during your tenancy or the option to walk away without penalty at the end of your lease. Our program gives you the opportunity to realize the dream of owning your home. You may be able to increase your Fico, increase your income, and save for your future down payment during your Lease Period.
1. We will invite you to apply for approval at the firm’s site
2. Once approved, we will find a house of your choice at the firm’s approved home areas
3. The investment firm will buy the home and leases it to you up to 5 years so you have the time to have your down payment saved and increase your credit profile.
APPROVAL CRITERIA*
The firm evaluates your household rent-to-income and debt-to-income ratios, rental and housing history, employment history, criminal history, FICO Scores, and other elements of an application
BASIC REQUIREMENTS:
1. Annual household income of at least $50,000
2. Stable employment
3. No rent history of eviction and pending bankruptcy
EVERY HOUSEHOLD MUST PROVIDE:
1. Full Application from everyone 18+ years and older
SUPPORTING DOCUMENTS:
1. Income Verification (2 most recent W2’s, 1099s, pay-stubs, etc.)
Approval Criteria is subject to change. 2 MONTHS BANK STATEMENTS!
RENT DETERMINATION
Rent is based on income to debt ratio, and not on market rent. At time of application, state how much rent you can afford, and when approved, your rent will be structured accordingly.
PROPERTY CRITERIA*
You will work with us to find you a home you would want the firm to buy so you can lease it with the desire to buy the house when your lease expires.
PROPERTY TYPE:
1. Single-family residence or fee-simple townh
2. No condo, commercial or multi-family properties
3. Homeowners associations allowable on a case by case basis
4. Homeowners Association must allow property to be rented with no time limit
5. Pools are permitted in certain areas
SALE TYPE:
1. Standard Sale
2. No REO, short sales, foreclosures or auctions
LOCATION:
1. In an approved community
SIZE:
1. Minimum of 2 bedrooms
2. Lot size of 3 acres or less
MIMUM FICO SCORE
625 on TransUnion Credit Report for each household 18 years and older.
BELOW IS OUR PLAN FOR YOU:
Choices, Value, Control and Flexibility
1. Find a house
2. Move out after each 1 year lease term without penalty
3. Elect to rent for up to 5 years*
4. Purchase the home any time during tenancy
EVERGREEN HOMES has signed up with a major investment firm which will make the purchase of homes by tenants easier than they would ever dream of. We are working with an amazing Lease with a Right to Purchase program. If you qualify for the program, you get to pick a house that is FOR SALE based on your approved rent, in a community where the investment firm purchases, and you would get to rent that house. The investment firm purchases the home, and you are only obligated to a 1 YEAR LEASE term at a time, with a right to renew your lease for up to 5 years*. You can purchase the home at any time for a pre-agreed upon price. We would love to tell you more.
LEASE IT. LOVE IT? BUY IT!
This program is intended to provide qualified individuals who are currently renting and not yet ready to buy today because of lack of down payment, low FICO, or not enough income at this time to qualify, but with a clear path to homeownership in the near future.
EVERGREEN HOMES IS MAKING HOMEOWNERSHIP A REALITY FOR MORE PEOPLE With our help, we will find you a home in a community you want to live in that is approved by the investment firm, and lease the property for up to 5 years . You have the option of purchasing the home at any time during your tenancy or the option to walk away without penalty at the end of your lease. Our program gives you the opportunity to realize the dream of owning your home. You may be able to increase your Fico, increase your income, and save for your future down payment during your Lease Period.
HERE IS WHAT WE WILL DO!
1. We will invite you to apply for approval at the firm’s site
2. Once approved, we will find a house of your choice at the firm’s approved home areas
3. The investment firm will buy the home and leases it to you up to 5 years so you have the time to have your down payment saved and increase your credit profile.
APPROVAL CRITERIA*
The firm evaluates your household rent-to-income and debt-to-income ratios, rental and housing history, employment history, criminal history, FICO Scores, and other elements of an application
BASIC REQUIREMENTS:
1. Annual household income of at least $50,000
2. Stable employment
3. No rent history of eviction and pending bankruptcy
EVERY HOUSEHOLD MUST PROVIDE:
1. Full Application from everyone 18+ years and older
SUPPORTING DOCUMENTS:
1. Income Verification (2 most recent W2’s, 1099s, pay-stubs, etc.)
Approval Criteria is subject to change. 2 MONTHS BANK STATEMENTS!
RENT DETERMINATION
Rent is based on income to debt ratio, and not on market rent. At time of application, state how much rent you can afford, and when approved, your rent will be structured accordingly.
PROPERTY CRITERIA*
You will work with us to find you a home you would want the firm to buy so you can lease it with the desire to buy the house when your lease expires.
The property you desire to buy must meet the following requirements:
PROPERTY TYPE:
1. Single-family residence or fee-simple townh
2. No condo, commercial or multi-family properties
3. Homeowners associations allowable on a case by case basis
4. Homeowners Association must allow property to be rented with no time limit
5. Pools are permitted in certain areas
SALE TYPE:
1. Standard Sale
2. No REO, short sales, foreclosures or auctions
LOCATION:
1. In an approved community
SIZE:
1. Minimum of 2 bedrooms
2. Lot size of 3 acres or less
MIMUM FICO SCORE
625 on TransUnion Credit Report for each household 18 years and older.