Home Partners of America


Rent To Own Program

You Choose the Home on the Market for Sale You Want to Rent and We’ll Do The Rest

Frequently Asked Questions

1. What is the Lease with a Right to Purchase Program? Our Lease with a Right to Purchase Program (the “RTP Program”) allows you to find a home that you want to rent initially, but you may also like to buy at any time within the next three to five years. We believe that there are many households who may be thinking about buying a home but for whatever reason would like to rent at the current time. You can lease the home for up to to five years and you may purchase the home at any time at a predetermined price in accordance with the Right to Purchase agreement.

2. Who is eligible for the RTP Program? There is a minimum criteria for the program. Your household must have an annual income of $40,000. You must have stable employment. If you or anyone in the household has a history of eviction or a pending bankruptcy you will not be accepted. Everyone in your household will be subject to a criminal background check.

3. How do I apply to the RTP Program? Every member of your household who is 18 years of age or older must complete the Pre-Qualification Application and the Full Application. The Full Application requires certain information, including residence and employment history, for each member of the household. You also must provide income verification for each member of the household whose income is to be considered in determining the rent approval amount in order for your application to be considered complete. If you are moving from a different state or starting a new job, Home Partners will need confirmation of your new job and income. Home Partners takes several factors into consideration when reviewing an application, which include household income, rent-to-income and debt-to-income ratios, rental and housing history, employment history, criminal history, and household minimum FICO® score requirement of 620.

. Home Partners will usually make a decision on your application within 1 to 3 business days of receiving all required information.

4. How much does it cost to participate in the RTP Program? There is a one-time Application Fee between $75-$99 per household that must be paid online as part of the application process. This Application Fee covers all applicants in the household and is nonrefundable.

5. Why might my application be denied? There are several factors taken into consideration when reviewing an application, which include household income, rent-to-income, and debt-to-income ratio, rental and housing history, employment history, criminal history, and FICO® score. Home Partners considers the profile of the entire household when reviewing an application. If your application is denied, you will receive notification in writing.

6. How do I find a home once I’m approved? 

You will work with Helen Hammond, who will be your dedicated Real Estate Agent to search for homes that meet Home Partner's purchasing criteria. Generally, this means that the home should be:

1. Located in an approved community

2. Listed for between $100,000 and $500,000, though exceptions apply;

3. Located on a lot no more than two acres with a minimum of two bedrooms;

4. A single family home or fee-simple townhome; condo associations, condo interests, commercial and multi-family properties are not eligible for the RTP Program;

5. A traditional sale. Short sales, auctions, and REOs are not eligible for the RTP Program;

6. Free from material deficiencies;

7. No guest houses/ in-law suites with separate entrances; Please note we only purchase homes with swimming pools or other water features in certain states. At the current time, Home Partners purchase homes with pools only in Florida, Georgia, Texas, Southern California, Arizona, and Nevada. Once you have selected a home, the Steve Gunter Team Real Estate Agent must submit it to Home Partners online.

8. Is there a required deposit? Yes. Generally, Home Partners require a deposit equal to two months’ rent. This deposit is not applied towards your rent. If you decide to leave the home at the end of any one-year lease term and you have been in compliance with the terms of the lease and return the home in the same condition it was in when you moved in (normal wear and tear excepted), the full deposit will be returned to you or credited to the purchase price if you buy the home. The full deposit (less any outstanding charges owed to Home Partners) is also returned to you if you exercise your Right to Purchase the home.

9. How long does it take from when I select a home to when I move in? On average, it takes approximately five to six weeks from the time we enter into a purchase agreement for a home until the day you are able to move in. There are a number of variables that may affect the move-in timeframe, including the length of negotiation with the seller leading up to when we enter into a purchase agreement, what the home inspection reveals with respect to required repairs, and the renovations you request. We will keep you informed throughout the entire purchase and renovation process so that you are aware of this timing.

10. What happens after I move in? You are our tenant, and Home Partners is your landlord. You have entered into a lease with for one year and are bound to the terms of that agreement. Home Partners will collect your monthly rent and perform any necessary repairs that is their responsibility after you move in.

11. Are the monthly rent payments that I make applied to the purchase price of the home? No. Monthly rent payments are not applied to the purchase price of the home. If you decide to exercise your Right to Purchase, you must pay the full predetermined price as set forth in the Right to Purchase Agreement.

12. How do I exercise my Right to Purchase? You may notify Home Partners at any time that the Lease is in effect that you would like to exercise your Right to Purchase. However, you must provide that notice in writing at least 60 days before you want to complete the purchase. Once you notify Home Partners that you want to exercise your Right to Purchase, they will contact you to get the process started.

13. Can I buy a home in the middle of a lease term or do I have to wait until the end of the year? You can exercise your Right to Purchase at any time during your Lease. However, you must provide a written notice of your intent to exercise at least 60 days before you want the sale to close. In addition, the closing date must occur before the end of the applicable Lease term.

14. Do you provide me with a mortgage or other financing? Home Partners is not a mortgage company and will not provide or arrange a mortgage loan for you. We cannot guarantee that you will be able to obtain a mortgage loan if and when you wish to exercise the Right to Purchase. We encourage you to reach out to our preferred lender to schedule a consultation in seeking a mortgage.

15. Can I have pets in my home? Home Partners’ residents are allowed a maximum number of three (3) pets (cats or dogs) weighing less than 180 pounds in total combined weight. Home Partners expressly prohibits the following dog breeds (including partial mixes of same): Doberman, Pitbull, Rottweiler or Mastiff. Further, livestock/farm animal pets such as pigs, horses, chickens and goats, aquariums over 20 gallons, and exotic, venomous and verminous pets, are not allowed. In most states, there is a $300 nonrefundable per pet fee, refundable upon purchase of the home. Please note that although assistance animals are excluded from Home Partners’ pet policy requirements, supporting documentation is required to qualify as such.

Work With Helen

Get assistance in determining current property value, crafting a competitive offer, writing and negotiating a contract, and much more. Contact me today.

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