Adriane Terrell was one of the first Realtors to be part of this Lease with Rights to Purchase program. Over the course of 6 plus years she has been able to help multiple individuals and families secure a home to rent then to purchase the same home later.
The program is now partnered with a company where the equity in the home can also be applied to the purchase of the program. It is a pilot program that is helping more families become home owners.
Out of the 2 programs this one has lease amount at the lowest!!!
The steps are just as easy as 1, 2, 3..
Once you are qualified then Adriane will send you homes that are currently listed for Sell for you to preview and choose from.
Lease w/Option To Purchase Program provides responsible households who cannot obtain a mortgage a transparent path to home ownership. The program provides a lease with just a one year financial commitment for up to 3 years.
READ THE LIST ENTIRELY TO SEE IF YOU FIT THE CRITERIA.
How It works;
1. Apply for Approval (5 minute application)
* Everyone in the household 18 years or older must apply.
* ONLY Requirements: NO FELONIES, NO EVICTIONS
* Transunion of 550 or higher credit score.
* Application fee is $99 per household
* Chapter 7 bankruptcies must be discharged before applying (no pending bankruptcies)
* Prove out that your household income is at least $60k a year
* If moving to Texas must submit on corporate letter head employment verification with stated annual income.
2. Find a Home (You can pick any home on the MLS, price range from $100K-$400K)
3. You work with Adriane Terrell as your Real Estate Agent to find the home you want Lease/Buy.
4. The security deposit (equal to two months lease) is fully refundable(minus any damages) at the end of your yearly lease. If you decide to purchase the home then the deposit is applied towards your purchase.
- Last two pay stubs
- Most recent W-2
- Most recent tax return (If Self-Employed)
- Last two quarters of P&L statements (required for small business owners) do not over write off on that statement. To qualify for a reasonable dollar amount home show as much as income as possible.
The home must be in an approved community and meet our basic criteria. We buy the home, you lease it from us, you purchase the home at a later date, within 3 years.
To get started fill out this form and it'll hyperlink you to the application.
Copyright © adriane terrell | All Rights Reserved. Mike Mazyck Realty is. An Equal Opportunity Company. Equal Housing Opportunity. Each Mike Mazyck Realtor is independentl. Listing information is deemed reliable but not guaranteed.
Mike Mazyck Realty
( 972) 971-4883