Rent ANY HOME with a Right to Purchase Welcome to a NEW path to ownership®
We are committed to making homeownership a reality for more people. Our process is easy, transparent, and built on a foundation of choice and flexibility. We are helping more people get into great homes, in neighborhoods they love, with the opportunity to build a more secure financial future. Whether you are brand new to Minnesota, a first time homebuyer, or simply would just like to rent a house over and apartment, this program may be for you!
Our program provides responsible households a transparent path to homeownership through its Rent with a Right to Purchase Program. With just one year of rental commitment, you can test drive your next home before you buy at a pre-determined price!
Here's how it works: 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 investor 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. Plus, there is NO PENALTY if you decide not to purchase the home!
Applying for the program: Prospective residents start the process by registering for an account and filling out a Pre-Qualification Application that I send to you over email. When you are ready, let me know and I will send you access to a secured portal where you will be able to fill out a rental application. Anyone who is 18 years or older and will reside in the home must complete both the Pre-Qualification and the Full Application.
Once the Pre-Qualification Application is approved, the applicant will be required to submit a Full Application for a full credit and background check. The Full Application will be 'incomplete' until the application fee is paid in full and all documentation is provided.
Once a Full Application is approved, we will outline the maximum Monthly Rent of the home for which the prospective resident qualifies.
To Qualify: The focus isn't entirely on your credit score. The full credit profile of your entire household is taken into account when they review your application for the program. ✧ 580+ credit score (TransUnion score reviewed only) ✧ Clean rental/criminal background ✧ $45,000+ household income
Selecting Your Rental: This is where the fun begins! Approved prospective residents will work with me, a licensed Realtor®, to find an approved home in your community. This can be ANY home listed on the MLS or For Sale By Owner in the state of Minnesota (certain exclusions apply).
This program is eligible for most suburban Minneapolis/St. Paul communities. I will guide you in finding the right home in the right community for this program.
✧ Listed at $100,000-$400,000 ✧ 2-6 bedrooms ✧ On a lot sized 0-2 acres ✧ No short sales, foreclosures or distressed properties ✧ New construction is allowed with certain conditions (see FAQs for more info) ✧ Condominiums, duplexs, 'mother in law' suites, commercial residences are not allowed
Are you ready to see if this program is right for you?