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Lease with a Right to Purchase: Easily Take the Step to Homeownership

Great news for Pittsburgh renters: Home Partners of America just expanded its Lease with a Right to Purchase program into the Pittsburgh market. If you have been thinking about buying a home in Pittsburgh but want to rent in the short-term, this program is a great option to easily transition from renting to owning a home.

About HPA’s Lease with a Right to Purchase Program

a couple of future homeowners standing outside a houseHome Partners of America purchases homes across the nation, leases the homes to tenants for a certain time frame, and gives tenants the option to buy the home during that timeframe.

Your only financial commitment is renting the home for one year, and you have no obligation to buy the home if you have a change of heart.

 

How to Get Started

The process starts when tenants fill out a prequalification application and pay a one-time fee of just $75. After the prequalification application is approved, tenants then submit a full application that covers a credit check and background check, after which HPA will work with tenants to determine maximum monthly rent.

The prequalification process is also more flexible than a mortgage application, meaning that tenants who may not yet be able to qualify for a mortgage can qualify for the Lease with a Right to Purchase program.

Qualifications

House and keys on white isolated background. 3dSuccessful qualification for the Lease with a Right to Purchase program means that tenants should have:

  • annual household income of at least $50,000
  • stable employment
  • no history of eviction, apartment collections, or open bankruptcies
  • no criminal convictions
  • FICO score of at least 525

We Can Help You Find a Home

If you would like more information about the Lease with a Right to Purchase program or want to register for the program, contact us today at 724-344-4795.

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