Home Partners of America – Lease with Right to Purchase Program – Baltimore, Maryland

Do you have an annual household income of at least  $50k?

Do you have at least twice your target rent available in a bank account?

Do you have at least $3600 or more available in a bank account?

Do you have bad credit, and currently working to make it better?

Do you have at least 90 days left on your lease, or on a month-month lease?

Do you want to buy a home in 1 – 5 years?

If your answer is YES, and I hope it’s YES, then take a peek below to learn more about the Home Partners of America Lease with a Right to Purchase Program in Baltimore MD.

What is Home Partners of America in Baltimore Maryland and what do they offer?

  • Home Partners of America is a Lease with Right to Purchase Program
  • Lease home for 1 – 5 years
  • Only 3.5% – 5% yearly increase in purchase price
  • Only 3.75% yearly increase in rental price
  • Gain the benefit of moving into your dream home in the neighborhood you love in the next 45 – 90 days.
  • After 90 days of tenancy and 60 days of written notice the Tenant can exercise their option to buy the home
  • All homes are in top 50% public high school in metro region
  • Benefit from Public Schools in the top 50% in metro region

Choose Homes that cost between $100,000 – $400,000

  • 2 – 6 Bedrooms
  • 0 – 3 acre lot
  • Single Family Home or fee simple Town home 
  • Home must be located in approved community

The estimated total acquisition cost of a home purchased through Home Partners – Lease with a Right to Purchase Program in Baltimore, MD includes: 

  • Purchase price
  • Closing costs
  • Make-Ready repairs
  • Household requested renovations

Who Does Home Partners of America Help?

  • First-time homebuyers who are cautious about buying a home now, but want to be able to purchase a home in the future
  • Potential homeowners who cannot obtain a mortgage, but who want to live in a community with great schools
  • People looking to purchase a home within the next 1 – 2 years
  • People who are actively working on their credit to buy a home, but want their children to benefit from better schools, school districts and neighborhoods

What Qualifications or requirements do I need to have to apply?

  • Pre-qualification is free. If you pre-qualify you will be prompted to complete the full application.

Basic Requirements

      • Annual household income of $50k
      • Stable employment
      • No pending bankruptcy
      • No disqualifying criminal history

Pre-Qualification Requirements

      • Minimum $50,000 household income
      • Proof of Income
        • Two paystubs if employed
        • Last year’s tax returns if self-employed
        • A letter from their employer with income stated if a transferee
      • Bank statement demonstrating two-month’s deposit plus first month’s pro rata rent
      • No pending bankruptcy
      • No eviction in the past five years
      • No disqualifying criminal background

No history of the following:

      • Recent eviction or default under a lease agreement in the past five years
      • Outstanding apartment or utilities collections
      • Unsatisfied tax liens
      • An open/pending Chapter 7 bankruptcy
      • Unacceptable criminal history
      • Reported property damage in the last 5 years

How Does Home Partners of America Work?

  1. Complete Pre-Qualification Application (Free)
  2. Complete Full Application (Everyone 18 years or older needs to apply regardless of their financial contribution to the household)
  3. Pay $75 application fee per household
  4. Receive Confirmation email
  5. Wait 1-3 Days for Home Partners of America to Process
  6. Approval letter must be signed if approved. Approved households will receive a next step email. Encourage approved households to consult an attorney or advisor to review lease with right to purchase agreement 
  7. Search for home within approved price limit
  8. Pick your dream home
  9. Realtor will submit home to home partners of America for approval
  10. Wait for offer to be accepted between seller and home partners of America
  11. Within 2 business days of an accepted contract, the household will DocuSign both agreements & return to Home Partners with 2 months deposit.
  12. Deposit will go towards purchase price of the home. If you don’t decide to purchase home your deposit will be handled like a regular security deposit.
  13. 5 – 6 weeks from date property goes under contract to move in date.

The estimated total acquisition cost of a home purchased through Home Partners – Lease with a Right to Purchase Program in Baltimore, Maryland includes:

  • Purchase price
  • Closing costs
  • Make-Ready repairs
  • Household requested renovations
  • Ultimately, the total of these acquisition costs will be considered the purchase price of the home and used to apply your yearly 5% increase in purchase price.

Why Should I choose Home Partners of America?

  • Helped over 6000 households to date
  • Program is in  40 markets, in over 20 Staes nationwide
  • Ready to approach homeownership 
  • Tired of renting without the opportunity to own

When Should I apply for Home Partners of America?

Right now!! But more importantly when you have all of your application documents ready to upload.

Upload Documents

      1. Proof of income including pay stubs
      2. last year’s tax returns if self-employed,
      3. a letter from their employer for transferees
      4. any other proof of income that the prospective household wants Home Partners to consider.

Other Documents you may need:

      • Child support or alimony / court order and payment history for the last 6 months
      • Social security/disability/retirement – most recent award letter or benefit statement
      • Checking,saving, money market or equally liquid bank / bank statement that is no older than 30 days old

Receive your link today to begin your application for Home Partners of America in Baltimore, Maryland.