Metro Atlanta Rent to Own Program
Do you need to rent your dream home before you buy it? Some of my clients have recently bought homes that they had been renting using Metro Atlanta down payment assistance programs. A local Lease with Right to Purchase Program allows credit, income and otherwise-eligible candidates to choose a home for sale from among several highly desirable, pre-approved Metro Atlanta neighborhoods priced up to $550K. Yes, you read “a home for sale.” The program sponsor will buy a property that a qualified candidate wants to rent to own, make repairs and then lease it to them. Those tenants will then have a clear, exclusive and transparent pathway toward the purchase of that home should they so choose.
This may be just the right fit for those who are considering a relocation into or a move around Metro Atlanta and…
- Want more choices in and options for single-family home communities
- Want to compete in a multiple offer situation with (someone else’s) cash
- Want to take advantage of a home buying program and needs time to qualify for the right one
- Are undergoing a life change, but cannot or would prefer not to commit to a mortgage right away
There’s no obligation to buy the property. But if the candidate intends to do so, a local home buying program may be available that can help with the required down payment and closing costs on the purchase.
Do You Meet Some of the Most Important Guidelines?
- Minimum Credit Score: 525
- Minimum Annual Household Income: $50,000
- Minimum Monthly Rental Amount: $1250
The candidate/household must also pass a criminal background check, employment check and further credit evaluation.
If you are not currently working with an agent, please call or write me today at (678) 775-2677 for more details on this exciting Rent to Own Program.