(804) 997-1913
LEASE WITH THE RIGHT TO PURCHASE
HOME BUYER PROGRAM
* You do not have to be a first-time home buyer to qualify *
Are You:
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First-time home buyer cautious about buying now, but want to in the future
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Unable to qualify for a mortgage at the moment
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Relocating and unsure of which neighborhood to live in
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Renters looking for a quality single-family home
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Discouraged traditional home buyers who are challenged with getting offers accepted​
Benefits to Residence:
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You choose from qualifying homes listed for sale in eligible communities
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1-year lease with the opportunity to renew each year, up to 5 years
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Transparent monthly rent and purchase prices for each year that helps you plan and budget for the future
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If the home value appreciates above the pre-agreed purchase price, you begin homeownership with built-in equity
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If the home value does not appreciate, there is no obligation to purchase, and you can walk away without penalty
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Access to third-party financial resources that provide you with guidance through debt and credit issues
Resident Qualification:
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​Evaluation of rent-to-income and debt-to-income ratios, FICO scores, housing, employment, and criminal history, and other considerations.
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Annual household income of $40,000+
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Proof of income
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No open Chapter 7 bankruptcy
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No disqualifying criminal history
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A minimum of 45 days from date of application to move-in
or
RICHMOND, VA and SURROUNDING COUNTIES APPROVED CITIES/COMMUNITIES
Bellwood, Bensley, Bon Air, Brandermill, Chamberlayne, Chester, East Highland Park, Enon, Ettrick, Glen Allen, Highland Springs, Innsbrook, Lakeside, Laurel, Manchester, Matoaca, Meadowbrook, Mechanicsville, Montrose, Richmond, Rockwood, Sandston, Woodlake