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Rent-To-Buy FAQ

How does it work?

We help renters transition to homeownership. We allow our customers to select their dream home and rent it for up to 2 years while they get ready for a mortgage. We buy a qualified home for sale for cash, close in just 21 days, then pair you with a Homeownership Coach (for free!) who will get you mortgage-ready in as short as 3 months and up to 24 months. Click the button below to check out all steps of the journey:

How does it compare to renting?

Unlike traditional renting, we offer a pathway to homeownership by letting you choose almost any home listed for sale and rent it while you save up to buy that same home.

How long is the program?

We offer a 1-year and 2-year program. If you reach mortgage eligibility sooner, you can purchase the home at any time.  On the flipside, if a client needs more time, we are happy to work with them to make sure their homeownership goal can be achieved.

What documents do I need?

Once you are prequalified, you will need to provide documentation to verify your income. 

  •  Last year’s Tax Return

  •  2 recent bank statements

  • 2 recent pay stubs

  •  Last year’s W2

How much do I need down?

Down payment for the home is normally 2% of the purchase price. Ex. A home worth $200,000 would require a $4,000 down payment.

What homes are eligible?

Most move-in ready homes on the market are eligible for the program, but there are also some specific eligibility criteria.

  • Priced up to $500,000
  •  Single-family home or fee-simple townhouse only. (No condos, trailers, modular, or manufactured homes.)
  • Move-in ready condition; we cannot work with “as is” listings.
  • Cannot have water, termites, foundation, or roof damage.
  • Built in 1978 or later – older homes will be considered on a case-by-case basis


What are my monthly payments?

Your monthly payment is divided into two parts. Rent, which is based on the market rental prices in your area, and a contribution to your down payment savings. If applicable, HOA fees are also added to your rent.

Crunch a few numbers with our Budget Chart to see how we break down the monthly payment. 

What price will I pay for the house?

If you buy your home within the first 12 months of the program, you’ll pay a buyback price that’s 4% higher than the home’s original appraised value. After 12 months, the price climbs by 1% every 3 months, reaching 8% in 24 months.

What if I want to exit the program?

We always hope you’ll complete the homeownership program, but you’re free to exit at any time for any reason.

Because we bought a house expecting to sell it to you, we need to sell it to someone else using a real estate agent, which costs 6%. We split that cost with you, which means you pay a relisting fee of 3% of the appraised value when we bought the home. We pay the rest of the real estate commission to the real estate agent.

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