AGREEMENT TO FIND A RENT-TO-OWN HOME

We will attempt to find a home that matches your needs and wants that will also be affordable and practical. We want you to move into the home you will love. We don't want you to even consider a home you would not be happy to own and live in. At the same time it is important to understand the "perfect house" might be slightly out of your reach at this time. We need you to be realistic and flexible in your approach to finding a house. We ask four things from our potential clients.

1. YOUR SITUATION MUST BE IMPROVING

   Your situation MUST be improving. If you don't qualify for a mortgage today you will need to make some positive steps. We don't want to make your financial situation worse. We want you to honestly ask yourself if the time is right for you to go into this program. Home ownership can be wonderful but not being able to afford your house can be a nightmare. We want you to succeed!

2. YOU MUST BE ABLE TO PAY ON TIME

   One of the best features of our program is that a portion of your tent will be applied toward your purchase price. This can reduce the purchase price by thousands of dollars. In order for you to get the agreed upon rent credit you must pay your rent on or before the first of the month. If you pay on the second of the month you have thrown away the rent credit for that particular month.

3. YOU MUST THINK AND ACT LIKE A HOME OWNER

   If you enter into our program you need to start thinking like a homeowner. We will do an inspection of our home to make sure everything is working and up to your standards. If you want to have a professional inspect the home at this point you may do so. After that you will be responsible for all the maintenance of the property. Anything structural is not your responsibility, if the roof leaks for example. However the day-to-day maintenance and repairs - such as fixing a leaky toilet or a garbage disposal are your responsibility.

4. THE OPTION CONSIDERATION

   The final requirement of your program is called the option consideration. This is the money you put down on your new home at the start of our program. It allows us to set a purchase price and terms on your new home. Depending on your lender, this money could go up to 100% toward your down payment. If your lender does not allow this, we will credit 100% of your option consideration money to go toward reducing your purchase price.

Since rebuilding your financial strength is a commitment on your part, we cannot guarantee you will get a mortgage. You will need to do your part in rebuilding your financial and credit situation. Many of our clients are surprised to learn how much our program helps them. If you do your part to correct past deficiencies you might be surprised at how quickly you can qualify for a mortgage. We have many contacts within the mortgage industry that specialize in working with people who have had credit or financial difficulties. If you choose not to exercise the option to purchase this home, the option consideration payment is non-refundable. If you choose to exercise your option, it will act as a down payment or reduce the purchase price of your home. If you have paid your rent on time and need additional time to exercise the option we will attempt to accomodate your situation.