Are you close to being able to buy a home but aren’t quite there? Did you just move to the Kansas City area and aren’t sure where you want to live? Do you need to rent right now but really want to buy a home in a couple years? Home Partners’ Lease with a Right to Purchase Program may be right for you.
The program is very simple: you apply on Home Partners of America’s website, and once approved, we will help you find a home that meets your needs as well as Home Partners' requirements. Home Partners purchases the home and then rents it back to you. The initial lease commitment requires a 12-month lease plus security/pet deposits collected. You may renew the lease each year, up to five years.
And most importantly, you may opt to purchase the home, once you secure your personal mortgage, at the Right-To-Purchase Price originally established and disclosed in your lease.
This is an exciting opportunity, and we urge you to apply to the Lease with a Right to Purchase Program if you think it sounds like a good match for you. You can find more information in the video below and on their website.
Please note the security deposit requirement in MO is equal to 2-months rent and in KS is equal to 1-month's rent (due to local laws). Additional pet deposits will be required. The Right-To-Purchase escalation for the KC Market is currently set at 3.5% versus the 5% as mentioned in the video. All terms and conditions are set by Home Partners of America and may be subject to change.