Our Rent to Home program provides down payment assistance to all buyers enrolled in the program. Our goal is to help you achieve your dream of purchasing your own home.
Who Is This Suitable For?
Many customers in our Rent to Home program are able to qualify for regular mortgages within a single year. However, the only shortcoming they face is a slight shortage of funds for the complete down payment. In such situations, we can help such buyers by assisting them with the required down payment so they can realize their dream of owning a home.
Simple Terms And Conditions
Unlike so many other programs, which promise a lot and fall short of expectations, our Rent to Home program has no hidden clauses. All that is needed to qualify for this program is that the buyer pays all the monthly option and lease payments on time. Then they can leverage the Down Payment Assistance program. For that much-needed financial assistance, we offer our buyers loans, which are low interest!
Topping Up Down Payment
Our low interest loans cover a maximum of 3% of the total purchase cost of your dream home. Therefore, if the purchase price of the home is 250,000 dollars, then our loan provides a maximum of 7,500 dollars. In this manner, you can add to your down payment another 7,500 dollars.
What Happens After The First Year?
Once the first year ends, if you find it difficult to pay off the loan, you can just make monthly payments amounting to the interest applicable. In this manner, you can gradually pay off the amount towards the loan, without incurring a financial burden.
Down Payment Assistance Program Example
Here is an example to illustrate how the Down Payment Assistance Program works:
Amount |
Price |
Purchase price |
250000 |
A. Initial down payment made |
12000 |
B. Rental credits @ 500 dollars/month for 12 months |
6000 |
Accumulated down payment (A + B) |
18000 |
Down payment to bank @ 10% |
25000 |
Remaining own payment needed |
25000 – 18000 = 7000 |
Loan (1 year) |
7500 |
Excess cash in hand |
500 |
Thus, as you can see, opting for the Down Payment Assistance Program works to your advantage!
Benefits You Get:
- Access to a low interest loan
- No interest payment for 1 year
- Only pay interest after 1 year or pay off loan as per financial constraints
- Top up your down payment by loan amount
- Easier to purchase home as down payment increased!
Do Not Let Buying Your Home Remain A Dream!
If you are already part of our Rent To Home Program then the Down Payment Assistance can work to your advantage if you fall short by a small margin. Why hold back from purchasing your dream home just because of a small shortage of funds in down payment? Instead, by opting for our Down Payment Assistance Program you can get a low interest loan, which helps you top up the down payment and easily purchase the house!
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