The major requirements are: Total household income ( the total income of all working adults) must be $0,000 or more. Your credit score needs to be 600 or higher. You must have 45 days or more before you need to move in. You can not have a violent criminal history. *other terms and conditions may apply.
Once we deem this is a potential fit and that you meet all of the major requirements, we will send you a link to our application portal. The application is a basic rental application. You will need to verify income/employment history. There is a one time application fee of $75.00 for the entire household. Typically, you will get an approval answer within 3 business days.
Rental rates are heavily determined by the sales price of the home. However, other factors like HOA, Taxes, CDD fees and features such as a pool all get factored in. Rental rates typically range from $1,250/mo+
Any home between $150,000-$450,000 that is in an approved area is available on this program. Most major areas in Florida are approved. We will verify this with you during the pre-approval stage.
You are not required to buy the home. However, you do have the option to purchase though. Here is how that works. You are not contributing dollars monthly towards the purchase. This ensures that you are not tied to the house in any way. Instead, we share the equity. On average, your purchase price increases 5% each year. The average equity in a home increases 10% each year. This puts you in a nice equite position if you choose to purchase. You can decide to purchase the home at any time in the 5 year period.