Home Ownership Application

Description:

 WELCOME to the 

Path to Home Ownership® Program! 

Over the next few months or years we look forward to helping you grow from being a renter into a home owner! This is an incredible opportunity for you, regardless of your past credit history. Here's our PTHO Process: 

Step One: PRELIMINARY APPLICATION . . . . Helps us determine the size, location and price point of property . . . . . FREE 

Step Two: CREDIT ANALYSIS . . . . . . . . . . . . This determines which program is right for you now . . . . . . . . . . $50/person 

Go to AnnualCreditReport.com (or we can do this together with you) to get copies of your credit report from all three credit bureaus. (This is free once a year and does not affect your credit score). We do not use this to determine your ability to get into the program. 

Step Three: CREDIT RESTORATION . . . . . . . . $499 flat fee for restoration only or $87 per month (includes other services) 

If your credit analysis shows that Credit Restoration is needed, you start with the payment option that's right for you. Credit Restoration is a requirement of the PTHO Program. Higher scores mean lower interest costs on housing, credit cards, auto, insurance and more. You'll typically see results within the first two months and can take up to a year to complete. Anyone can sign up for this life changing program. 

Step Four: APPLY FOR A HOUSE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $35 per person 18 & over 

When we have a house that meets your needs and you like it, then you'll apply for that house. Everyone over the age of 18 who will be living in the home will apply. To qualify, you must match our net income requirement and have a good rental history for 2 years. We need clear copies of your W2's, 3 months of check stubs and other income letters, any debts you have or bills you pay, as well as your driver's license and/or social security card. 

Step Five: MOVE UP THE STEPS TO HOME OWNERSHIP! . . . . . . . . . . . . . . . Option Fee or Down-Payment (amount varies) 

The amount you put down on your home (including grants and repair credits) and current credit will determine what membership level you start on: Bronze (Rent) - Silver (Lease Option/Rent To Own) - Gold (Our In-House Financing Plan) - Platinum (Home Owner). The minimum requirement is your first full month of rent and the equivalent of that as your move-in fee (Rent). Qualify for Rent-to-Own/Lease Option with only 3.5% down (Silver).* Receive In-House Financing with 10% Down (Gold).* 

*Restrictions vary by state. 

Step Six: QUALIFY TO PURCHASE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10% down or 3.7-10% and closing costs* 

Once you have sufficient credit and down-payment, you can qualify for a traditional loan (Platinum member). If you are unable to qualify, no worries! We could help you buy your home using our in-house Seller Financing†. This is available once you put 10% of the asking price as down-payment on the home. The owner will then finance the home to you! You then get all the benefits of being a home owner including tax write-offs and deductions, that will increase your take-home pay! 

*If you are able to qualify we have access to grant money programs to help you with your down payment and/or closing costs! There are qualifications that need to be met to qualify. We will discuss the different options as they become available to you †Not all homes are available for Seller Financing.