This is a New Program with a relationship between Coldwell Banker Burnet and Home Partners of America. Now you can lease a home and have the Right to Purchase that home in the future when you can obtain a mortgage.Home Partners will buy the home and lease it to you. You can purchase it at any time in the future under set terms. There are minimum application terms. The program can be great for people with a single event that created a reason for the inability to currently obtain a mortgage, like a short sale, divorce, unpaid medical bills, job history less than 2 years, etc.Home Partners provides responsible households a transparent path to homeownership through its Lease with a Right to Purchase Program. The program provides up to five years of rent certainty (In MN) with an initial financial commitment (Lease) of just one year.This can work for any home that is for sale, in specified school districts including Wayzata, Minnetonka, Westonka, Orono, Hopkins, Edina, East Carver, Chaska, Chanhassen, Eden Prairie and more. As a Real Estate Agent I am using examples of current homes for sale in Eden Prairie, but you can pick out any home that is for sale, and if you qualify to rent it you will retain a Right to Purchase the home for 5 years under set terms. You can then buy the home from Home Partners when you are able to get a mortgage.Example 1; $409,000 home with 5 bedroom and 4 baths and approx. 4,182 finished sq ft, first year lease payment $2,960. Home Partners buys the home and you lease from them with a right to purchase any time up to 5 years under pre set terms.Example 2; A currently MLS listed home with 4 bedrooms and 3 baths 3,508 finished sq ft. listed for $359,900 Home Partners buys the home and you lease from them with a right to purchase, first year lease payment $2,580 to $2,650.Call or email me for more information on this new program. I will explain agency representation on the program and how I might be able to get you in the house you want under a lease with a Right to Purchase.Dave ThorpRealtorColdwell Banker Burnet-Minnetonka Office952-356-585fiveDaveThorp.comOne year lease with 4 year extension. also Right to Purchase the home under set terms.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
