Lease to Own: A Path to Homeownership When You’re Almost There

Lease to Own: A Path to Homeownership When You’re Almost There

Not quite qualifying for a home yet? There’s a program worth knowing about — it’s called DreamBuilder, and it’s designed specifically for buyers who are close, but not quite there.

Maybe your debt-to-income ratio is a little high because you co-signed on a loan. Maybe you’re self-employed and your income looks different on paper. Or maybe your credit score just needs a bit more time. DreamBuilder is a lease-to-own program that bridges the gap between where you are now and where you want to be — in a home of your own.

Here’s how it works: You lease the home while building equity through appreciation and on-time payments. When you’re ready — whether that means assuming the existing mortgage or qualifying for new financing — you can purchase it outright.

Basic program guidelines:

• 580 minimum credit score
• 3.5% minimum down payment
• 30-year fixed rate
• FHA standard loan limits (high balance considered case-by-case)
• Primary residence only
• 12 months of documented rental history with no late payments

The first step is getting pre-approved to see if this program is a fit for you.

If you or someone you know has been told “not yet” — this might be the answer. Reach out anytime, I’m always happy to help.