HOW MUCH IS THE MONTHLY RENT?
Rent is determined by house price, property tax, HOA fees and insurance costs. To state the obvious, rent is more expensive than your cost of ownership once you obtain a mortgage! That is why we offer a penalty-free early lease termination when you buy your Dream home.
Use this calculator to estimate your rent:
CAN I AFFORD THE RENT ON THE HOUSE I WANT?
Great question! We want to see all of our clients become homeowners. But first you need to be able to afford the rent, pay your other bills and build some savings. That is why we limit your rental budget to 1/3 of your household income before taxes. In fact, we encourage our clients to find a home with a smaller monthly payment than the maximum to allow them to save as much as possible during the lease.
HOW MUCH CASH DO I NEED TO JOIN DREAM LEASE TO OWN?
You are going to need the onboarding fee, option payment and 1st month’s rent available. When you add this all up, you should plan on having at least $10,000 available from savings, a 401k plan or gift from a family member.