Our Program
A lease-to-own pathway designed to help you turn your savings into homeownership.
Havenstone Homes is your pathway to ownership.
Our program allows you to live in the home you want to buy while you work toward becoming mortgage eligible. It is designed for people who are ready to be homeowners but cannot qualify for a mortgage today whether because of credit history, limited documentation, or other barriers. We purchase the home you choose and lease it to you under a clear agreement. You can buy the home back at any time once you are mortgage-ready. If you have to rent while preparing for a mortgage it might as well be the home you want to own.
Havenstone Homes is your pathway to ownership.
Our program allows you to live in the home you want to buy while you work toward becoming mortgage eligible. It is designed for people who are ready to be homeowners but cannot qualify for a mortgage today whether because of credit history, limited documentation, or other barriers. We purchase the home you choose and lease it to you under a clear agreement. You can buy the home back at any time once you are mortgage-ready. If you have to rent while preparing for a mortgage it might as well be the home you want to own.
Choose any eligible home on the market within program guidelines.
Lease renews for as long as you remain in good standing meaning no minimum or maximum program length.
Lease rate increases by 3 percent every second year*
Right to Purchase is indefinite and can be exercised at any time as long as the lease is not in default.
Right to Purchase price is set at the original home price plus 2 percent if purchased within 6 months, 4 percent if purchased within 1 year, and 6 percent if purchased anytime after 1 year
20 percent of the purchase price plus closing costs (up to 5%) is required as Option Consideration. This is credited toward your future purchase when you buy the property.
Closing costs typically run no more than 5% of the home price, but can sometimes be reduced if the seller provides credits. Clients should budget for a total upfront requirement of about 25% (20% option fee + up to 5% closing costs).
A portion of each monthly payment, when made on time, is credited to reduce your future purchase price.
Lease payments may increase by more than 3 percent if property taxes or other underlying costs rise unusually high
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