Are rent payments applied to the sales price on the Home Partners Of America Lease with A Right To Purchase Program?
I get this question pretty frequently and people want to know if the payments they make monthly as part of the lease are applied to the sales price with the program. The simple answer is no, those payments are considered lease payments, otherwise known as rent and they do not apply.
I remind everyone as I have mentioned before that the Lease with a right to purchase program at the end of the day is just a lease. So like any other lease your monthly rent payment is just that... a rent payment. When the time comes that a tenant decides to exercise their right to purchase and decide to purchase the home, no rent payments are applied. Keep in mind however that your security deposit is returned to you however it is still not applied to the sales price.
I hope this helps answer any questions you may have on this subject. If you are interested in a program that does indeed help with saving for the purchase of a home in your monthly payments, be sure to check out the channel & look up my Divvy Homes program. That program does indeed help to contribute part of your monthly payment towards a savings account which you get when you go to purchase the home.
Again I hope this video was of value and your learned a thing or two. If you want more Home Partners of America content be sure to check out my playlist on Youtube or my website with a dedicated page just to the Home Partners program.
Let me first say that if you found my website, Youtube videos and the content valuable to you I would greatly appreciate if you allowed me to provide you with an application link.
This would show Home Partners Of America where the client is being directed from and allow me to assist you. Keep in mind I work in the North Texas area so I could help you myself. If you are in another part of the country you could still use the link and I, along with Home Partners, will refer you to an expert in your area. You would get to work with someone who knows the program in your area and would allow me to get a referral fee as well as help me continue to bring you great content about the program.
With a heart of a teacher I look to educate my clients about the process of buying, selling or renting real estate. I strongly feel an informed and educated consumer will be more confident & make better decisions.
Have questions about this or other topics, do not hesitate to contact me.
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Luis Cuevas, Broker/Realtor®
Serve Realty
552 Mullins Ave Lewisville, Texas 75057
(214) 783-0535
Luis@ServeRealtyTx.com
Check out my website for more helpful tips: https://ServeRealtyTx.com/HomePartners
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