Homeowner in Training Program
We get it! You are ready to be a homeowner, but you do not quite qualify for a traditional mortgage. If you have a good job history and a deposit, our financing and real estate experts will assist you in moving into the home of your choice and becoming a homeowner within 1-3 years.
Our Homeowner in Training program is ideal for you if…
Your credit is less than perfect for a traditional loan
Life happens and sometimes it causes credit scores to decrease. Our Homeowner in Training Program allows time to improve or repair your credit. We match you with a credit repair company to guide you towards qualifying for a traditional loan.
You need to save more money for your down payment
When you lease the home of your choice from us, a portion of your monthly rent will be credited towards your down payment when you close on your home.
You are self-employed
Do you need more time to build your business to show greater net income to qualify for a traditional loan? Our 1-3 years time period provides you the time you need.
You are new to the country
Getting a mortgage can be difficult as an immigrant. We can help with your goal of home ownership.
Homeowner in Training
Our Homeowner In Training program gives you the opportunity to move into your home before you obtain financing or a mortgage while you remove barriers to becoming a homeowner. Whether you have to repair or build your credit, save for a higher down payment, grow your business or pay off debts, our Homeowner In Training program guides you through the process to successful ownership of your home.
You select your home and can move in within 1-2 months
You have the option to buy at the end of the program for a predetermined price
You can make the house your home while you qualify for your mortgage
How it Works
We will assess your unique credit situation
Our program allows you to move into your new home within 1-2 months
If accepted, we customize a program based on your financial and personal needs
We design your monthly rent payments to save for your down payment
We connect you with a credit repair specialist to improve your creditworthiness
You make an initial deposit of 3% - 5% towards the purchase of your new home
A Different Way to Homeownership
“Action is the foundational key to all success” - Pablo Picasso
If you want to know how to qualify for our Homeowner In Training program and learn more about our program, take action!
ACTION STEP #1
Get pre-approved and complete the application
We will let you know if you pre-qualify within 7 days and schedule a meeting with our lending team to discuss purchase strategies.
Minimum requirements for the Homeowner In Training program
Good job history
Deposit of a Non-Refundable Option Consideration
A commitment to the process
ACTION STEP #2
Prepare to find your new home
DenWal Properties & Development Corp. will let you know your pre-approval amount
We will meet with your realtor and mortgage broker to review the Homeowner in Training program
If you have not selected a realtor or mortgage broker, DenWal Properties & Development Corp. will connect you with our Preferred Partners to assist you through the home finding process
ACTION STEP #3
Select your new home
Work with a realtor to find a home that excites you and fits your budget!
Hire a licensed home inspector to identify major and minor issues with the home
DenWal Properties & Development Corp. will review the home purchase agreement to ensure all offer contingencies outlined in the home purchase agreement are met or waived
DenWal Properties & Development Corp. and your realtor will negotiate and finalize the purchase agreement
ACTION STEP #4
Complete legal paperwork to secure your new home
After an acceptable inspection:
• You move into your new home
• Your monthly rent will consist of two payments
First Payment: Covers the mortgage, property taxes, and insurance
Second Payment: This will be your savings for your down payment at closing
ACTION STEP #5
Maintain a good credit rating
DenWal Properties & Development Corp. will connect you with a reputable credit repair specialist
You will work with the credit repair specialist to build your credit
ACTION STEP #6
Be financially Prepared
Our lending team will work with you to:
Set a realistic budget
Plan and save for your home purchase
Keep focused on financial goals
Prevent unnecessary debt
ACTION STEP #7
Complete the homeowner in training program
You will be a homeowner
You will be creditworthy and continue to build your credit
You will own an appreciating investment
You will have the opportunity to build equity
You will have tax advantages
You will have the freedom to personalize your home
You will be living the American dream!!