Question 1

Who is eligible to apply for the Homeowner in Training rent-to-own program?

Accepted Answer

We invite you to complete the free pre-qualification questionnaire. It takes less than 10 minutes to complete. If you prequalify for the program, we will contact you within 7 days to complete a full application.

Question 2

How much deposit is required to qualify for the Homeowner in Training rent-to-own program?

Accepted Answer

A non-refundable option consideration deposit in the amount  of 3% - 4% of the predetermined purchase price is required.

Question 3

I have a bankruptcy; will I be eligible for the Homeowner in Training rent-to-own program?

Accepted Answer

Applicants with a Chapter 13 bankruptcy may apply if you have a documented payment plan. Open Chapter 7 bankruptcies are not eligible for the Homeowner in Training rent-to-own program.

Question 4

Will the pre-approval process affect my credit score?

Accepted Answer

You credit score will not be affected during the pre-approval process.

Question 5

Who is responsible for the repairs and maintenance of the property?

Accepted Answer

You, the tenant buyer will be responsible for the repairs and maintenance of the property. All repairs costing more than $100 must be approved by DenWal Properties & Development Corp.

Question 6

How do I find a property?

Accepted Answer

Tenant Buyers will work with a licensed real estate agent of their choosing or with an agent in our Preferred Partners program to select a property. The price range for the home will be given to you and your real estate agent when you are enrolled in the Homeowner in Training rent-to-own program.

Question 7

Do you have guidelines for occupancy?

Accepted Answer

In alignment with the HUD Federal Occupancy Standards, two (2) persons are allowed per bedroom, plus one. Local zoning laws will take precedence if they differ from the HUD Federal Occupancy Standards.

Question 8

How is the purchase price determined?

Accepted Answer

The purchase price is based on the fair market value, annual appreciation, and length of the lease.

Question 9

Can I select new construction?

Accepted Answer

Yes, new construction can qualify for our program. The new construction must be 100% completed prior to submittal and located in subdivisions which are more than 50% completed.

Question 10

What is included in my monthly rent?

Accepted Answer

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

Question 11

What happens if I do not qualify to purchase the home at the end of the option to purchase term?

Accepted Answer

If you have made all your rental payments on time and cannot qualify for a traditional loan, we will extend the Purchase Option Contract for up to one year with a new predetermined purchase price.

Question 12

What happens to the non-refundable option consideration deposit after exercising my Purchase Option Contract?

Accepted Answer

When all the terms of the agreement are met, the non-refundable option consideration deposit will be credited to your down payment for the purchase of your home.

Question 13

Where does DenWal Properties & Development Corp. operate?

Accepted Answer

Alabama
Georgia
North Carolina

FAQs

Our First Market

Contact

Sign Up

Quick Links