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.
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A non-refundable option consideration deposit in the amount of 3% - 4% of the predetermined purchase price is required.
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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.
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You credit score will not be affected during the pre-approval process.
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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.
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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.
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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.
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The purchase price is based on the fair market value, annual appreciation, and length of the lease.
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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.
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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
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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.
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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.
