Learn More About The Road Home

HomeLPC offers realtors and sales agents a simple way to immediately close a sale and put their clients on The Road to realize their dream of sustainable Homeownership

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Step 1:

Your client finds a home they want to own.

Any home listed on the MLS or offered in a private sale can qualify.

Clients can be pre-approved and obtain a commitment before selecting a home.

Step 2:

HomeLPC buys the home in an all-cash transaction and all fees and commissions are paid. With the client’s input, HomeLPC makes any necessary repairs and improvements.

Step 3:

Your client acquires an option to buy the home any time during the term and after the first year of the lease. The option payment is as little as 5% of the cost of the home and improvements. The option may be assigned to another party by the client.

Step 4:

Your client leases the home from HomeLPC for 36 months at a fixed rent, which will never increase. In some cases, the lease can be extended. The lease requires a security and pet deposit and the first months rent to be paid at closing.

Step 5:

Your client exercises the option to buy or flip the home for a price below its appreciated value, but not less than the original cost of the home and improvements. At closing the client receives a credit for:

–   50% of the appreciation in the value of the home, determined by appraisal

– 100% of the option payment

– 100% of all security deposits

Application Process

The Road Home begins by a client providing the pre-qualification information on our site. They will hear back from HomeLPC in 48 hours.

Your client should identify you as their REALTOR and provide your name, email address and phone number. You should “accept” the email invitation you receive to HomeLPC’s Client Space.

Qualified candidates will be asked to completed an Application and if available identify the home. Monitor your client’s status and process through HomeLPC Client Space

Application Form

Lease Option Details

– 36 month fixed rate lease
– Option to purchase anytime after year 1
– Application/processing fees of $650
– Minimum option payment of 5%
– One month security and pet deposits, if applicable
– Client obtains renters insurance policy

HomeLPC pays:
Up to 10% in capital improvements at time of purchase
Property taxes, insurance, and HOA fees during lease

Requirements

– One FICO Score of 580+
– Maximum debt to income of 50%
– Residual income can be used as compensating factor
– Bank statement income approval is permitted

– 0x30x12 Rental history
– At least two months in reserves
– Sourcing of option funds required
– Flexible employment guidelines
– Allow foreclosure, bankruptcy and short sales with good story, but no repeat offenders

Property Requirements
– Purchase price of $200,000 or more
– Price consistent with median home prices in community
– Price supported by independent appraisal
– Built after 1990
– No more than 2 acres of land
– Must satisfy Agency property guidelines
– Approved inspection or remediation
– No foundation work required
– Single Family, Townhouse or Condominium
– No Sale-Leaseback
  

Ideal Candidates

Those looking for a smart alternative to renting!

– Self-employed
– Relocating
– First time homebuyers lacking a down payment
– Credit problems from divorce, medical bills, temporary unemployment, judgments
– Those who have experienced a short sale, foreclosure or bankruptcy
– Recently discharged from military
– Recent college graduates
– Others who need a second chance
 

All Inquiries

info@homelpc.com
888.988.HLPC
www.homelpc.com