Lease with Right to Purchase program
Hyperion Homes’ Lease with a Right to Purchase program provides responsible households, who cannot obtain a mortgage, a clear and transparent path to home ownership and a way for relocating families to rent a house of their choice. Single Family and Fee simple Townhomes only.
The resident will get approved, and select a home for sale in an approved school district*. Hyperion will buy the home in cash, lease it to the resident, and provide a right to acquire it anytime during the lease period.
*Approved communities determined by state High School rankings, Top 50%.
Good for relocation buyers checking out an area or school but not committed
The resident’s financial obligation is limited to 1 year of rent.
Approved residents can:
Elect to rent for up to 5 years.
May move out after each 1 year lease term without penalty
Purchase the home ANYTIME during tenancy (using any 3rd party lender)
This program enables Buyers to purchase a Home in spite of having Past Issues, such as short sales, foreclosure, bankruptcy (discharged), low FICO score, (under 575 won’t qualify), and judgments.
Some important factors:
Credit history (Open vs satisfied)
Income and employment stability
Debt to income ratio (DTI=45%)
Rent to Income ratio (RTI=35%)
Background and eviction search
$50 application fee