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

 

Fees:

$50 application fee

 

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