Our goal at Keller Williams Realty is for your family to succeed with this program. This is why we have determined the following criteria must be met in order to qualify for the Lease with a Right to Purchase program. These minimum criteria will help us determine your eligibility prior to fully applying to the application. If approved, you will receive an approval letter, similar to a pre-approval with a mortgage lender, then your home shopping begins.
• Minimum household income of $50,000
• Employment (6+ months OR Offer Letter)
• 550+ credit score
• No prior evictions/No felony convictions
• No outstanding apartment collections
• No new collections in the last 6 months (exception: medical)
• Cannot be in default under any lease agreement
• Chapter 7 Bankruptcies must be discharged (if applicable)
• Chapter 13 Bankruptcies must be on a payment plan with payments made on time (if applicable)
• Debt to income ratio (including requested rent) below 45%
• Up to 3 Pet(s) allowed – No farm animals, Doberman, Pitbull, Rottweiler or Mastiff.
• Must have approximately 6 weeks available to complete the process from application to move in.
Family Types We Help
• Relocation (with offer letter)
• Commission based income individuals
• Credit worthy but unable to obtain a mortgage
• Bankruptcy (chapter 7 & 13)
• Short Sales (current or past)
• Foreclosure (current or past)
• Saving for a down payment
• Renters unsure if they want to purchase