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Program offered by HYCA Development Services, LLC
A licensed real estate
broker in Texas.

 

 
 
How Does Lease-To-Own Work?

The new Lease-To-Own program from Community Empower is an opportunity for you to achieve the dream of homeownership with no downpayment. This program allows you to lease the new home of your choice for up to 18 months (some states vary). During the lease period, you will work with Community Empower to improve your credit so you will be qualified for a mortgage loan at the end of the lease. After you qualify, you'll take-over the mortgage payments and become the homeowner!

Step One: Apply Online. In order to get started, you must apply to find out if you qualify for the program. After submitting your application, a counselor will contact you to inform you of your qualification status and next steps. If you are pre-qualified for the program, your counselor will ask you to provide additional documentation.

Your counselor will discuss the benefit of a 4-month enrollment in our ScoreManager credit program regardless of whether you are immediately qualified for the program. ScoreManager will provide a comprehensive monthly strategy to help you work toward your ultimate goal of homeownership. ScoreManager will help you qualify for the program. It will show you how to increase your score and help you correct any credit issues that might keep you from qualifying. ScoreManager is required for all tenants in our program.

Step Two: Choose A Home. If you are approved for the program, your participating real estate agent will work with you to find the perfect home. You may have the opportunity to choose from many homes tin your area.

Step Three: Sign Your Lease And Move-In. After you sign your lease-purchase agreement, pay your Program Fee and first month's rent, you'll get the keys to your new home! Move-in and start enjoying your new living space. During the 18-month lease period, you will be enrolled in our ScoreManager - which will help you to improve your credit in preparation to assume the loan at the end of the lease.

Step Four: Become The Homeowner. By the end of the 18-month lease period, you will have worked diligently to achieve the loan requirements. If you make all your lease payments on time, and meet the assumption guidelines, you'll be eligible for a mortgage loan and become the homeowner. In fact, you may be able to qualify for your loan before the end of the lease, if you improve your credit and meet the guidelines. At this point, you will no longer make a lease payment, instead you will pay the mortgage payments directly. You will have all the rights and responsibilities of homeownership!


Or Call 972-532-0005 • 800-362-6101