Home Partners of America ? Rent to Own Homes Program Explained | MELANIE ❤️ TAMPA BAY

Finding a home that’s a lease with an option to buy (rent to own) can be extremely difficult – close to impossible in popular areas. However, leasing while you get to know your new city, repair your credit or save up some money for a larger down payment may be your best option. Let’s talk about a lease-purchase program called Home Partners of America.

While I am not affiliated with this company in any way, I do feel the program offers a valuable option for those who qualify so I want to share some details.
*Criteria subject to change and may vary by state

What is the Home Partners of America Lease Purchase Program?

Say you want to own a home in a nice neighborhood but you just aren’t ready to buy. Maybe you want to be in a good school zone and there are limited rentals available to pick from? Or, if you are working on repairing your credit and you just need a year or two to qualify for a mortgage. Home Partners of America purchases homes that are currently for sale and leases them back to you. So, this opens up a lot more options of homes to rent because now you can look at homes that are for sale.

You get to pick the house, they purchase it, you rent it from them. You can buy it from them or a predetermined price at any time. Now, nothing is that simple but that is the basic premise of the program.


Who qualifies to be a renter with Home Partners of America?
Which properties qualify for the program?
I am qualified and the house I love is qualified – what happens next?
What about the rent price?
What about a security deposit?
Can I bring my pets?
How do I purchase the home?

Breakdown by numbers:

Pros & Cons

The biggest pro to this program is that it gives future home buyers an opportunity to settle in their desired community before they can qualify to purchase a home. Or it gives new residents a way to try out a neighborhood before they commit to buy. The program is transparent and your costs and fees are outlined prior to entering the program. Your only obligation is to rent the home for one year.

If you are a seller, consider using this program as a way to attract more buyers. Home Partners of America will pay a fair price for your home.

The cons mostly revolve around the fees associated with buying. Home Partners is going to roll the closing costs over to you, as well as increase your price 5% a year. If for some reason the home doesn’t appraise for the price that Home Partners has set when you go to buy it, you may need to put more money down or hold off buying it until it does appraise. That is definitely something you want to discuss with your Realtor while you are looking for homes. You are also paying for the make ready repairs, but I don’t necessarily see that as a con as most homeowners would pay for improvements when they move into a new home anyway. Also, if you currently own a home in another state that you are trying to sell, it may be difficult to qualify for the home you want in Florida if your debt-to-income ratio is too high.

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Melanie is a Tampa Bay area Realtor with Smith & Associates. She loves Tampa Bay area area, houses, and helping clients buy and sell real estate.

Email: [email protected]
Call/text me if you are looking to buy / sell a home in the Tampa Bay area! 813.368.6084

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