Begin the Right to Purchase Process

Start the Process

Thinking about purchasing your home? That’s great! Home Partners is committed to making homeownership a reality for more people. Check your lease agreement to be sure you have a Right to Purchase Agreement, then, log in to the My Pathlight app or Resident Portal to begin the process.

  • Only leaseholders that have a Right to Purchase Agreement in addition to their lease agreement are eligible to purchase the home.

  • You can elect to exercise your right to purchase at any point during your lease term! You do not need to wait until the end of your lease term to purchase.

  • Your purchase price is tied to your lease dates. This means, the first date of your new lease term is the first date of your new purchase price. In order to purchase the home at the current year’s pricing, we must close by or before your lease term end date.

  • We need at least 30 days’ notice in order to close on the home. This means we will need to receive the Exercise Notice no less than 30 days before the day you wish to close. If we receive the Exercise Notice with fewer than 30 days’ notice from your lease term end date, the purchase contract will be drafted using the next year’s pricing.

  • Home Partners is not a mortgage company and does not provide financing. It is the responsibility of the resident to choose a lender and secure financing. Not sure where to start? You may want to check out this website for potential options: https://www.homepartners.com/how-it-works/resident-resources.

I would like to purchase and I have a Right to Purchase Agreement as part of my lease agreement

Purchase Help Center

Frequently Asked Questions

The Right to Purchase (RTP) Agreement does not provide for negotiation. If the home appraises for less than the purchase price, we can terminate the contract and return your Earnest Money provided we receive a copy of the appraisal. If it appraises for more, then you receive a great deal!

Unless otherwise expressly provided in your RTP Agreement and associated materials, we will pay for Seller closing costs. Buyer closing costs will be the responsibility of the buyer.

You must close before the lease end date to receive the current year pricing. If your Exercise Notice is not delivered to Landlord at least 30 calendar days prior to the last day of the lease term or you do not close before the lease end date, pricing may reflect the subsequent year’s RTP price.

Credit for any outstanding deposits made in conjunction with the lease are provided to you at closing as requested by you and permitted by your lender.

We are not a mortgage company and we will not provide or arrange a mortgage loan for you. We cannot guarantee that you will be able to obtain a mortgage loan. If you are unsure where to start, click here.

The terms of your lease remain in effect until closing. If it does not close, the terms of the lease remain unaffected.

Continue your monthly rent payments. A credit for any rent overage will be provided to you at closing along with any outstanding deposits you made in conjunction with the lease as requested by you and permitted by your lender.

Earnest Money is a good faith deposit demonstrating the commitment of the buyer to complete the purchase of the property. This deposit helps cover costs in the event the purchase is terminated by the buyer.

No. The Security Deposit is made in conjunction with the Residential Lease Agreement and cannot be released until the lease is terminated. As lease terms remain in effect during the RTP process, the lease is not terminated until closing. Earnest Money is required prior to lease termination, so Security Deposit funds are unavailable for use.

Instructions on where to deposit the Earnest Money will be provided along with the purchase contract.

It is up to you whether you want to consult with an agent on the process, but no real estate agent should attempt to act as an intermediary in the transaction. We do not pay any commissions to agents on this transaction.

Home Partners does not require the use of an attorney. Of course, you are welcome to hire/consult an attorney if you wish.

Inform Pathlight of your intent to move at least 60 days prior to your lease end date, or target close date, whichever is first. If the purchase does not close and you move out prior to your lease end date, you may be responsible for rent payments through the lease end date or an early termination fee. Contact Pathlight for details.

Fair Housing Statement

Home Partners' Lease Purchase and Choice Lease programs are offered and administered by Home Partners Holdings LLC. Resident and property must meet eligibility criteria, which are subject to change. Resident must qualify for a mortgage from a third-party lender or pay the purchase price in cash to exercise the right to purchase a home. Home Partners is not a mortgage company, does not provide financing for a resident to purchase a home, and cannot guarantee that a resident will be able to obtain a mortgage loan. ©2024 Home Partners Holdings LLC. All rights reserved. HOME PARTNERS, HOME PARTNERS OF AMERICA, CHOICE LEASE, the Home Partners of America logo and A NEW PATH TO HOMEOWNERSHIP are Reg. U.S. Pat. & Tm. Off. and owned by Home Partners of America LLC.

Resale Process

Standard Residential Lease

Prepare

The household works with a lender to get pre-approval and notifies HPA of their intent to purchase. HPA provides next steps and the Exercise Notice. The household reviews the materials, and returns the completed Exercise Notice to HPA.

Standard Residential Lease

Contract

Within three business days, the household receives the closing agent’s information and contract. The household will provide the $1,000 Earnest Money Deposit to the closing agent and receives a copy of the executed contract.

Standard Residential Lease

Appraisal

The lender orders an appraisal and the household sets a time with the appraiser. Once the appraisal report is received, underwriting begins between the household and their lender.

Standard Residential Lease

Settlement

The household will receive the Settlement Statement, which is approved by the lender and HPA, meaning they can close. The household brings the amount due in certified funds or wire funds to the closing agent.

Standard Residential Lease

Closing

The household attends the closing and signs several forms. They will receive funds from any deposits, prepaid rent, and ledger credits that were not allowed on the Settlement Statement (if any), typically within 10 business days.

Standard Residential Lease

THE HOUSEHOLD IS NOW THE HOME OWNER!

  • Appraisal: A third party opinion of the value of the home.
  • Closing: The appointment where the household signs all final documents for the sale.
  • Earnest Money Deposit: Good faith deposit that the household intends to purchase.
  • Exercise Notice: Official notice that a household is exercising their Right to Purchase.
  • Pre-approval: Preliminary review and approval of the households finances and type of loan application.
  • Settlement Statement: Credits for outstanding deposits, prepaid rent, or collections on utility balances and/or ledger deficit and will show how much cash the household must bring to close.
  • Underwriting Process: Final review of a loan application. The lender may ask for additional information.
Fair Housing Statement

Home Partners' Lease Purchase and Choice Lease programs are offered and administered by Home Partners Holdings LLC. Resident and property must meet eligibility criteria, which are subject to change. Resident must qualify for a mortgage from a third-party lender or pay the purchase price in cash to exercise the right to purchase a home. Home Partners is not a mortgage company, does not provide financing for a resident to purchase a home, and cannot guarantee that a resident will be able to obtain a mortgage loan. ©2024 Home Partners Holdings LLC. All rights reserved. HOME PARTNERS, HOME PARTNERS OF AMERICA, CHOICE LEASE, the Home Partners of America logo and A NEW PATH TO HOMEOWNERSHIP are Reg. U.S. Pat. & Tm. Off. and owned by Home Partners of America LLC.