3-Phase Lease-to-Own Process
Our lease-to-own process is designed to help you build equity while renting, then smoothly transition to full homeownership.
Phase 1: Lease Period
Rent the property while building equity and improving credit
Key Activities:
- Make monthly rent payments
- Build equity in the property
- Improve credit score
- Save for down payment
- Maintain property condition
Phase 2: Equity Building
Accumulate equity through rent payments and property appreciation
Key Activities:
- Track equity accumulation
- Monitor property value
- Plan for ownership transition
- Prepare for traditional financing
- Build savings for closing costs
Phase 3: Transition to Ownership
Convert lease-to-own agreement to traditional mortgage
Key Activities:
- Apply for traditional financing
- Complete mortgage application
- Close on property purchase
- Receive property deed
- Begin full ownership
Why Choose Lease-to-Own?
Our lease-to-own program offers unique advantages that make homeownership accessible to families who may not qualify for traditional financing.
Build Equity While Renting
Accumulate equity through rent payments and property appreciation
96.5% LTV Financing
Maximum financing with only 3.5% down payment required
Flexible Credit Requirements
580 credit score minimum with alternative credit options
ITIN/DACA Eligible
No SSN required - ITIN and DACA recipients welcome
Government Entity Backing
Secure program with government entity backing
Path to Traditional Financing
Position yourself for traditional mortgage financing
Lease-to-Own Requirements
Our flexible requirements make lease-to-own accessible to more families who want to achieve homeownership.
Credit Requirements
- Minimum 580 credit score
- Alternative credit sources accepted
- No recent bankruptcies (within 2 years)
- No outstanding tax liens
Income Requirements
- Stable income for 2+ years
- Sufficient income to cover rent payments
- Multiple income documentation options
- Self-employed income accepted
Identity Requirements
- Valid government-issued photo ID
- ITIN or SSN
- DACA documentation (if applicable)
- Proof of legal residency
Property Requirements
- Primary residence only
- Single-family homes, townhouses, condos
- Property must meet safety standards
- Homeowners insurance required
6-Step Lease-to-Own Process
Our comprehensive process guides you from initial consultation to full homeownership. Each step is designed to be simple and transparent.
Initial Consultation
Discuss your homeownership goals and lease-to-own options
Program Qualification
Complete preliminary qualification assessment
Property Selection
Work with our team to find your ideal property
Lease-to-Own Agreement
Sign lease-to-own agreement and begin lease period
Equity Building Period
Rent while building equity and improving credit
Transition to Ownership
Convert to traditional mortgage and full ownership
Frequently Asked Questions
Common questions about the DreamBuilder lease-to-own process.
How does lease-to-own work?
You rent the property while building equity, then transition to traditional financing when ready for full ownership.
How long is the lease period?
The lease period typically ranges from 12-36 months, depending on your goals and timeline.
Do I build equity during the lease?
Yes, you build equity through rent payments and property appreciation during the lease period.
What happens at the end of the lease?
You can transition to traditional mortgage financing to purchase the property outright.
Can I improve my credit during the lease?
Yes, the lease period is designed to help you improve your credit score for traditional financing.
What if I can't qualify for traditional financing?
Our team works with you throughout the process to ensure you're positioned for successful transition to ownership.