Frequently Asked Questions

General

On average, it takes 45-60 days from application to move-in. 

  1. Households may register on our website and complete the free Pre-Qualification application. If they pass the Pre-Qualification Questionnaire, they are prompted to submit a Full Application. This step includes a credit and background check, uploading income verification documents, and payment of an application fee.
  2. If approved, we will send them their maximum allowable monthly rent. Households may work with a real estate agent of their choice and may begin searching for a home for sale that meets our property criteria.
  3. Once households find a home they love, their agent submits it to our team for review. If the home passes our review, we will submit a competitive cash offer to the seller. If the seller accepts, the households will sign a 1-year lease and a Right to Purchase Agreement. All rent amounts and Right to Purchase prices are predetermined for up to 5 years. If the seller rejects our offer, the household and agent will continue their home search.
  4. After closing on the home, our exclusive property management company, Pathlight Property Management, prepares it for move-in and provides support to residents throughout their lease. Residents have the option to purchase the home from us anytime during their lease. If they do not renew the lease and do not elect to purchase the home, they may move-out with no financial penalty.

We evaluate rent-to-income and debt-to-income ratios, FICO® scores, housing, employment, and criminal history, and other considerations:

  • Annual household income of at least $40,000
  • Proof of income
  • No open chapter 7 bankruptcy
  • No disqualifying criminal history
  • Minimum of 45 days from date of application to move-in

The application fee is $75 in a majority of our approved communities. Rates vary by metro.

Click here for a list of application fees by state. 

We have a one-time nonrefundable application fee that varies by state. After a seller accepts our cash offer, the household will pay a Security Deposit. During the lease term, residents can expect to pay the following conveniently online: rent, utilities, a monthly air filter replacement fee, and if applicable, a one-time pet fee and monthly pet rent, and pool maintenance.

Click here to view specific fees. 

We allow up to 3 pets (cats or dogs) weighing less than 180 pounds in total combined weight. We allow all dog breeds, however, certain dog breeds may be restricted by local regulations and Homeowner’s Association rules. Further, livestock/farm animal pets such as pigs, horses, chickens, and goats, aquariums over 20 gallons, and exotic, venomous, and verminous pets, are not allowed.

Please note that although service and assistance animals are excluded from our pet policy requirements, supporting documentation is required to qualify as such. Click here for applicable pet costs.

We own the home until the household exercises their Right to Purchase. Our exclusive property management company, Pathlight, supports residents throughout their lease. They handle rent and utility payments, maintenance, and everything in between.

One of the benefits of our Program is that applicants must work with a licensed real estate agent to find a home. This way, applicants have the expertise and advice of a professional. Some of us have even taken part in this program for personal options. 

Applications
Before Applying/Eligibility

The first step is to answer a few basic needs questions and them responded to the email invitation to complete the Pre-Qualification Questionnaire. This step is free and asks six simple questions

Each household member contributing to rent must present proof of income. Click here for a full list of acceptable documents.

Our minimum FICO requirement is 620. 

We calculate a credit score as the average credit score of all household members who will contribute to rent, weighted by the amount each household member’s income makes of the total income of the household. 

To document self-employment, we require the submission of the most recently filed tax return and last two months of personal or corporate bank statements. No joint bank accounts may be used unless all joint owners apply as leaseholders.

For a complete list of accepted income verification documents, click here. 

Yes, a copy of the ITIN is required for the application process.

The maximum allowable DTI is 50% of monthly income less monthly debt. The maximum allowable RTI is 40% of monthly income.

Applications noting Chapter 13 bankruptcy will be accepted with payment plan documentation. Monthly payments outlined in the plan will be added to the debt-to-income calculation.

Open Chapter 7 bankruptcy will result in an automatic denial of the application.

Gross income is considered when reviewing applications.

Yes, prior late payments may be considered when reviewing applications.

All part-time household members 18 years of age and older (ex. college students) must be included on the application regardless of whether they will be contributing to rent. 

Due to Housing Authority requirements, we cannot accept Section 8 Housing Choice Vouchers with our Program. However, we do work with a few property management companies that accept applicants with Section 8 Housing Choice Vouchers.

Payment

Applicants can pay with Visa, Mastercard, and Discover. We do not accept American Express at this time.

The application portal is only able to process one payment at a time. Should there be multiple payments pending on the credit card account that have not yet posted, these payments will expire and not be charged to your account.

After Application Submission

Our team works diligently to quickly assess all documents and application questions. Typically, applicants can anticipate the following:

If required income verification documentation is submitted for all household members contributing to rent, it will take our team 24-48 hours to process the application.

If an application is missing required income verification documentation, the processing time will be delayed up to 7 days.

An application remains active for 180 days from when the application fee is paid.

If an applicant needs to extend their application period, please reach out to us for assistance.

To request a copy of the report, please reach out to us for the phone number.

The applicant and their agent are notified via email of the approved maximum monthly rental amount.

Denials

We take several factors into consideration when considering the background and credit history of all household members including the household’s income, rent-to-income and debt-to-income ratios, employment history, rental and housing history, criminal history, and TransUnion Classic 08 FICO credit score. 

Click here to view possible grounds for denial.

If one individual has any disqualifiers on their credit or background, this will affect the household’s application. Depending on the disqualifier, we will either not be able to include that household member’s income, or we may deny the entire household.

Application fees are non-refundable as it covers various processing costs.