NOT QUITE READY TO BUY? OUR RENT-TO-OWN PROGRAMS MAY BE PERFECT FOR YOU.
Our rent-to-own programs offer a flexible path to homeownership, catering to those with bad credit or relocating from out of state. While our ultimate goal is to assist families in achieving homeownership, we also recognize the importance of finding a place to call home, even if it's just for now. We've successfully guided numerous families through our rent-to-own programs, ultimately helping them transition to homeownership when the time was right. If you're seeking a place to call home, whether for a short-term rental or a stepping stone to homeownership, our rent-to-own programs are an excellent option.
Optimize your home search with the guidance of our licensed realtors and access the largest selection of rent-to-own homes in the area. Unlike traditional rentals, our rent-to-own program offers a unique advantage - no competition with other renters on applications, ensuring you have a wider range of homes to choose from. Secure your future home now and enjoy the flexibility of purchasing it at a predetermined price when you're ready. We believe in transparency, so all criteria and costs are clearly explained before you sign the lease. Plus, our homes are cat and dog friendly, welcoming your furry family members.
Qualifications for each program vary including credit and income requirements, security deposits, and/or down payment. Find out what program works best for you.
You agree to work with the preferred Mortgage Lender for the 3 years of the program.
Checking in and getting advice of any large purchases that could jeopardize the purchase of your home.
Checking credit every 6 months. (Soft pull that will not affect your credit)
Your monthly payment of the Lease option will be equal to or slightly greater than your mortgage payment at the end of the 2 or 3-year program when you close on your home.
Your 5% deposit will be credited to you at the closing of your home.
If you do not close on your home this will be non-refundable.
To get started –
Fill out a pre-qualification application.
Background check Authorization
Proof of funds for deposit.
Meet with our preferred lender.
Meet with one of our preferred Realtors – (shop for your new home)
Once the application is approved and 5% funds have been deposited and cleared, the Tenant/buyer will start looking for their home with the Realtor. The home cannot be over the amount the lender has specified.
The Realtor will let Faith Real Estate Solutions (FRES) know once a home has been found. FRES will do final approval and put a contract on the home.
Tenant/Buyer will hire their own independent home inspector not affiliated with FRES.
FRES will also do their own inspections.
Once everything is a go with all inspections. The transition of client will take place.
FRES becomes the Realtors client and the Tenant/Buyer becomes the client of FRES.
Once a closing date for the house is set the lease and option to purchase will be executed and a move-in date will be set for the Tenant/Buyer.
• Must have a combined minimum credit of 620 (weighted on income earnings) and combined, minimum income of $40,000.
• No breed restrictions with maximum pets being three per household.
• Will purchase in Colorado Springs up to Denver and all areas in between.
• Year to year lease for up to five years. You do have the right to purchase at any point - however - there are no penalties if you decide not to.
• Once you break the lease you will receive the security deposit back contingent on the condition of the home.
• Time frame takes roughly 45 days after finding the home you want to move forward with.
• No minimum credit score - as long as your credit is fixable within two years
• Crescent will look at your most recent months of income and can accept bank statements as verifiable income
• No felonies or evictions
• No open bankruptcies
• 6% down payment required
• Crescent will look at your most recent months of income and can accept bank statements as verifiable income. Our program gives you time to claim on your taxes and continue to have your business flourish without having to wait to get in a home.
• As rentals rates soar across the nation, many landlords continue to increase rents each year or even decide to sell homes and force renters to move out. With our program you lock in a fair rental rate for 2 years, no increases whatsoever. You also have the sole option to purchase for that time period.
• Foreclosure Solution options are available with the program!
• Free application and a soft credit pull to determine your eligibility! Must have a 550 minimum credit score and income of $65,000. Takes 3 minutes for approval.
• 25% of monthly rent applies towards down payment.
• Will purchase in Pueblo, Pueblo West, Colorado Springs, Denver and all areas in between.
• No breed restrictions and no max number of pets.
• Base income on 3 months of verifiable income. (Great option for self employed)
• No evictions or bankruptcies within the past year. Felonies are case by case.
• Deposit is the first month’s rent and 1%-2% of the purchase price as the down payment depending on credit.
• Year to year lease, can break at any time but will lose down payment if home is not purchased.
• Will purchase homes up to $675,000 - there are exceptions to increase this price based on credit.
• Allowed to make any cosmetic changes to the home while renting.
• Can be present for the home inspection and have a say on what repairs and credits are being requested from the sellers.
Pink Realty, a leader in the rent-to-own housing market, is celebrated for its unparalleled success in Colorado, ranking as the #1 team with a formidable presence in the rent-to-own sector. Spearheaded by CEO Monica Breckenridge, recognized nationally as the #1 agent in Colorado and #4 in the U.S., Pink Realty boasts over 100 skilled agents, each expert in navigating the complexities of rent-to-own transactions. Since its establishment in 2009, the firm has been at the forefront of offering flexible homeownership options, merging extensive market knowledge with exceptional service. Monica's dedication to the rent-to-own market has not only solidified her reputation but also positioned Pink Realty as the go-to resource for those seeking rent-to-own homes, ensuring clients find their ideal home with terms that suit their needs.