How It Works
Home For Good's Equity First program offers participants the opportunity to live in the home of their choice now and begin building equity they can use as their down payment - and to pay off lingering consumer debt or student loans
2.
Find A Home
MOVE IN RIGHT AWAY
3.
Lease Your Home
24 ON TIME PAYMENTS
4.
Own Your Home
IT'S THAT SIMPLE
Home For Good initially purchases the participant's desired home allowing the participant to move in right away. The participant agrees to a three year lease with fixed monthly payments and a right to purchase. Each participant accepted into the program works through an individualized home buyer action plan designed to enable the participant to qualify for the mortgage at the earliest possible opportunity. Home for Good utilizes Federal Housing Administration (FHA) 30 year mortgages with fixed interest rates that can be transferred to qualifying participants when they purchase.
The participant can purchase the home at any time after making 24 monthly payments on time and qualifying for permanent financing. A minimum sales price is charged based on the original home cost, plus an annual administrative fee of 1% of the total home cost per year. This fixed price eliminates the risk that appreciation rates will keep homes from being affordable. Participants may also qualify for down payment assistance through Home For Good or one of its community partners. Participants work with Home for Good's partnered HUD approved counselors and lenders to bridge into homeownership.
This unique program locks in affordability enabling participants to 'rent smarter' earning home equity over the lease term they can use to purchase.
AVAILABLE MARKETS: CALIFORNIA, NEVADA, ARIZONA, TEXAS, COLORADO
Home For Good participants lock in a purchase price today on a home that may be out of reach in just two years from now without Equity First.
Get the gift of equity from Home For Good by using Equity First for your next home.