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Lease Calculator


The Fair Path Homes Lease with Option to Purchase program is simply a temporary gap plan between now and when you become eligible for a mortgage. It is not a loan and we do not provide hard money.  We purchase Single Family Residences to be occupied by our Lessee only.  The home must be in a condition that is move-in ready.  We do not purchase mobile/manufactured homes, land, or agricultural properties.

We can assist clients facing such issues as:

  • Self Employed / Business Owners showing little Taxable Income

  • Temporary Credit Issues – Medical, Job Loss, etc

  • Career Change – Lack of time in a new career

  • ITIN and Social Security Number issues – Waiting on documentation

  • No Credit or Unestablished Credit – Recently joined the workforce

  • Divorcees – Establish individual credit, separate credit, etc.

  • Bankruptcies

What are the steps to the program?

  1. You submit your online application, furnish all supporting documents requested by Fair Path Homes, and provide your Option Consideration Deposit.  Once received and reviewed, we approve you for the program. You will pay for the upfront appraisal and inspection and we handle the rest.

  2. We present you with a 2 Year Lease with a Guaranteed Option to Purchase the home at an agreed-upon price.  There are no surprises when you are able to obtain your own mortgage.

  3. We work with your real estate professional to submit, negotiate, and finalize a contract to purchase the home in our name.  We set the closing date for you to move into the home. 

  4. You will meet with a Fair Path Homes rep and your lender of choice to set forth a plan of action for you to become mortgage eligible as soon as possible.  Our primary goal is for you to obtain mortgage independence.

  5. We close on the house and you and your family move in and establish residency. 


What is the required deposit amount and when is it due?

At the time of application, you deposit 7% of the Fair Path Homes Program Purchase price with Fair Path Homes as Option Consideration Deposit and a 1.5% non-refundable processing fee.  You then work with our team and become mortgage approved. When you are ready to close, your deposit will be credited at closing to be applied towards your purchase costs.

How long does it take to get approval?

Once the application is submitted and all requested documentation is received, you will have an approval in 24 – 48 hours.  We typically close within 3 – 4 weeks of the date of the accepted contract.

What does the monthly payment include?

Your lease payment is all inclusive.  Fair Path Homes pays all property taxes & insurance while they own the property.  The lease amount is established for the first 12 months.  There will be a slight adjustment in year two for any property tax adjustments.  No portion of your monthly payment will be paid toward your purchase price of the home.

Can I use my current Realtor or Mortgage Professional?

Certainly.  Our program is designed around partnering with these professionals to achieve the end goal of homeownership.  If you do not currently have one, we have a list of professional referrals for you to choose from.


What is the term of the Lease program?

Our 2 year Lease with Option to Purchase program allows you to purchase the home at any point within the two years when you become mortgage eligible.  Your monthly payment will be similar to a 15-year amortization schedule including taxes, insurance, and PMI that would be required if you were purchasing the home in a typical loan scenario. 

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