The Rental Homes for Future Home Buyers program supports families on their path toward homeownership. Families with at least 3, but not more than 6 members are eligible to apply. To qualify, families must: Have 3 to 6 members in their household Have a total household income between 60-80% of Area Median Income (AMI) Be willing to enter into a 5-year contract to live in an HRA house. To help families achieve their goal of buying a home, the tenant will pay rent and escrow. The HRA then saves the family's escrow each month, and places it in a special interest-bearing account. At the conclusion of their time in the HRA home, the saved (escrow) money is used by the family toward a down payment to buy their own home.Have the ability to pay rent and utilities without assistance. Have eligible citizenship or immigration status. Submit to background checks for credit, rental and criminal history. No Pets allowed. Please visit this website for more details about the program and income requirements. You can search " Rental Homes for Future Homebuyers" on google and we should pop up! All the screening criteria are listed on there as well. Family size minimum income max income 3 $70,350.00 $93,800.00 4 $78,150.00 $104,200.00 5 $84,412.00 $112,550.00 6 $90,675.00 $120,900.00 Residents pays electric and gas directly to provider. Owner pays for water, sewer & trash and bills it back to resident.
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