Friday, July 26, 2019 / by AJ Shepard
Have no fear though! With over 6,500 active listings there are many more affordable homes on the market. My brokerage, Uptown Properties LLC, started our Home Ownership Pathway Program (HOPP) because we want to help people become homeowners. Although it can be difficult to find the right home, we want to make sure the process is as easy as possible.
One of the first steps that you will need to take is to partner with a great lender and work on getting pre-qualified. This will help you understand what your buying power is and if you are ready to start your home search right now. After consulting with your lender you may need to work on repairing your credit, increasing your savings for a down payment, or if you need to wait until you have more provable income. We work with a great lender that would be happy to help with getting you on the right track to homeownership. We encourage anyone interested in buying a home to become very familiar with their credit score and their finances.
Please follow this link to read some of the ways to increase your credit score:
We also offer all of our tenants a significant incentive to purchase a home as part of our Home Ownership Pathway Program. If you purchase a home through one of Uptown's brokers we will pay your lease break fee! We understand that it is very difficult to time the home purchase correctly where you are not stuck paying both rent and a mortgage. So we will take that worry away by allowing you to find the right home without focusing on lining up your home purchase with the end of your lease.
Most people start looking for a home a few months before their lease is up. If you happen to find the perfect house you can feel free to put in an offer at any point during your search.
A few months ago we had prospective tenants that expressed an interest in purchasing a home in the near future. They chose to rent from us because they knew about our Home Ownership Pathway Program. About one month after they moved into our rental, I started showing them homes. After about a dozen showings, they felt like they found the perfect home for their family. Their contingent offer was accepted and shortly after they closed on the home of their dreams! They had a one week overlap so they could move everything into their new home and clean up but they were not charged a lease break fee.
If you are not one of our tenants, but interested in our Home Ownership Pathway Program please let us know! We want to talk to you more about how our program can benefit you.
Give me a call if you have any questions about HOPP.
3526 SW Troy St.
Portland, OR 97210
To visit our website, click here.