Start by providing your gross monthly household income. This should be your income before any taxes or deductions are subtracted. Make sure to include all income sources from all family members who will be living in the home. If your income fluctuates, please use the average monthly income over the past 3 months. Alternatively, you can also divide your gross annual income by 12 months.
Next, you'll need to input your monthly debt obligations. This includes any existing financial commitments, such as car loans, student loans, credit card payments, and any other recurring debt. Please do not include rent or housing expenses. If you pay off your credit card every month and do not have any outstanding balance, there is no need to include your credit card payments. Likewise, there is no need to include groceries or other living expenditures.
Please provide the amount of savings you are comfortable putting towards the initial down payment to start our rent-to-own program. This can include any cash, investments, or other assets that could be readily converted into cash that you’re willing to contribute as your potential down payment.