Frequently Asked Questions
At HomeWays, we believe in transparency, flexibility, and setting you up for success. Here are some of the most common questions we receive. If you need more details, our team is here to help!
What do I need to qualify?
We’ve designed our program to be accessible and flexible, making it easier for you to move into a home. To qualify, we require:
– Credit score of 500+
– No evictions in the past three years
– No bankruptcy in the last 12 months
– Consistent bill payments for the past three months
– Income at least 3.5 times the monthly payment
When can I schedule a property tour?
Once you complete our Prequalification Form, you can schedule a tour immediately! Depending on availability, you might even be touring a home the same day.
Does HomeWays have more properties?
Yes! We’re continuously adding homes to our inventory. If you don’t see something that fits your needs right away, let your Relationship Manager know what you’re looking for. We’ll notify you as soon as a home that matches your criteria becomes available!
How soon can I move in?
We work at your pace, and in some cases, you could be settling into your new home in as little as two weeks.
Where does my down payment go?
100% of your down payment is credited toward the purchase price of your home. Unlike other programs, we don’t pocket a portion of it—every dollar goes toward helping you move forward.
What if I don’t have enough saved for my down payment?
No worries! We understand that saving takes time, and we’re here to support you along the way.
We’ll stay in touch and offer guidance while you work toward your savings goal. When you’re ready, we’ll be right here to help you take the next step.
What is the program enrollment fee for?
The program enrollment fee covers everything needed to get you set up for success, including:
Processing your application
Verifying your documents
Assigning you a dedicated Relationship Manager who will guide you every step of the way
How is HomeWays different from other rent-to-own programs?
We know rent-to-own programs have a bad reputation—but HomeWays isn’t like the others.
| Feature | HomeWays | Traditional Rent-to-Own |
|---|---|---|
| Fixed Appreciation Rate | 4.1% for 3 years | Up to 9% |
| Success Rate | 50%+ and growing | Less than 5% |
| Flexibility | ✅ No forced buyouts or penalties | ❌ Strict deadlines, lose your investment if you don’t qualify |
| Transparency | ✅ Clear terms, no hidden fees | ❌ Unclear costs, hidden restrictions |
📢 “Unlike predatory programs, HomeWays is built for your success—not your setbacks.”
What if I need to move before I complete the program?
We get it—life happens! If you need to relocate before completing the program, we’ll work with you to explore options, including selling your interest in the property.
What happens if I can’t qualify for a mortgage in three years?
No stress. Unlike other programs that force you out if you don’t qualify by a deadline, HomeWays gives you options:
You can stay in your home while continuing to build equity.
We’ll work with you on alternative financing solutions.
We’re here to help you succeed—not push you out.
Does HomeWays accept Section 8 vouchers?
At this time, we do not accept Section 8 vouchers.