Do I need to put money down on a home?

Usually, yes. Typically, our home purchase programs require at least $4,500 down. Keep in mind, more money down equals more buying power, lower payments and eligibility for our Design&Buy and Find&Buy programs. See How it Works.

I have a bad credit history (e.g. bankruptcy, poor credit score). How can I purchase a home?

At House2Home, we understand that life events, such as divorce, medical issues and even self-employment, can damage credit, making it difficult for people to purchase homes in the traditional way. When a bank or mortgage loan company says no to your loan, we may be able to say yes. The beauty of Lease2Own and Contract2Own is that you can rebuild your credit while you enjoy the benefits of home ownership. Think of it as a stepping stone toward your dream of owning your very own home.

How do I become qualified with House2Home?

If you have an income and some money set aside to put down on a home, you have a good start. We qualify people based on income, not credit, and on their potential, not their current circumstances. Situations vary, so to specify exactly how much is needed does not reflect the flexible, understanding approach we use when evaluating each application. We believe in placing buyers in a housing scenario that is comfortable and easy, not overwhelming and stressful. To see if you qualify, Apply Now.

How does Lease2Own differ from rent-to-own?

Our Lease2Own program is generally more structured than a rent to own agreement. This is for everyone’s benefit — yours and ours. A Lease2Own arrangement includes a Lease and a secondary contract called the Option Contract. A minimum 2-year lease as well as an Option payment and first month’s payment are due upon move in. Lease2Own is a great way to rebuild your credit. It puts you in charge of your home, including repairs and upkeep, though other improvements must be approved by House2Home first. See How it Works for more details.

How does Contract2Own differ from Lease2Own?

Our Contract2Own program provides an arrangement that is closer to a traditional mortgage loan than a lease to own agreement. Payments are based on four components: purchase price, money down, interest rate and monthly taxes. Buyer is responsible for taxes and homeowners’ insurance. Typically, contracts are 2 to 5 years but they can be extended as needed. The buyer takes on full responsibility for the home upkeep, repairs and improvements. See How it Works to compare.

Can you acquire a specific home that I like?

Yes, but this depends on two things: the price of the specific home and the amount of money you plan to put down. Generally, acquiring specific homes not owned by House2Home requires 15 % to 20% down. This is due to the commercial lending restrictions we must follow. The exception to this rule is if the home is a fixer-upper, foreclosure or short sale; in these cases, we have more purchasing flexibility. Once you become an approved buyer through one of our programs, House2Home can submit an offer on the home you choose. Contact us for details.

What is the difference between the Find&Buy program and the Design&Buy program?

For those buyers looking for remodeled, move-in ready homes with at least 10% down, the Find&Buy program is perfect. Here, we search for both Broker Listed homes as well as For Sale By Owners. The possession date can be 45 days or less.

For buyers looking to move into a home customized around their needs and budget, we can connect them with an existing House2Home property. Buyers brainstorm with a House2Home designer to help create a design plan for the home. This program requires at least $9,000 down. The more money down, the more customization we can offer. Bathrooms, kitchens, flooring, exterior paint/siding, structural — you name it!

How long does the buying process take using your programs?

The time frame of the buying process depends on what you, the buyer, are looking for. For the fastest turnaround time, the buyer should consider selecting from H2H’s current inventory, if available. These homes have usually gone through an extensive remodel process and are move-in ready (3 -7 days).

Next, buyers with at least 15-20% have the ability to purchase a home for sale on the open market which includes both homes listed by a local brokerage company or homes For Sale By Owner (21 – 45 days).

Finally, buyers interested in customizing a home around their desires can pick from our existing but unfinished H2H properties. Depending on the current condition of the home chosen and the extent of design and customization the buyer qualifies for, these homes can be ready in 1-3 months (30-90 days).

Can you help me buy a house outside of Cedar Rapids?

Most definitely! We have helped many clients buy homes in neighboring areas such as Anamosa, Marion, and Amana. At this point, due to the restrictive schedules and workload of our design team, homes that require extensive repairs, redesign, or remodeling must be located in the Cedar Rapids, Hiawatha, or Marion areas.

I don’t feel comfortable buying a home yet. Why can’t I just rent one of your homes?

Though H2H’s primary focus is providing stability for individuals and families through home ownership opportunities, we do occasionally rent our homes to qualified applicants. We encourage those who are thinking of purchasing a home either on contract or through the traditional lending process to do it when they are ready. Buying a home is an important decision and important steps must be taken beforehand. Budgeting, saving, researching, and building/repairing credit (if applicable) are some of the items that may be on our buyers’ radars. Focusing on these items helps to create a solid foundation for future home buying decisions. If a potential buyer is not yet ready for these tasks, renting may be the best option. Allow us to help you in this decision making process.

Can you help me buy foreclosures, short sales and fixer uppers?

We sure can. This is how to get the most bang for your buck. Buying foreclosures, short sales, and fixer uppers can lead to really great deals and many times require much less money down: 2-12% down, depending on condition and potential customization (if applicable). The only requirement, besides qualifying, is PATIENCE. These purchases can take time...anywhere between 2-6 months but they are many times worth the wait. Ask about the foreclosures, short sales and fixer uppers in our current inventory or in our upcoming purchase list.