At American Residential, we provide customers a great housing value in friendly, professionally managed communities. Now, with the addition of our Resident Rewards Rental Program, we’ve made home ownership even easier. 

What is the Resident Rewards Rental Program?

American Residential’s Resident Rewards Rental Program is designed to make the home buying process easier by providing qualified customers with down payment assistance to purchase their home.

How does the program work today?

Qualifying customers who rent their home and pay the qualifying rental deposit at lease signing may be eligible for assistance with a 5% down payment to purchase their home:

• After 9 months of complying with the lease terms, including timely rent payments, for customers with FICO scores of 600 or higher.
• After 18 months of complying with the lease terms, including timely rent payments, for customers with FICO scores below 600.

For qualifying customers who are eligible to purchase their home, the initial rental deposit may be applied to the down payment, with American Residential funding the remaining down payment up to 5% of the purchase price, including the initial rental deposit.

Is there an obligation to purchase the home after 9 or 18 months?

No, there is no obligation to purchase the home under the Resident Rewards Rental Program.

What is the price of the home?

The price of the home will be the market price at the time qualified customers purchase the home.

What about financing?

Qualified customers who are eligible to purchase their home will be responsible for obtaining any financing. While American Residential does not offer financing, 21st Mortgage, a third-party lender, may offer financing to qualified customers in our communities. We will offer to have the initial rental deposit and American Residential’s down payment assistance applied to any required financing down payment.

The availability of financing and the interest rates for qualified customers who are eligible to purchase their home will be based on market conditions and the then prevailing rates at the time qualified customers become eligible and purchase the home.