$90,000+ STRONG CANDIDATES
No pending evictions, evictions filings, or apartment collections.
Minimum TransUnion average credit score of 580+ or higher.
Chapter 7 bankruptcies must be discharged before applying. Will consider closed, adjusted, and discharged. Home Partners will consider a Chapter 13 bankruptcy if the applicant can supply a court approved payment plan and status is current.
No felonies in last 6 years. (violent crimes, sexual offenses, or drug distribution)
Everyone 18+ of age that lives/resides in home must be on application. (Even if income is not being considered for income verification.) Includes adult children and family members.
Everyone must have a social security number or taxable ID.
3 Pet limit restriction. no breed restrictions. $300/animal security deposit. $30/month pet fee/not per pet.
Income verification is required for all applicants being considered for rental amount.
Income verification can be in forms of: last 2 most recent pay stubs, W2 form, copy of last years tax return, job offer letter, profit & loss statements if self employed.
After submitting full application resident is provided a pre-determined maximum rent, which aligns with a 35 percent payment-to-income ratio and a 45 percent debt-to-income ratio.
Auxiliary income include but not limited to:
Child support, alimony, disability, social security, or retirement income.
These can be verifiable by an award letter or court documents.
Must be able to demonstrate having readily available funds at least 2 times of the rental approval that resident is seeking.
Verification should be in form of checking/savings account statement no older than 30 days.
Retirement and non liquid accounts will not be considered as apart of income verification.
Communities No Longer Approved: Maple Grove, Minneapolis, South St. Paul, Farmington, Fridley, Anoka, Blaine, Coon Rapids, Bloomington, & Spring Lake Park.
Income Verification Criteria
Property Qualification Criteria
Town Home Guidelines
Pet/Air Filter/Utility Fee
Right To Purchase FAQ
Typically takes on average 60-75 days to move into home selected once we go under contract.