Is the Dream America Program Just for Folks with Bad Credit?

The Dream America Program is just for people with bad credit, right?  WRONG. 

Clients that are mortgage-ready but need to sell their current home before they can buy a new house love Dream America.  Why does that happen?  One of the criteria every mortgage lender looks at is a borrower's "debt to income ratio".  To calculate this, they add up your monthly payments - mortgage, car, credit card, etc and divide it by your income.  If you don't have enough income to support two mortgage payments, lenders will tell you to sell your current house before you buy a new one regardless of how good your credit score is.

Trading up? Downsizing? And want to know where you are going.  Dream America has a solution!

Go find your new house, Dream America will buy it and lease it back to you until you sell your current home.  And with no minimum rental period and 10% of rent paid credited towards your new purchase, you are in control of the process.  


Last Minute Glitch with Your Mortgage? Dream America to the Rescue!!

You are pre-approved for a mortgage. After a time-consuming house search, you have an accepted offer on the house you want!  Everything is progressing through underwriting and heading to close.  Then the dreaded call from the mortgage lender comes…..”WE HAVE A PROBLEM.”  Maybe you are lucky enough to extend the closing and the problem is resolved.  Or maybe not.   And now you are frustrated and your purchase is falling apart. DREAM AMERICA TO THE RESCUE! Although you probably never considered lease to own, you are happy to hear that Dream America can jump-in, buy the house you have under contract, and then lease it back to you until you straighten out the issue with your mortgage.

How fast can we close a deal save?  1 week.  If the inspection is complete and any necessary repairs are already done, Dream America will take-over the existing file and work to close ASAP.

What should you do if you find yourself in this situation?  Complete the online application and email detalls about your situation to 

We are here to help!

Dream America is turning renters into owners!

Should I lease or lease to own?

The decision to lease versus lease to own is dependent on many factors given one’s personal and family situation and goals.  The best alternative may be for you to continue to rent and buy in the future.  However, if housing prices continue to rise, you will end up paying more in a year from now than you would today.  Perhaps your lease is ending and you need to move soon.  Leasing to own would allow you to move into your Dream home today.  A home that you have selected, not just another rental.  And finding the home that you desire today allows you to not have to move again and go through the time and expense of having to move twice.  When you lease to own through Dream America, we purchase houses with no financing contingency.  This means that Dream can probably get a better deal today than you could on a home that you select.  The less we pay today, the less you will pay in the future.

At Dream America, we realize that every potential client’s situation and home ownership goal is different given income, time horizon, and family needs.  Our goal is to provide options so that you can make an informed decision. And one that is right for you.  If you are an aspiring homeowner and looking to lease to own in Georgia, Florida, or Tennessee we invite you to apply.  You could just be a few weeks away from your Dream home.

Dream America is turning renters into owners!

The Dream America Home Buying Process

Once your application is approved, you and your agent will receive an onboarding email with the steps needed to complete the process which includes a maximum home purchase price. The welcome email will explain that in order to secure your spot in our program, you need to immediately send $500 to Dream America. This is not an additional fee because it is credited back towards your 1st month’s rent. However, if you don’t complete the process, you will lose your $500 welcome payment. We do this to ensure that clients accepted into our program are committed and not wasting everyone’s time. 
You now go out with your agent and look for your Dream home. Once you find the home you want, the Dream Team will work with your agent to put together a Purchase Agreement. The buyer is Dream America LLC and we will provide the earnest money. 
Once Dream America is under contract, we will order an appraisal and an inspection (no inspection on new construction). We work with a nationwide appraisal management company who manages appraisals for banks, credit unions and residential lenders in all 50 states. For the inspection, we use a large well-regarded company. The inspection report not only contains a list of items that need to be repaired, but also includes an estimate of the cost to repair. 
We will obtain both of these reports during our 10-day inspection window. We will share the inspection report with you and your agent. Dream America does not plan on being a long-term landlord, so we want you to be comfortable with the condition of the home that you are ultimately purchasing. Depending upon the outcome of the report, we may ask the seller for repairs or a credit towards repairs so that critical items can be addressed. If major deficiencies are discovered that the seller won’t address, we will cancel the contract (for example, the house needs a new roof and the seller refuses to pay for it). 
Dream America is not interested in buying houses that are a wreck. We are not in the fix and flip game. We don’t require new construction although we have had clients select new homes from Dream Finders, D.R. Horton, Lennar, LGI Homes and others. At a minimum, we want a house that is in move-in condition, built or renovated in the past 15 years. 
Dream America pays for the inspection and appraisal on the first home you select. If that house does not work out and the you select a 2nd house, you will be asked to reimburse Dream America for our out-of-pocket expenses on the first home. 
Once the inspection period is over, we move towards closing. The typical timeline from the date a house goes under contract to closing is 3 weeks or less. In a deal save situation (where a client comes to us after a last-minute glitch with their mortgage), we may be able to close in a week if the inspection and any agreed repairs have already been completed. 
Still have questions? Contact us at 
Dream America is turning renters into owners!

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