Frequently asked Questions
1. Am I eligible to purchase one of these homes?
A: If you currently live in one of the Buckeye Community Hope Foundation's home, you are eligible to buy. It doesn't matter if you have lived there 15 years or 1 month, once you live there, you are eligible to buy.
2. Do I need to qualify for a Home Loan to buy?
A: Yes, you must meet affordability standards applied by OHFA. Then you must become mortgage ready and able to obtain a mortgage.
3. What do I need to do to become mortgage ready?
A: This requires a longer answer, but you must have a credit score of 640 or above, have established lines of credit (at least 2) and have sufficient income to pay the mortgage. Each household is individual and this will be discussed in more detail with you.
4. Can someone not currently living in the home purchase it?
A: Yes, but that person must meet the affordability criteria under Affordable Housing guidelines, and also be able to obtain a Mortgage with the same criterion listed above.
5. What if I do not want to purchase my home? Will I need to move?
A: No, you will not be required to move. Your lease will be honored.
6. What if I want to purchase my home but do not qualify?
A: We will do everything possible to help you qualify. Some clients are unable to purchase due to recent bankruptcies, or large amounts of derogatory credit. However we will go through each case and determine together with you if we feel we can help you become mortgage ready.
7. Can one of my family members purchase my home?
A: Yes, if they qualify under affordable housing and can obtain a mortgage.
8. Can I use my own mortgage officer?
A: Yes, you can. However, we advise that you speak with our designated Mortgage officer as he has significant experience in affordable housing, has access to down payment programs few other officers have access to, and works through the various challenges faced in applying for a home loan.
9. Who is RenuHomes?
A: RenuHomes is a developer, and owner of real estate across the USA. We also help people who want to become home owners achieve their goals. Our goal with these projects is to enable every client who wants to become a homeowner achieve their goals.
10. When can we buy our home?
A: We have 4 projects that are ready for sale from January 2021.