Housing the Southeast                              Affordably!

H2O is Southeastern Housing Foundation's Award Winning Affordable home ownership program.

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H2O has helped thousands of families obtain affordable housing since 1993.

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H2O is a true "Lease to Own" based home ownership program.

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H2O programs run for 5 years.

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H2O residents complete a home buyer education course,

and have access to credit CPR.

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H2O provides “Free and Clear” ownership in as little as 20-25 years, 

not the long 30 year financing programs offered by bank or HUD financing.

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                                                                 How does H2O Work?

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    I.  Resident/Applicant signs a residential lease and separate purchase option agreement. 

 

    II.  Applicant/Buyer pays 3% option fee at signing, and is fully credited at closing.

 

    III. Applicant/Buyer will recive additional 12.5% purchase benefit at closing for successful completion of program.

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    IV. Resident/Applicant must show proof of income equal to a minimum of 3.5 times the lease amount to be eligible for         

         program. May be reviewed on case by case basis.

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     V. Monthly lease payment is set for duration of program. I.E. $1,500 per month for entire duration of program. 

 

    VI.  Resident/Applicant is required to carry rental, personal property loss and personal liability Insurance coverage. Proof of 

         coverage is required at lease renewal and/or time of posession. 

 

    VII. Occupancy is required for entire 60 months of H2O program to maintain elgibility.  

 

    VIII. Resident/Applicant must remain current on all lease payments to be eligible for program and ownership. 

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    IX. Upon completion of program, Resident/Buyer will transition into a pre-arranged fifteen or twenty-year FHA backed 

            mortgage. 

 

    X. Resident is required to maintain property in A-1 physical condition.  All repairs, landscape, gutters, maintenance,

    appliances, etc. are the responsibility of the resident/applicant to be maintained at their sole expense. 

 

    XI. SHF will perform regularly scheduled quarterly inspections and reserves the right inspect at any time. Any violations of the 

        above is grounds for termination of lease and loss of all rights by tenant/applicant.

 

    XII. No Drugs or illegal activity is permitted on the premises during entire duration of H2O program and violation is grounds

    for termination of lease and loss of all rights by resident/applicant. 

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Contact one of our advisors and see how easily you can become a home owner with

H2O!

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