The Promise Homes Company

Who They Are

Promise Homes is committed to providing its residents with Dignity in Housing.

We Promise our residents quality housing at affordable prices as well as financial empowerment and assistance that would position them financially to eventually own a home.

We believe that by supporting our residents with a series of financial and economic support services, we improve their lives while building a stronger and more resilient company. By treating residents as partners, we also improve the communities that we serve. We will do well by doing good.

We Promise our communities that we will improve the lives of our residents through financial empowerment programs that provide credit and money management counseling. By engaging local small businesses to provide services for our residents, we will create a local, sustainable supply chain and reliable vendor service providers.

Please complete the form below and we will be in touch with you shortly to find your new home.

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Tenant Screening Criteria

We qualify tenants using the following guidelines and critera:

  • Credit Score 600+ This can vary greatly based on the value of the home and the urgency of the Owner to secure a tenant. Minimum FICO scores for an FHA loan are 580.
  • Past Evictions: No evictions filed in the last 5 years. Any previous eviction should always be vetted extensively. After 7 years evictions are deleted from record.
  • Income: Gross income equals 3x the monthly rent. Depending on the value of the home this expectation can swell to 5x the monthly rent.
  • Rental History: Payment History and Utility Bills. Tenant must provide contact information for the previous Landlord as well as Utility Bills from the previous address.
  • Other Variables: TIN, Corporate Relocation, Insurance Placement, Sec. 8
  • Current Collections Accounts: No collections accounts created in the last 90 days Any debt in Collections can be a bad sign, however Collections Accounts created in the last 90 days can be an indicator of more financial problems pending.
  • Criminal History: HUD Guidelines. RW Policy around HUD Guidelines attached to TPA and shared with Owner
  • Verification Sources: Paystubs or Bank Records. Tenant must provide current Pay Stubs or Current Bank Records to match financial claims.
  • Pet Information: Pet Resume and Pet Photos, Specific Restrictions
  • Unique Consideration Offers: Long Term Lease, Large Down Payment, Cash for Term

The Promise Homes Difference

Promise Homes offers its residents a new type of community with programs designed to help them reach long-term financial stability. Our sustainable financial empowerment model partners with residents by providing them with resources to gain greater financial knowledge, improve their credit score, and reach overall financial stability. Our commitment to our residents is strong and based on the belief that our residents are our strength.

Promise Homes offers the following complimentary services to its residents:

1

Financial literacy education and coaching for all adults and children in the household

2

Opportunities for Homeownership

3

Rewards at every stage of credit score improvement

4

Rent decrease upon graduation into the Promise Homes 700 Credit Score Club

5

Financial counseling resources for credit management

6

EITC qualification

7

After 18 months of on-time monthly rent, residents receive on month of rent

8

After 60 months of on-time monthly rent, residents receive three months of rent

Sound like the kind of renting experience you want? Take the next step to see if you qualify by viewing our tenant screening criteria, or search for a property on our website!