Build a down payment while you rent.
For renters with some savings, you can start putting your rent to work with just a 2.5% deposit. Simply pay your rent while enjoying your Pathway home and when you’re ready to buy we'll match your deposit up to 100%. That gives you up to 5% of the home's pre-determined price to put down as a down payment! And if you decide not to buy the home after move-in, there are no penalties and you’ll get your full Savings Deposit back.
If you need more time to improve your credit before getting a mortgage, Savings Match is the perfect solution. You can start living in the home you plan to buy and take the time you need to build up your credit score.
Other rent-to-own solutions force you to save money by adding a premium to your rent that you get back later. With Savings Match, your savings deposit grows, and even doubles, simply by paying your regular monthly rent. In 5 years, your 2.5% will be 5% without you saving or paying an extra dime. And if you decide not to buy the home after move-in, there are no penalties and you’ll get your full Savings Deposit back.
Maybe you’ve already gotten approved for a low down payment mortgage but keep losing out on homes due to competition in the market. Pathway buys every home with cash, making our offers more competitive in today's market.
From the day you submit your application to the day you become a homeowner, here’s what you can expect to pay on your journey with Pathway.
Our application only takes a few minutes and it won’t impact your credit score.
After we’ve bought the home and you’re ready to move in, we’ll collect your 2.5% Savings Deposit, first month’s rent, and a security deposit. Your lease is for one year with the option to renew for up to five years.
Each month you’ll pay rent your rent as usual. Your lease is for one year at a time, but we tell you what your rent will be each year for up to 5 years, so there are no surprises.
Pathway will contribute to your savings deposit each year to help with your down payment when you buy the home.
At lease signing, we’ll agree on the future purchase price of the home. You can opt to buy the home any time after your first year, with a full 5 years to decide and get ready. When the time comes, your Savings Deposit, including matched funds from Pathway, can then be used as a mortgage down payment when you buy the home.
If things change and you decide to move on, we’re flexible. There is no obligation to purchase the home. Just let us know and you can move out at the end of your annual lease term with no penalty and you’ll get your full Savings Deposit back.