1. Overview
The Lease-to-Keys Program (hereinafter, “the Program”) is an initiative developed and managed by CyberOne Homes (“the Builder”) to assist qualified participants (“the Participant”) in transitioning from renting to homeownership. The Program is designed to address three primary barriers to homeownership—down payment, credit qualification, and income limitations—through a structured lease period followed by a purchase opportunity.
Participation in the Program constitutes acknowledgment and agreement to the following Terms and Conditions.
2. Purpose and Mission
CyberOne Homes’ mission is to make homeownership accessible to hardworking families through an affordable pathway that requires no down payment, no closing costs, and provides a manageable monthly payment. The Program allows eligible Participants to occupy a newly constructed CyberOne Home under a lease agreement while a portion of the monthly payment is reserved toward the Participant’s future down payment and closing expenses.
3.1 Lease Period
- Each Participant enters into a residential lease agreement for a term typically ranging from 6 to 12 months, during which the home remains titled to the Builder.
- The lease rate is intentionally discounted to enable the Participant to accumulate down payment credits during the term.
3.2 Down Payment Accrual
- A portion of each monthly lease payment is credited toward a down payment reserve, held in escrow or trust by the Builder’s designated property management affiliate.
- All funds are fully documented and disclosed for future mortgage qualification purposes.
- Credits are non-transferable and may only be applied toward the purchase of the specific property occupied under the Program.
3.3 Credit Improvement
- During the lease term, the Program may facilitate complimentary credit optimization services for Participants.
- Subject to compliance and builder approval, a portion of the accrued down payment reserve may be applied toward settling collections or reducing credit card balances to expedite mortgage qualification.
- CyberOne Homes does not provide credit repair or financial advisory services and may refer Participants to third-party professionals for such assistance.
3.4 Income and Interest Rate Assistance
- To improve mortgage qualification ratios, the Builder may allocate up to $20,000 toward an interest-rate buy-down at closing.
- The contribution amount and final loan terms are subject to lender approval and federal and state lending regulations.
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Builder-Paid Interest Rate Buy-Down
We contribute up to $20,000 toward buying down your interest rate, helping secure a significantly lower fixed mortgage rate. This can result in monthly payments that are lower than what you’re currently paying in rent.
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Flexible Qualification Pathways
If you’ve been turned down by traditional lenders due to credit challenges, debt-to-income ratio, or limited savings, we offer creative and supportive financing strategies to help you qualify.
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Immediate Benefits from Day One
Start living in your future home with lower rent and a plan that builds equity from the start.
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Lower Monthly Payments
Discounted lease rates designed to help you save while living in your future home.
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Build Equity Immediately
Each rent payment contributes directly toward your down payment goal.
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Security and Stability
Enjoy the peace of mind that comes with knowing the home you’re leasing is the home you’ll own.
Here’s an example:
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Save for Your Down Payment:
If you need to save $15,000 to meet the 3.5% down payment required for an FHA loan, we will structure a one-year lease at a reduced rent that enables you to save that amount during the lease term.
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Improve Your Credit Profile:
If additional steps are needed—such as paying down credit cards or resolving collections to improve your credit score—we can incorporate those costs into the plan. This ensures you’re well-positioned to qualify for financing by the end of the lease period.
4. Transition to Homeownership
- Participants must occupy the property as their primary residence for a minimum of six (6) consecutive months before closing, as required under Florida Office of Financial Regulation guidelines.
- Upon successful completion of the lease term, credit readiness, and lender approval, the Participant may proceed to purchase the property.
- The final purchase price, interest rate, and loan program will be determined based on prevailing market conditions and the Participant’s final qualification status.
- Should the Participant elect not to purchase or fail to qualify, the lease may revert to standard tenancy terms at market rent or terminate at the end of the lease term.
5. Builder Contributions and Limitations
- All Builder contributions—including interest rate buy-downs, closing cost credits, and rent discounts—are voluntary incentives and not guaranteed for every property or Participant.
- The total value of all Builder credits shall not exceed six percent (6%) of the property’s purchase price, in accordance with federal lending guidelines.
- Contributions may not be exchanged for cash or applied toward non-housing expenses.
6. Participant Responsibilities
Participants acknowledge and agree to:
- Maintain the home in good condition during the lease term.
- Make all payments in full and on time.
- Participate in credit-readiness and financial-review consultations as scheduled.
- Provide accurate and complete information required for mortgage qualification.
- Comply with all terms of the executed lease and purchase agreements.
Failure to comply with the above obligations may result in forfeiture of accrued credits and termination of Program eligibility.
7. No Guarantee of Loan Approval
Participation in the Program does not constitute loan approval or guarantee mortgage financing. All final approvals are subject to lender underwriting standards, independent credit review, property appraisal, and verification of income and assets.
8. Property Condition and Warranty
All homes constructed under the CyberOne Homes brand are delivered new, inspected, and warrantied in accordance with the Builder’s standard 10-Year Structural Warranty. Normal wear and tear during the lease period shall remain the Participant’s responsibility.
9. Program Modifications
CyberOne Homes reserves the right to amend, suspend, or terminate the Program or any of its incentives at any time, without prior notice, provided such changes do not retroactively affect executed agreements.
10. Legal Disclosures
- The Program operates in compliance with state and federal housing, lending, and consumer-protection laws.
- CyberOne Homes is not a mortgage lender and does not originate loans.
- Mortgage financing is arranged through licensed third-party lenders approved by the Builder.
- All escrow and financial transactions are handled through licensed and bonded entities in compliance with applicable state regulations.
11. Limitation of Liability
CyberOne Homes, its affiliates, and representatives shall not be liable for any indirect, consequential, or incidental damages arising from participation in the Program, except as required by law.
12. Acceptance of Terms
By submitting an application or entering into a Lease-to-Keys Agreement, the Participant acknowledges that they have read, understood, and agree to these Terms and Conditions, and consent to CyberOne Homes’ policies regarding data handling, escrow management, and program administration.