Unlocking the Dream: Your Path to Homeownership with Sovereign Realty
By Eboni Killian, Managing Broker
Imagine having a space to truly make your own, a place where your children can grow up surrounded by stability, and the opportunity to build wealth for your future. This is the power of homeownership.
It not only boosts your net worth over time but also offers personal access to capital, allowing you to finance future endeavors like college education for your children through the growth of equity.
At Sovereign Realty & Management, our goal is to help as many potential homebuyers cross the finish line as possible. Starting in-house with our renters in the Property Management Division, we’ve created a seamless pathway to homeownership. Many of our renters have taken advantage of the opportunity to have their on-time rental payments reported on their credit report. This helps them establish, build, and maintain a positive payment history.
The first step in the home buying process is to assess your financial readiness and obtain a mortgage pre-approval. We begin educating about financial readiness as soon as our residents complete their rental application. An income requirement for renting a home through Sovereign is that your income must be at least three times the monthly rental amount. This requirement not only qualifies them for renting a home but also sets them up for success when they decide to purchase a home. We explain that it’s crucial not to spend more than 30% of their income on housing to ensure financial stability.
Providing resources to prepare our residents for homeownership while they rent is central to our mission. Whether it’s the opportunity for positive payment history on their credit report, information on available Down Payment Assistance Programs, or invitations to HomeBuyer Workshops, we ensure our residents have a clear pathway to homeownership. Once they’re ready to start their journey, we conduct personal consultations with a detailed step-by-step blueprint to guide them through the process.
At Sovereign Realty & Management, we believe in empowering our residents to achieve their dreams of homeownership. Through education, resources, and personalized guidance, we strive to make the journey as smooth as possible. We focus on Improving Lives and Transforming Communities. Whether you’re a current renter or a first-time homebuyer, we’re here to support you every step of the way.
Ready to start your journey to homeownership? Contact Sovereign Realty & Management today for a free consultation. Let our experienced team guide you through the process and turn your dream of homeownership into reality!
