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General

What is Landis?

Landis helps renters transition to homeownership. We allow our customers to select their dream home, rent it and purchase it anytime in the first 12 months. We also offer tools and incentives to our customers to improve their credit score and build up their down payment.

How does Landis work?

  1. You apply on our website and get pre-qualified.
  2. You pick your dream home with one of our preferred agents. (We can also work with your agent if you already have one!)
  3. We buy the house and you rent it from us, while building up your credit and downpayment.
  4. Anytime within the first 12 months, you buy the house back at a predetermined price.

How does Landis compare to renting?

Landis allows you to rent a home until you can buy it using a mortgage. Landis helps you transition to homeownership which is cheaper than renting, ultimately saving you money. Landis also allows you to move into your dream home and customize it from day 1, so you don’t have to move again when you transition to homeownership.

How does Landis compare to a mortgage?

The Landis Homeownership Program is a great stepping stone to a mortgage, which we'll help you get.

How long is the Landis program?

We are a 1-year program. You can buy the house anytime within that period.

How long from application to moving in?

Our approval process takes less than a day. Then we pair you with an agent and you go visit properties. Once you’ve picked a home, it can take between 2 and 5 weeks until you move in. If you’re moving soon, don’t worry, we can move fast!

What if I don’t buy the house within 1 year?

Our goal is to make you a homeowner. We pre-qualify you if we have the strong belief you will be able to purchase the home within one year. If something unexpected comes up, we will still help you! In most cases, you keep renting the house until you buy it, even if it's past the 12-month period. If you change your mind, don't want to purchase the home and move out, we will refund you half of your Homeownership Credits.

How does Landis make money?

We make money from the rent you pay us and the appreciation of the house during the rental period.

To make sure we're always on your side, we don't take any commissions or fees from our agents. We also never sell your data to anyone.

Where does Landis operate?

We’re currently in Alabama, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina, Pennsylvania, Tennessee and West Virginia. If you operate in another area and would like us to come to you, please reach out at hello@landis.com.

Application

How do I apply?

Fill out our application form in less than 2 minutes and we'll be in touch!

Who is eligible for Landis?

Anyone who wants to own a house in the future should apply here. We'll let you know within 24 hours if you're a good fit.

Is there an application fee?

No, we don’t have an application fee!

How do you decide my home budget?

Our prequalification process is rigorous. Your home budget is the maximum house price that allows you to (1) make monthly rent payment, (2) save for a down payment, and (3) get a mortgage in the next 12 months.

What if I had a bankruptcy or a foreclosure?

  1. If you had a chapter 7 bankruptcy, you are eligible for Landis if you have been discharged at least 1 year ago.
  2. If you had a Chapter 13 bankruptcy, you are eligible for Landis if it has been at least 1 year since the discharge date. Under extenuating circumstances (e.g. death of a breadwinner) you may be eligible for Landis if you have filed at least 3 months ago and have a perfect track record of plan payments. Please email customers@landis.com after completing an application with additional information explaining the extenuating circumstance if it pertains to you.
  3. If you had a foreclosure, you are eligible for Landis if you are at least 2 years from the completion date.

Why might my application be denied?

We take several factors into consideration when reviewing an application. You could be declined because of your rent-to-income ratio, debt-to-income ratio or credit profile.

What documents do you require?

For traditional employment (hourly, salaried, or commissioned), we verify income with the following items:

  • Most recent tax return or W2
  • 2 recent paystubs
  • 2 most recent personal bank statements

For self-employment or contract employment, we verify income with the following items:
  • Most recent tax return (1040 or 1099)
  • 2 most recent personal bank statements
  • 2 most recent corporate bank account statements and most recent K-1 showing percentage ownership (if applicable)

How long are pre-qualifications valid for?

Landis pre-qualification letters are valid for 1 month. If you’re not sure when you want to move, go ahead and apply today!

Will the application impact my credit?

Landis will only ever perform a “soft check” on your credit, which will have no impact on your score.

Picking a Home

How long does it take from when I select a home to when I move in?

It typically takes 2-5 weeks.

What homes are available with Landis?

You can move into any single-family home that is for sale and priced between $75,000 and $400,000. Note that houses listed for sale are of higher quality than houses listed for rent, which benefits you!

Can I use a real estate agent?

Yes! If you already have an agent, we’ll happily work with them. If you don’t, we’ll match you with one of our preferred agents in your area. All of our preferred agents have been screened and vetted in order to work with you.

What if I already have a house in mind?

Great! Please let us about it and we’ll do what we can to get it for you.

How does Landis decide what price to offer?

We negotiate the best and lowest price we can, and pass on the savings on to you!

Rental Period

What happens after I move in?

You rent the house from us and you can purchase it at any time throughout the 12-month lease.

Can Landis help me improve my credit?

Yes! We can provide general advice and can also refer you to credit specialists. We’ll even rebate your rent when your credit score goes up.

Is there a required deposit?

Yes, we require a standard security deposit when you rent the house. This security deposit even becomes a portion of your down payment if you don’t damage the house!

What are my Landis payments?

Your monthly payments include rent and a portion that builds up your down payment. We also ask for a security deposit when you move in. That's it - no hidden fees or charges!

Are my monthly rent payments applied to the purchase price of the home?

Yes, a portion of your rent goes towards Homeownership Credits. That amount adds up to the down payment you need to buy the house within a year - so you can go straight from paying rent to paying a mortgage, without any other expenses.

Can I have pets in my home?

Yes! This is your home, after all. You just need to register your pets before moving into your Landis home.

Do I pay for taxes, insurance, utilities, maintenance, etc.?

We pay for taxes and homeowners’ insurance while you rent. You will pay utilities and, as though you owned the home, small maintenance items under $200 (anything more than $200, we'll split with you). Overall, owning your home is cheaper than renting it!

Buying the Home

Can I buy a home in the middle of a lease term or do I have to wait until the end of the year?

You can purchase the house anytime throughout the lease period.

What price will I buy the property at?

You can buy it after 12 months at a 3% increase to its appraised value when we buy it.

Do you provide me with a mortgage or other financing?

We don’t provide you with a mortgage, but we can refer you to lenders and local banks who will assist you with a mortgage.

Can I use a VA, FHA, USDA, or other kind of mortgage?

Absolutely! And if your city, county or state offers assistance programs, Landis is also happy to work with these. We can’t guarantee you’ll be eligible but can facilitate introductions to lenders and local banks.

What fees or closing costs should I expect when I buy the home?

All the fees and closing costs will be covered by your Landis down payment fund, so you'll only be responsible for your monthly mortgage payments!

Agents

I’m an agent / broker, how can I work with Landis?

We partner with thousands of agents around the country on 2 fronts: 1) acting as our buyer’s agent on our acquisitions and 2) lead referrals. If you’d like to work with us, please reach out at hello@landis.com or set up a call with one of our team members here.

When does an agent typically use Landis?

Agents refer customers that want to buy a home but can't qualify for a mortgage. Common reasons include a low credit score, not enough for a down payment, a recent bankruptcy, self-employment or any other reason.

Can I get a commission when I work with Landis?

Of course! If you refer us a lead, you’ll represent us when we buy the property for that lead. If you are one of our preferred agents and we refer a lead to you, you’ll represent us on that transaction too!

Do I have to pay to use Landis?

No! You do not need to pay anything to have your client benefit from the Landis Homeownership Program. We do not charge agents a referral fee, and you'll make your full commission as if you sold the house directly to your client.

What types of homes does Landis purchase?

We buy single family homes and townhomes between $75,000 and $400,000. We prefer properties built in the last 20 years but will make exceptions if need be.

How does Landis determine the offer price for a home?

We typically buy properties listed on the MLS and negotiate if we can. We are all cash buyers.

How does Landis determine the rent on a home?

Rent is at fair market value. We also ask our tenants to put some money towards a down payment every month.

Who are the Landis Preferred Agents?

They are the agents who have referred leads to us and have shown great professionalism in our interactions with them. We pass on our leads to them in return. If you’d like to apply to be a Landis Preferred Agent, please contact us at hello@landis.com.

I have a listing and I’d like to use Landis for it. What can I do?

If you receive messages from leads that ask to rent or rent-to-own a property that is for sale, please send them our way through our agent portal https://www.landis.com/agents. We’ll buy the house and rent it to them. You can also ask the seller if you can list the property for rent and rent-to-own. We’ll come in and make everyone happy: the seller sells, we help a lead and you make your commission!

Do you have your own purchase and sale agreement / contract?

We use standard local contracts.

What happens if my client asks me to use Landis directly?

Please tell them to apply on https://www.landis.com/apply and we’ll be in touch shortly.

Lenders

I’m a lender, how can I work with Landis?

We partner with lenders around the nation on referrals. We can send you our current tenants who will buy our properties or we can serve your leads that you think will buy properties soon but are not mortgage ready yet. If you’d like to work with us, please reach out at hello@landis.com or set up a call with one of our team members here.

When does a lender typically use Landis?

Lenders send us customers that want to buy a home but can’t close on a loan. It could be due to a low credit score, insufficient down payment, a recent bankruptcy, self-employment or a number of other reason.

What types of homes does Landis purchase?

We buy single family homes and townhomes between $75,000 and $400,000. We prefer properties built in the last 20 years but will make exceptions if need be.

How does Landis determine the rent payment on a home?

Rent is at fair market value. We also ask our tenants to put some money towards a down payment every month.

What happens if my client asks me to use Landis directly?

Please tell them to apply on https://www.landis.com/apply and we’ll be in touch shortly.

Do I have to pay to use Landis?

No! You do not need to pay anything to have your client benefit from the Landis Homeownership Program.

Homebuilders

I work at a homebuilder, how can I help?

We partner with homebuilders who want to sell their properties! Typically, a homebuilder will reach out to us when a potential buyer can’t close on a home or a customer asks if they can rent or rent to own the house. In that case, we step in by buying the house for the customer. They can then rent the house from us until they close. If you’d like to work with us, please reach out at hello@landis.com or set up a call with one of our team members here.

What types of homes does Landis purchase?

We buy single family homes and townhomes between $75,000 and $400,000. We love newly built properties!

How does Landis determine the rent payment on a home?

Rent is at fair market value. We also ask our tenants to put some money towards a down payment every month.

Do you have your own purchase and sale agreement / contract?

We use standard local contracts.

Do I have to pay to use Landis?

No! You do not need to pay anything to have your client benefit from the Landis Homeownership Program.

Richard

Hi, I'm Richard

I'm a member of the Landis team. We'd love to work with you. Give me a call to see if we can make you a homeowner!

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