Builders looking to spur buying among first-time new-home buyers may want to try the Owner Lease Program from Move-Up America. The program lets homeowners with an existing home purchase a new home from a participating builder while keeping their existing home as a rental. Under the terms of the program, Move-Up America pays the home buyer up to 3 percent of the existing home's estimated value. The 3 percent reimbursement covers leasing commissions, property management fees, and unpaid monthly payments. The Owner Lease Program is available in Georgia, North Carolina, South Carolina, and Texas.
Learn more about markets featured in this article: Atlanta, GA.