How it works

Step 1: Utopia Homes Rent to Own Homeownership

Get Approved

Apply for Free in less than 3 mins to find your Home buying budget. No impact on your credit score and non-binding to you.

Step 2: Utopia Homes Rent to Own Homeownership

Find your Utopia

Pick your dream home (with our agents or yours). We will buy it with an all-cash offer.

Move in to your dream home: Utopia Homes

Step 3: Utopia Homes Rent to Own Homeownership

Move-In and Earn

Rent your home while we work with you to make you a Homeowner. Our program turbo-charges your monthly savings for Down Payment by sharing the gains from Home Price Appreciation with you.

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What makes Utopia different?

Homeownership is one of the best ways to build wealth and secure one’s future. Utopia reduces any and all factors that could prevent you from owning a home by fast tracking your homeownership journey. Here is how:

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Try before Buy
We want to try out the neighborhood by living in it before buying the home. So, Utopia gives you the opportunity to live in the neighborhood and see if it is the right one for you before you buy a home.
Build Credit
Maybe, We don’t have the perfect credit score to be eligible for Mortgage. So, Utopia’s credit experts work with you to help you improve your credit score.
Save & Earn
Sometimes, we don’t have the boatloads of cash to make the downpayment for our dream home. So, Utopia helps you in saving and earning enough money over 2-3 years to be mortgage ready.
Free as a bird
You can buy your home as and when you are ready. And, if life happens and plans change then you can walk away and get your savings back.

Where is Utopia available?

Utopia Homes is continuously expanding across the Country. Our Homeownership program is currently available across major cities in the highlighted States on the Map.

These states are as follows: Alabama, Arkansas, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Missouri, North Carolina, Nebraska, New Mexico, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Utah, West Virginia, and Wisconsin.

FAQs

What is Utopia?

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Utopia helps renters achieve their homeownership goals faster. You select your dream home and we buy and rent it to you for 2 to 3 years while we get you ready for a mortgage. Your monthly payment also earns you profits as home prices appreciate. Our innovative tools, coaching and incentives further improve your credit scores, build up your down payment and get you a home loan on very attractive terms.

What is Utopia Wallet?

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When you rent with us, you have the option but not the obligation to buy your rental home by signing a purchase option agreement. You get a Wallet where your savings and earnings sit and grow every month. Your Utopia Wallet can grow in 3 ways:

1) Your contributions: When you sign the lease, you do not make any security deposit but you make an initial contribution of 2 percent of Price of Property (also called purchasing option premium). During the lease, you can make additional monthly or one off contributions so as to save for your down payment to buy the home.

2) Profit Sharing in Rent: Every month you earn a share of the rental profits. These rental profits are added to your wallet on a monthly basis and further grow your wallet.

3) Home Price Appreciation: With our innovative program, you also earn a portion of the increase in home value during the term of the lease. So, As the value of your rental home increases, the value of your wallet also increases to make you downpayment ready sooner.

How can I get started with Utopia?

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If you have a credit score of at least 550 and earn $3,500 per month or more then we encourage you to apply (It’s free) and get pre-qualified. We also take into account DTI Ratio and timely payment history to ensure that you would get a mortgage in the next 2-3 years. You can find your dream home with our network of agents or your own agent. As we buy the home that you selected, to rent to you, you will contribute upto 3% of its price as initial down payment. This money will go into Utopia Wallet and grow there so that you could be ready with the full down payment required by the Bank.

What if I choose NOT to buy the home at the end of the lease agreement?

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We do understand that sometimes life happens. So, if you choose not to buy the home at the end of your lease agreement then you will get back all your monthly savings contributions in the wallet. You will only lose the 3% you had put down to partially cover the re-selling costs of the home that Utopia purchased for you.