How does the program work?

Households that do not have a down payment; do not have necessary closing money; or have credit issues will benefit from the lease-purchase program.

Qualified participants (Lease-Purchaser) will work though the Key Choices Program to select the home of their choice in Anne Arundel County. New or existing single-family homes, townhouses & condominiums located within Anne Arundel County and the City of Annapolis will be eligible. Properties must appraise at the contract purchase price or above.

The Housing Commission of Anne Arundel County (HCAAC) buys the house and leases it to the Lease-Purchaser for a period of 24 to 36 months. The Lease-Purchaser is counseled by HCAAC to ensure that they are ready to purchase the home at the end of the lease period.

By making timely lease payments and resolving all outstanding credit issues during the lease period, the Lease-Purchaser will assume the mortgage from HCAAC if their FICO credit score reaches a minimum of 620 and they meet all program requirements.