Flagship initiative

The Florence & Horace Berman Tenant Purchase Program

Our hope is to offer responsible renters an opportunity to prepare for homeownership at their own pace — with stable housing, a price set in advance, and the time to use the best loan products available.

Who it is for

Renters with long-term ownership goals

Our flagship Tenant Purchase Program reflects our core value of making homeownership more available to ordinary people. Many responsible renters are fully capable of becoming homeowners, but struggle to compete with investors and out-of-town landlords making all-cash purchases. Our hope with this program is to offer an opportunity for tenants to prepare for homeownership at their own pace and have the time and space to use the best loan products available, including VA, FHA, and SONYMA, by having the exclusive right to purchase their homes off-market.

Key program features

What participants receive

  • Well-maintained apartments with responsive, respectful property management
  • Predictable rent terms set in advance
  • An exclusive right to purchase for up to 5 years
  • A purchase price set in advance
  • A 3-to-1 matched savings opportunity, up to $7,500, applied as a seller credit at purchase
  • Homebuyer education and support
  • No extra fees required to preserve the purchase option
  • Time to prepare for mortgage qualification and financial readiness
  • Reduced open-market bidding uncertainty
  • Potential rental income from the second unit after purchase

How it works

A five-step pathway

  • 1
    Step 1: Rental Period

    Participants begin as tenants in a renovated, well-maintained 2-4 family home.

  • 2
    Step 2: Homebuyer Preparation

    Participants are connected with established third-party providers for first-time homebuyer education courses and credit counseling or repair programs, if needed. Andro Henry helps participants access reputable local resources and stay on track through periodic check-ins.

  • 3
    Step 3: Purchase Option

    Participants receive an exclusive right to purchase the home for up to 5 years, with the purchase price set in advance. This structure allows participants to prepare for mortgage qualification over time, apply for available loan products (including FHA, SONYMA, VA, or other eligible programs), and avoid time pressure and competitive bidding conditions that can make these financing options more difficult to use in the open market.

  • 4
    Step 4: 3-to-1 Matched Savings

    Participants may save up to $2,500 and receive up to $7,500 as a matched credit toward purchase. Funds are applied toward eligible down payment and/or closing costs at the time of purchase, in accordance with program and lender guidelines.

  • 5
    Step 5: Rental Income

    Homes are primarily 2-family properties. After purchase, the second unit may provide rental income, which may be considered in mortgage underwriting and support long-term affordability and housing stability.

Important Note

All purchases remain subject to lender underwriting, program requirements, and applicable regulations.

Interested in learning more?

We welcome conversations with prospective tenants, partners, and supporters.