The Second Chance Program

If a Georgia lender denied you because of credit but you have your own down payment and closing costs ready, The Second Chance Program from UHome Mortgage may give you another path. It is UHome's Earned Equity Program, where a HUD approved, FHA eligible government entity purchases the home you choose and you move in, make a structured lease payment, and earn equity from closing while you work toward full ownership.

Our team reviews the full story, not just the score, so one credit event does not have to end the deal. We do not promise an approval, but we will tell you honestly whether it is a fit.

It may be possible. A recent late payment can be reviewed against your overall stability rather than treated as a single disqualifier. Collections and charge offs can be reviewed case by case, with room to resolve them as part of the path forward.

Because UHome is an independent broker that shops many lenders and reviews the full file, these items may be considered under The Second Chance Program where a traditional lender stopped. Nothing here is a guaranteed approval, and a strong letter of explanation helps.

Yes, it can be reviewed. Under The Second Chance Program there is no hard minimum score. A score below 580, and even no score at all, may be considered with compensating factors and a strong letter of explanation.

Our team weighs the full picture, including your income, reserves, and the funds you already have to close. This is a review, not a guaranteed approval.

No. The Second Chance Program is not down payment assistance. It removes the credit barrier, not the cash barrier. You bring your own down payment plus your closing costs, unless the seller pays your closing costs, and your closing costs may include your first payment. You also pay for the appraisal. If you do not have your own funds to close, this is not the right program, and our team will point you toward a better fit.

You bring your own down payment plus your closing costs, unless the seller pays your closing costs. Your closing costs may include your first payment, and you also cover the cost of the appraisal. The program does not provide these funds. It is designed for buyers who already have the cash to close but were stopped by credit.

The Second Chance Program is UHome's Earned Equity Program, a structured, protected path to homeownership through a HUD approved, FHA eligible government entity. It is a safer alternative to typical private rent to own and lease to own deals. With most private rent to own and lease to own arrangements you build no equity until an option is exercised, and you can face balloon payments and little oversight. With The Second Chance Program you earn real equity from the day you close, your rights are protected through a recorded homebuyer agreement, and your path to full ownership is defined from the start.

You begin building equity from the day you close. When you exit the program through a refinance, sale, assumption, or buyout, the equity you built and eligible appreciation from your closing date forward belong to you. Equity is realized when you reach one of those four exit points, the same as any property with equity.

Yes. This is your home, not a rental you tiptoe around. You can paint the walls, renovate, plant a garden, and yes, add a pool. The main expectation is that you stay in the home for at least one year, and after that the next move is yours.

The one core expectation is that you stay in the home for at least one year. After that, the next move is yours, whether that is refinancing into your own mortgage, selling, assuming the FHA loan, or buying out the balance.

You have four exit options: refinance into your own mortgage, sell the home, assume the underlying FHA loan when you qualify, or buy out the balance. When you exit through a refinance, sale, assumption, or buyout, the equity you built and eligible appreciation from your closing date forward belong to you.

You do not lose the home. If you cannot refinance, sell, assume, or buy out, then as long as you keep making your lease payments, the home is paid off at the end of the forty year term and it is yours. This is a safety net, not the recommended path, since most buyers exit earlier through one of the four options. If something happens to you, your family is not trapped in payments and is not left with nothing.

Because you are building real equity, the home can be sold and the equity you built, plus eligible appreciation from your closing date forward, goes to your family, the same as any property with equity. The structure is recorded and protected, unlike the disappearing equity of predatory rent to own.

You pay for the appraisal. It is one of the costs you bring as the buyer, along with your down payment and closing costs. UHome does not cover the appraisal.

Possibly. The Second Chance Program may consider buyers with an ITIN, DACA status, and non permanent residents. Self employed buyers can also be reviewed, and as little as three months of bank statements may be used to document income. These are reviewed case by case as part of the full file, and none of this is a guaranteed approval.