Frequently asked questions

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Mirabilis Homes is a small, but growing, company on a mission to help facilitate home ownership for all who desire it. We offer innovative financial products, tools and resources designed to help you achieve your homeownership dream while maintaining financial flexibility.

"Mirabilis" is a Latin adjective meaning “miraculous, amazing, wonderful“. It is commonly found in the Latin phrase “Annus Mirabilis” which translates to “marvelous year.

The INTRO Program is a new & improved version of the decades-old rent-to-own model that eliminates the primary barriers to home ownership: 1) a large down payment, and 2) mortgage qualification. The Program allows you to begin your home ownership journey with a minimum investment and no debt, and features financial rewards that help accelerate your transition from renter to homeowner.

  • Once you’ve been accepted to the INTRO Program and identified a home that fits within its guidelines, Mirabilis will purchase the home alongside you. At closing, you contribute 2% of the purchase price and enter into a lease to rent the home from Mirabilis. The lease includes a purchase option that allows you to buy the home from Mirabilis when you’re ready.

  • When you enroll in our INTRO Program we establish a Tenant Fund for you. The Tenant Fund essentially functions as a savings account, with special financial benefits, to help you accumulate the down payment necessary to exercise your purchase option as soon as possible. Your 2% contribution toward the purchase price will be deposited into your Tenant Fund at closing, and you may choose to make additional contributions at any time.

  • The Tenant Fund appreciates at a contractual rate, and as its balance reaches certain milestones, Mirabilis will deposit funds into it as well. When you exercise your purchase option, the entire balance of your Tenant Fund will be credited toward the option purchase price.

  • Please refer to the How It Works page for additional information.

The INTRO Program lasts 4 years and can be extended for an additional 2 years if certain conditions are met. You may exercise your purchase option at any time during the Program.

You may exit the INTRO program at any time, but keep in mind that if you exit the Program without exercising your purchase option, your initial 2% contribution to the Tenant Fund will be forfeited along with all appreciation and funds deposited by Mirabilis. Voluntary additional contributions will be refunded to you, however.

When you enroll in our INTRO Program we establish a Tenant Fund for you. The Tenant Fund essentially functions as a savings account, with special financial benefits, to help you accumulate the down payment necessary to exercise your purchase option as soon as possible. Your 2% contribution toward the purchase price will be deposited into your Tenant Fund at closing, and you may choose to make additional contributions at any time.

The Tenant Fund appreciates at a contractual rate, and as its balance reaches certain milestones, Mirabilis will deposit funds into it as well. When you exercise your purchase option, the entire balance of your Tenant Fund will be credited toward the option purchase price.

Please refer to the How It Works page for additional information.

No, any additional contributions to the Tenant Fund are purely voluntary. But keep in mind that the Fund appreciates at a contractual rate and, as its balance reaches certain milestones, Mirabilis will deposit funds into it as well. The more you contribute to your Tenant Fund, the more financial benefits you receive.

The initial lease term is 48 months, but you may terminate the lease at any time after the first 12 months by providing 60 days notice.

The first year’s rent is determined based on comparable market rental rates. Thereafter, the rent increases at 4% per year.

The option price for each year of the INTRO Program is clearly stated in the lease agreement. It is calculated as follows:

Year 1: 5% increase over actual home purchase price

Year 2: 4% increase over year 1’s option price

Year 3: 3% increase over year 2’s option price

Year 4: 3% increase over year 3’s option price

Year 5: 5% increase over year 4’s option price

Year 6: 4% increase over year 5’s option price

No, but keep in mind that if you exit the Program without exercising your purchase option, your initial 2% contribution to the Tenant Fund will be forfeited along with all appreciation and funds deposited by Mirabilis. Voluntary additional contributions will be refunded to you, however.

  • Financial rewards towards your down payment: Your Tenant Fund appreciates at a contractual rate and, as its balance reaches certain milestones, Mirabilis will deposit funds into it as well. This helps accelerate your transition from renter to homeowner.

  • Improved Credit Score: We report your on-time rent payments to the major credit bureaus which improves your credit score and allows you to secure more favorable mortgage terms. Late rent payments are not reported to the credit bureaus.

  • Tech-Enabled Management:Once enrolled in the INTRO Program, you’ll gain access to our proprietary online Tenant Portal where you can view & manage your entire rent-to-own experience. The portal allows you to pay rent, submit maintenance requests, and manage your Tenant Fund, among many other features.

You can apply through our online application portal here. It’s free to apply and only takes about 15 minutes. The portal will ask you to input basic information about yourself and your desired home, and upload a few documents (document requirements vary among applicants, but generally include things like a valid ID and proof of income/employment).

Once the application is complete, we’ll perform a ‘soft’ credit check which does not impact your credit score. We’ll then review your application in full and notify you of its approval or denial within 3-4 business days. If approved, Mirabilis will give you a budget to begin shopping for your dream home.

At the moment, the INTRO Program is only available to those who wish to become a homeowner in the State of Texas. Beyond that, anyone can apply. There are no specific requirements such as minimum credit scores or maximum debt-to-income ratios.

You can apply again to our INTRO Progam in 6 months

The Mirabilis website is a great place to start, as the homes on our site are pre-qualified for the INTRO Program. However, you are welcome to use any search method you like, such as online marketplaces (Zillow, Realtor.com) or a local real estate agent. Homes do not need to be listed on our website to qualify for the INTRO Program.

Detached single-family homes and attached townhomes typically qualify for the INTRO Program, so long as they were constructed within the last ~20 years and are in good physical condition according to a home inspection report. Brand-new construction homes can also qualify for the Program, even if their delivery is still a few months away. We generally prefer homes in the $250k - $700k price range.

Condominiums and manufactured homes do not qualify for the INTRO Program, nor do homes with major repairs/renovations required. Onerous HOA restrictions may also disqualify a home from the Program.

Yes, you are welcome to work with any real estate agent you like.

Once you’ve found your dream home, Mirabilis will prepare an all-cash offer. To come up with a fair offer, we look at a number of different variables including sales comparables, market trends and other relevant data points. If our internal pricing deviates significantly from the ask price, we will refrain from making an offer.It is in both Mirabilis’ and your best interest to only purchase properties that are fairly priced, as these homes have higher wealth generating potential.Our offers generally include a 10-day option period where we perform an inspection and ensure the property meets our guidelines.

We own some of the homes on our site, but not all. You are not limited to selecting from only the homes on our site. You are welcome to select any home that fits our INTRO Program guidelines, regardless of how you found it.

It typically takes 4-6 weeks to finalize the homebuying process. You can move in immediately after closing.

  • Mirabilis pays for all property taxes, insurance, HOA dues (if any) and maintenance/repairs.

  • You are responsible for paying for all other expenses such as utilities, internet, cable TV, landscaping, garbage pickup, pool cleaning, housekeeping, etc.

You can move in immediately after Mirabilis closes on the home; typically 4-6 weeks after our offer is accepted by the seller.

Once enrolled in the INTRO Program, you’ll gain access to our proprietary online Tenant Portal where you can view & manage your entire rent-to-own experience. The portal allows you to pay rent, submit maintenance requests, and manage your Tenant Fund, among many other features.

Rent increases by 4% every 12 months. The exact monthly payments for each lease year will be clearly stated in the lease agreement.

  • You are required to pay monthly rent plus expenses such as such as utilities, internet, cable TV, landscaping, garbage pickup, pool cleaning, housekeeping, etc. Mirabilis pays for all property taxes, insurance, HOA dues (if any) and maintenance/repairs.

  • We love agents! If you have a buyer/client that may have trouble qualifying for a mortgage and/or does not have sufficient cash for a down payment, we encourage you to refer them to our INTRO Program. Our INTRO Program is a rent-to-own solution that allows aspiring homebuyers to live in their dream home while they prepare for home ownership.

  • If your client enrolls in the Program and we successfully purchase a home together, Mirabilis will pay you a buyer’s agent commission.

  • Yes! If your client enrolls in the Program and we successfully purchase a home together, Mirabilis will pay you a buyer’s agent commission.

Mirabilis makes all-cash offers which gives your client an advantage in the homebuying process.

Detached single-family homes and attached townhomes typically qualify for the INTRO Program, so long as they were constructed within the last ~20 years and are in good physical condition according to a home inspection report. Brand-new construction homes can also qualify for the Program, even if their delivery is still a few months away. We generally prefer homes in the $250k - $700k price range.

Condominiums and manufactured homes do not qualify for the INTRO Program, nor do homes with major repairs/renovations required. Onerous HOA restrictions may also disqualify a home from the Program.

If there is a buyer that’s interested in purchasing a home you’re listing, but may have trouble qualifying for a mortgage and/or does not have sufficient cash for a down payment, we encourage you to refer them to our INTRO Program. Our INTRO Program is a rent-to-own solution that allows aspiring homebuyers to live in their dream home while they prepare for home ownership.

We partner with developers and homebuilders who are selling residential properties in several ways:

  • List your unsold home inventory on our website for free, which will significantly expand your buyer audience.

  • Use our INTRO Program as an additional sales tool! Refer your potential buyers to the Program who may have trouble qualifying for a mortgage and/or do not have sufficient cash for a down payment. Upon meeting certain requirements, Mirabilis will buy the home directly from you (all cash) and lease it to them.

  • We regularly purchase unsold and/or not-yet-delivered homes directly from builders/developers. We have the capability to purchase homes in bulk.

    Please contact us to discuss any of the above scenarios at help@mirabilishomes.com

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