Consider Rent to Own.
Are you dealing with Credit Challenges that are preventing you from getting a mortgage? Self-Employed? Divorced? New to the country?
You are not alone. Countless Canadians feel like they HAVE to rent instead of owning their own home because some of the challenges listed above.
Worse yet, many have made the decision to buy their own home, found the right property BUT were turned down for a traditional mortgage. Now what? Renting again? No. You don’t have to continue lining the pockets of your landlord while they enjoy all the equity growth in the property you live in.
Instead of waiting until your credit is repaired, you can rent to own a house TODAY that fits your budget and your needs; and that will allow you to enjoy the great benefits of home ownership.
RENT TO OWN is a great solution that will give you the time you need to repair or rebuild your credit, save more down payment, show more income if self-employed, or establish your credit while living in the same home that you will own a the end of the rent to own term.
Rent to own can be a great solution for:
- Those with Credit Challenges (Consumer or Bankruptcy OK);
- Those with NO credit;
- People who are self-employed;
- Newcomers to Canada;
- Those who are dedicated to improving their credit situation.
In order to rent to own, a down payment is required. Our minimum down payment on homes up to $350,000 is $10,000, or 5% of purchase price above $350,000
Your initial down payment is 100% credited towards your purchase of the home at the end of your term (on average 36 months).
Would you rather invest in your family than pay rent?
Our mortgage agents will gladly set up a call with you to walk you through the program and answer any questions you may have so you can decide whether or not rent to own is a good fit for YOUR family!
A critical component of rent to own is to restore your credit while adding to your initial down payment each and every month. Each month you will build up your ownership stake (equity) in your own home rather than simply give it away to someone else in the form of rent.
Consider this, if you spend $1800 per month on rent, that’s $64,000 that has gone into someone else’s pocket over the course of three years. Wouldn’t you rather have that money going into your own property?