- Sick of renting?
- Don’t qualify for a conventional mortgage?
- Damaged Credit
- Low Down Payment
- New To Canada
- Self Employed
- Tax Arrears
- Facing Power of Sale
- Facing Foreclosure
If any of the above apply to you, Rent to own might be a solution for you.
Rent to own is a real estate term relating to a real estate agreement, which is comprised of a rental lease and a purchase agreement where the tenant has the option to purchase the property at a fixed price at a specified point of time in the future. It is also known as lease to purchase option, lease option, owner financing or lease-to-own
Source: Wikipedia, the free encyclopedia
To Purchase a home using Rent to Own agreement :
- Purchase must be within an Urban Center
- A minimum of 5% down payment is required to start
- Maximum purchase price must not exceed 5x total family income
- Current Credit Rating does not matter
If you like to have more information if rent to own program is an option for you, please feel free to contact us 204-800-8264.