MOST OF US HAVE TO PAY FOR EITHER RENT OR A MORTGAGE, BUT FOR THOSE WHO DON’T QUALIFY FOR A MORTGAGE, WHY NOT PAY FOR RENT ON A PROPERTY WE CAN OWN
Two to three bedroom properties starting at $411,000 with $2,200 per month payment.
CLICK HERE TO APPLY FOR THE PROGRAM
Are you having difficulty in qualifying for a regular mortgage from your bank? If so, our Rent to Own program is designed to help families achieve the dream of owning their home, in situations where they are not getting qualifies due to reasons such as;
Self Employed Income
Credit Issues
Consumer Proposals
Contract Employments
This is a partnership program with our investors who purchase property together with you with a minimum of 5%,10% or 20% down payment (plus 2% administration fee), based on 3 to 5 year term.
- You will be required to put a deposit which is determined based on property and term.
- Purchase Price is determined at the time of the start of the Term.
- You will make monthly payments which will include both rent and principal which will be used to pay down the principal on the mortgage.
- You will be responsible to pay for any property taxes, strata and insurance on the property.
- During the duration of the Term, property title will be held by the investor.
- At the end of the Term you will pay the balance left on your mortgage as BUYOUT and the title is transferred to your name by getting a mortgage from a bank.
- By the end of the term you will have accumulated enough equity in the property to get a mortgage from the bank.
- The principal portion of the mortgage that you have been paying every month along with the deposit you pay is returned to you as equity, and is used as down payment.
- The property can be purchased as a rental or to live in as principal residence.
- For example:
Purchase Price: $620,000 (as of today)
Down Payment: $31,000 (5%)
Total Mortgage: $589,000
Monthly Payment: $2,945
Balance after 5 Years: $535,996; (this is the buyout amount required to get property transferred in your name.)
Principal Paid: $53,004;
Your equity: $84,004 (Deposit $31,000 plus Principal Paid $53,004)