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Mortgage Programs

I am interested in Rent To Own

Technically, this is not a mortgage program, but it might be a way for you to buy the house you want now instead of waiting for your situation to improve to the point where you can qualify for a mortgage.  This program is a great alternative to just renting.  Clients who use this program have usually recently gone through a bankruptcy, a consumer proposal, a divorce or separation, or had a job loss and thier credit suffered as a result.

Our investors will buy any house that you want and can afford with a few restrictions;

  1. The house must be in or near a major city or town
  2. The house must not be close to a highway, a graveyard, or commercial or industiral area
  3. The minimum purchase price is $250,000
  4. You must be employed full-time and not self-employed.

Rent to Own

You will only need a 5% deposit upon closing and you will accumulate an additional 5% over the term of the Rent To Own.  Therefore, at the end of the Rent To Own term, you will have a 10% down payment accumulated.

You don't need to pay any closing costs now, but will need to cover those closing costs when you purchase the home at the end of the Rent To Own term.

We will need to analyze your situation to determine when you would be in a position to qualify for a mortgage on your own. We will help you put a plan together to improve your credit and employment.   We will need to do an annual "check up" with you to make sure your credit and employment is improving.  There are annual fees to monitor your situation and report to the investor.  If you do not follow the plan and are not in a position to purchase the home at the end of the Rent To Own term, you will lose your deposit and accumulated funds.  Therefore, this program is really only for those that are serious about re-establishing thier credit and want to be a home owner.

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