Buy or Rent to Own Homes, Land and Properties in Ontario
Read this before Signing Your Next Rent Check
- Do you dream of your own home instead of rent?
- Did banks refuse your mortgage application?
- Is Bad credit history hindering your home buying prospects?
- Do you have 3% – 5% down payment?
- Do you have a stable job and steady income?
If YES, we have the perfect plan for you – ‘Rent to Own’ Toronto homes plan.
Largest selection of beautiful Toronto homes. Turnkey houses waiting for new owners.
Our rent to own terms are mutually beneficial for the buyer-tenant and the landlord.
We hate lengthy document processing. Minimum documentation promises positive results.
Why Pay Rent when You can Buy your Dream Home
Why Pay Rent?
If you are sick and tired of renting homes, we have the ideal way to make you a proud homeowner. Yes! You can own your dream home ‘Without Bank Qualifying’. What’s more? You can own a property at an amount less than the rent they are paying.
Forget qualifying for a bank mortgage application. If you have a good income but banks refuse your application due to bad credit history, our rent to own program is the perfect solution. Your blemished credit score and financial history is not a hindrance for us.
Designed for You
Our ‘Rent to Own Home Assistance Program’ is designed to help Ontario residents move into own homes proudly. We ensure every tenant finds a suitable home within his/her budget. Our rent to own homes starts as low as $1,400 and go up to $5,000 per month.
What is Rent to Own – Understand the Concept
Rent-to-own concept works just like rent to own furniture albeit at a higher price bracket. The tenant and the owner enter into an ‘Option to Purchase’ agreement. It includes an initial fee plus a monthly rent and the buyer/tenant acquires the exclusive right to buy the property after a set period of time later at a pre-defined price. Usually, the fee stands at 2.5% to 3% of the home’s price. Besides the rent, the tenant pays another amount for the down payment.
Ideally, the entire financial part comes up to 5% of home’s purchase price. This is significantly lower compared to the bank’s deal. Hopefully, the tenant improves his/her credit rating over the next few years and becomes eligible for an insured CMHC mortgage. The deal is closed.
Traditional Rental Vs. Rent to Own
Simply put, rent to own gets you your dream home quicker. In traditional lease/rent, tenants keep paying rent and landlord pockets everything. In rent to own agreement, your rent is actually a portion of the eventual down payment of the home.
- No Lender/Bank Qualifying – We Approve you Directly
- Significantly Smaller Down payment – Often just 4%
- Bad Credit Score Accepted – We help Rebuild your credit
- Purchase price is Locked Upfront – Prevents Price Rise
- You Own the House – Live Like the Owner
Who is Rent to Own for?
Basically anyone struggling to buy a home due to various reasons, personal or external, is ideal for rent to own homes. Here are some ideal candidates for rent to own program:
- Bad Credit History but Good Income
- Expat or New in Canada
- Cannot pay Large Down Payment
- Living on Rent their Entire Life
- Judgments or Collections
- Foreclosure – Power of Sale
- Self Employed
- Small Business Owners
- Previously Bankrupt
- Orphaned Mortgage
- Consumer Proposal
- Unpaid Income Tax
What Separates Renting to Own from Others?
Ours is a trusted business offering a unique rent to own approach that focuses on tenant and their needs. Most companies focus on the property and advertise it to tenants hoping for a sale. At ‘Renting To Own’, we focus on the tenants and work with them to find their dream home.
- Our Rent to own contract focuses on ‘YOU’ and your home requirements
- We help you select your house from the huge inventory – shop on MLS
- Talk to realtors to find the right house – just like other home buyers
- If required, we help with your credit building
You can buy the rented home anytime during the rent period mentioned in the agreement. If you don’t want to buy the home, simply move to another one of ours rent to own homes. We are a rapidly growing company offering superior rent to own homes in Mississauga, Brampton and Toronto. Ontario’s leading credit repair professionals and real estate experts have partnered with us to provide superb rent to own services.
Are you ready to end your renting days? This may be your chance. Call us Today.