|
Rent-To -Own Program
I work with investors to help you get the home that you want even if your credit is less than perfect. So how does it work. Rent-to-Own investments are a lot like car leases. you enter into an agreement where the investor buys the home and leases it back to you with a buyback option at the end of the term. You will still need a deposit and you will add a portion of your monthly "rent" to that deposit over the term of the rent-to-own agreement. At the end of the Rent-to-Own term you can approach a bank or Mortgage broker and apply for a mortgage for the remaining balance in order to buy the investors out.
This program is not for everybody. However, if your credit is poor or you do not have a deposit of 5% of the purchase price or do not qualify for one of the cash back mortgage packages, then this my assist you to get into the home the you have always wanted.
The basic qualifications for this program are that your credit must be fixable within the 2 to 3 year term of the rent to own program and you must have an income that would qualify you for the mortgage that you will need at the end of the program. As such any bankruptcy or credit proposal must be discharged before you can qualify and you must have not missed any payments, to any creditors, since the discharge.
For details on the Rent To Own program please fill out the form below or contact me on my direct line at 416-278-2335..
|