Let us help you bridge the gap between buying a home and qualifying for a mortgage with a rent-to-own program. The rent-to-own program helps lead people down the path to homeownership by working with you to save for a down payment and fix minor credit blemishes, all while you live in the home that you’ll own.
Homeownership is inching further out of reach for many Canadians each year. Property values are rising, and the government is continually changing mortgage qualification rules. Two common challenges are not having a down payment or less-than-perfect credit.
If any of these situations apply to you, and you want to own a home, contact us today:
- Declined for a mortgage
- No down payment
- New to Canada on a work permit? We can work around the Foreign Property Buyers Ban
- Just starting to build credit history
- Credit rebuilding, including DISCHARGED consumer proposal or bankruptcy
- Self Employed
This rent-to-own program provides options for both brand-new homes and older homes that can be renovated for you.
NOTE – if you are currently going through a bankruptcy or consumer proposal, we can only help if you have 20% down.
Owning a home is considered to be a rite of passage for many Canadians. It symbolizes independence. You set the rules, make the decisions, take financial responsibility and invest in your future.
Renting doesn’t give you much control over the property. You are under the landlord’s mercy when it comes to following the rules written in your lease agreement. Renters with changing needs must also deal with changing properties. There needs to be an option to modify your living space to suit your needs better. Homeownership means you can choose a home that is best suited for you or change it on your terms.
Moving from rental to rental is inconvenient and can be an emotional burden. You never really know where you’ll be living next or what your expenses will be. Homeownership increases sustainability and stability. It allows you to invest financially and emotionally in your home and community.
Homeownership is an investment for your future. Unlike a car, a house appreciates in value over time. As you pay down your mortgage each month, the mortgage balance goes down while the value of your home continues to rise. Many Canadians rely on paying off their mortgage to significantly reduce their living expenses so they can retire. As a bonus, in most cases, you don’t have to pay taxes on the appreciation of your home when you sell it.
Contact me, Mike Brandsma with The Mortgage Centre, to start a mortgage pre-approval and see if you qualify for the rent-to-own program. I have partnered with Realtor®, Chantelle Mackenize with Real Broker, who will take the time to discover your needs and find a home that is the right fit for you.
We want to help you become a homeowner – so let’s get started today!