What is a Rent to Own Program?

The rent to own program is a means of buying a home in which the tenant rents with an option to buy within a fixed period of time. During the life of the rental, you are allowed to occupy and use the house like it is your own without worrying about credit like most other lease-purchase programs. Moreover, unlike normal leasing options where your agreement ends after your pre-negotiated lease term runs up, our rent to own program allows you to purchase at any time during your occupancy! This makes it possible for anyone who cannot qualify right now but will have enough cash in some months or years. We work together with lenders who give us approval on taking back this option contract into their portfolio so you can get approved for financing when you buy the house.

Now with this great opportunity, you can get a chance to own your dream home, with no credit check and monthly payments tailored to fit your budget! Get yourself out of overpriced rentals that will only leave you wishing for a place of your own in the long run. You pay a deposit and then ongoing rents which are put in a holding account until it reaches enough money for you to purchase the house at any time during the agreement period. A rent-to-own contract is just like a Lease Option , except when you reach the agreed upon price between buyer and seller, you have an option to buy or not. It's very common in Canada because most home buyers do not qualify from traditional mortgage companies when getting a home loan for the first time.

However, rent to own is not a get-rich plan or performing investments with high returns. We have clients from many different backgrounds and circumstances who have been able to buy homes using our program. Whether you're a new immigrant, student, self employed, retired or employed... We can work out a payment plan that will fit your budget!

Why is the Rent to Own Program so important for Canadians?

For those who are not familiar with this program, Rent to Own (RTO) is a type of leasing process where the seller accepts monthly payments as an alternative to traditional cash down payment. Also, the option to purchase can be included in the initial contract and after a certain time or after all the lease payments have been made you may end up owning your purchased property. The main difference between RTO and conventional renting is that you don't become a real owner until the end of the agreement and it's also much like buying on credit because it involves some risk for both parties. It is usually utilized by people who cannot afford purchasing their current home but do not want to rent forever either.

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Usually, RTO is a popular option with people who are looking for their first home.

Rent to own has always been the best alternative for Canadians who value independence and flexibility in their life, but have no luck in getting approved for a mortgage due to lack of income or have bad credit record. The main reason why so many are turning towards this type of agreement when it comes to buying property is the fact that you don't provide any down payment but still get all the benefits of being an owner. Also, there are several important benefits even when renting through RTO programs especially if you have poor credit history or can't afford traditional down payment right now - your monthly rent payments become lower than usual market value rental rates which allows you to save more money for your future purchase.

Another important advantage that buyers are considering is one of time frames. You just pay the rent every month and wait until you get approved for financing by the mortgage lender. This way you don't have to worry about saving money, especially if your monthly income is very close to what you would make in the case of renting an apartment or home in Canada . Of course, there are several disadvantages associated with this technique but they can be avoided through proper RTO contracts between two parties. However, you need to decide whether it's worth the risk for you before signing any contracts because once you sign them you cannot change anything at all (except paying more each month).