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Join Our Rent To Own Program And Become A Home Owner Today. Give Your Family The Home They Deserve Today!

 

In order for us not to “spam” you with SMS/Emails about properties that you might not be interested in, please customize your wants & desires below:

The Rent To Own Program That Works For You!

Our rent-own-program helps you own the home you want today. It’s excellent for self-employed, new immigrants, and anyone working to rebuild their credit. We tailor solutions for every client.

Our Rent To Own Purchase Program starts with a down payment as little as 3% or $10,000 down (whichever is greater) if you are Purchasing a New Home

With our unique rent to own program, you can move into the house of your dreams today and become the owner of the property at some point in the future…during the rent to own terms…normally for 3 years…our team of experts work with you to correct the issues that cause your bank to say “no” today – but allows us to help you set up for the future!

Benefits of Rent to Own

  • Build equity while living in your own home.
  • Say good-bye to paying rent.
  • Pride in homeownership – you are the owner NOW!
  • Rebuild your credit.

 

What We Do

  • Help you move into a permanent home of your choice.
  • Require an initial deposit towards your new home to get you started (Min 3% or $10,000 whichever is greater of the two options. Please note in some cases we may require more of a deposit to make the program work for you and your situation.)
  • Customize a program and home that best suit your needs.
  • Work with you to build your final deposit.
  • Flexible deposit building options to ensure your homeownership.

Your Responsibilities

  • Make your monthly payment on time.
  • Provide insurance on your possessions (content insurance)
  • Pay the utility bills.
  • Maintain the maintenance of your new home.
  • Follow the program to save your final deposit.
  • Rebuild your credit if needed.
  • Meet for an annual review to make sure you’re on track to successfully exit the program. We will help you make any adjustments so you can exit the program smoothly and on time.

How Does Rent To Own Work:

Here is a summary of events which occur during the Rent To Own Program:

  • You work with your own realtor or one of our referral Realtors to find the house you want to own in the future.
  • You will fill out our easy online application form by using this link here – http://bit.ly/2lTfh7h
  • Our Underwriting department analysis your application to ensure you can afford the Monthly Rent to Own Payment and that we can formulate a plan to get you into Home Ownership in the future. Basically we make sure we can resolve the issues that make Banks say no today.
  • Once we are confident you can exit our program we will find your Lending Partner. Once your Funding Partner is located, we will draft the Contracts which contain the financing details of your Rent To Own Purchase Program an send you a Rent To Own Program offer for your consideration.
  • You “must” take the paperwork for the Rent to own program to your lawyer to obtain Independent Legal Advice (ILA)…it is mandatory with our program.
    Once your lawyer has given the “green light” you will need to sign and return the agreements to us.
  • If you agree to the terms of the Rent To Own Program, we then ask you to send us back a signed copy of your acceptance along with supporting documents for our review.
  • The Real Estate contracts are then signed between the Seller of the Property and your Funding Partner…remember…your Funding Partner will actually buy the house on your behalf and you sign contracts to become the future Home Owner using our Rent To Own Program
  • We close…you move in and we start working on the “Exit Strategy” put in place before you were approved your Rent To Own Program

Each program is custom tailor to your exact needs to ensure a solution to fit your exact needs.

Our Rent To Own Programs & Requirements:

Our Regular Rent To Own For Salary Income Requirements:

  • 3% or min $10,000 ( Whichever is greater) Of Purchase Price
  • 2 IDS
  • Income Documents ( T4s, Job Letter, NOA’s, Paystubs)
  • Rental Agreement With Option To Buy
  • Meet with our team to build both your financial picture and rent to own program.

Our Self Employed Rent To Own Program Requirements:

  • 3% or min $10,000 ( Whichever is greater) Of Purchase Price
  • 2 IDS
  • Income Documents ( Master Business License or Articles of Incorporation, NOA’s, T1’s, 6 Months Bank Statements)
  • Rental Agreement With Option To Buy
  • Meet with our team to build both your financial picture and rent to own program.
Other Fees or Costs Involved In Our Rent To Own Program

Closing cost in advance before the offer becomes firm:

  •  $350 file activation fee, when go live
    • $475 home inspection ( Est cost)
    • $600 independent legal advice ( Est Cost)
    • $1,950 and up for consultant fee for your custom tailor exit plan (if required)
  • 1% Broker Fee
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It is simple: You move into your home today under a Purchase and Sale Agreement to be executed at a predetermined date at a pre-determined price in the future.

During your Rent to Own Program Term, our team of experts will work with you to get you “Bank” ready before the end of the Rent to Own period. The term of your Rent to Own Program is set to provide you enough time to clean up past credit problems or improve on any aspect of your Credit Profile or increase your cashflow for downpayment, required by current Mortgage Guidelines.

In addition to helping with your Financial Profile, we will help you save enough money during the Rent to Own Term so you have the required Down Payment for your Future Mortgage. A portion of your monthly payment goes towards rent/lease and up to 20% of your Monthly Payment goes into a Savings Component used towards the Final down payment for your future mortgage.

This savings component is often referred to as Option Credits (Credit given to you towards your mortgage Down Payment when you exercise the option to buy your home). The total savings accumulated during the Lease are added to your initial Down Payment to form your final down payment at the end.

With our Rent to Own program, you will know exactly what your Future Purchase Price, Down Payment and Mortgage would be. This allows our team of experts to properly position you for a mortgage based on today’s lending guidelines.

The Down Payment required depends on your Credit Profile when you apply.

Remember, the only way a Rent to Own Program will be successful is if it ends with YOU getting a Mortgage. Therefore, we have to ensure your Credit Profile and Down payment at the end of your Ret to Own Program are what the current mortgage guidelines demand. We don’t make the Mortgage Qualification guidelines but must be guided by them to ensure successful Rent to Own campaigns.

The minimum Down payment is the greater of 3% or $ 10,000 Minimum*

We have a variety of options for funding you application. If you have 3% or $ 10,000 to start, there is a very good chance we can help you get into your home “today”.

Please note that our team are experts in Mortgage and Credit Improvement. If you have a low Credit Score, it does not mean you will be declined. If we can help you improve your Credit Score and Profile to bank standards by the end of the Rent to Own Program, we do not place much emphasis on where your credit score or profile is today. Again, we will work with you to get Bank/Mortgage ready!

If you have 3% or $10,000 and want to buy a home…Get Pre-Approved today!

Note: *Having the minimum Down payment Requirement does not mean you are automatically approved. The starting Down Payment may be subject to change

If your Application is Pre-Approved, we require an activation fee of $850 plus HST.

$500 of fee will be returned to you towards your closing costs should you complete the application process and enroll in our Rent to Own Program..

The Activation fee is truly to ensure you are serious about moving forward and completing the enrolment process. If you complete, the above portion activation fee is refunded to you!

Remember, a Rent to Own Program is ONLY SUCCESSFUL when you buy your home at the end. Therefore we have to ensure we have done the proper underwriting for your success!

Not everyone can be approved for our Rent to Own program and there are a few reasons a prospective rent to own tenants is declined.

Here are the common reasons for an application to be rejected…

o    An Applicant does not meet the minimum down payment requirements

o    The house you choose is:

o    Too Rural

o    Not in a Good State of Repair

o    Applicant Income is not stable or verifiable

o    Applicant income does not support the Value of the Property you choose. A good Purchase Price guideline is 5 times your total household income.

o    Applicant Credit Profile cannot be improved to bank standards by the end of a Rent to Own Program

We do not restrict Self Employed client.

Most Self Employed Applicant are struggling to get Mortgage approval as many mortgage lenders have changed their policies to really restricted Self-Employed on their pursuit of Home Ownership.

Remember, the ability to get into a mortgage at the end of your Rent to Own program is the single most important component. We have to ensure Self-Employed clients have the right “Credit Profile” lenders are looking for by the end of the Rent to Own Program

As the home will be your future home and as you are the tenant, you will be responsible for the upkeep of the property.

Before any Rent to Own program is started, there is a Home Inspection completed. This Inspection is to ensure all parties to the program understand the condition of the home.

If there any repairs to be done before or after close, the repair schedule is agreed to before the program starts. This schedule will outline the repairs, estimated costs and who will be responsible for their completion.

Once the program starts, the maintenance of the property will be as detailed in the Lease Agreement between the Tenant and the Investor/Funder.

Again, this will be your future home so keeping it in a good state of repair will benefit you are the end!

When you make a Rent to Own Payments to your Investor/Funder, the Investor is expected to use the funds to make sure the Property Taxes and Home Insurance are paid on the Property.

Yes, either type of property is acceptable.

No. Mobile homes do not qualify for our Rent to Own Program…sorry!

Before we start any Rent To Own program, the Exit Strategy is clearly defined. What is an Exit Strategy?

The Exit Strategy is the All-inclusive plan to be executed to ensure you are ready for a Mortgage at the end of the Program term.

Everyone understands the expectations and what has to be done to ensure a successful Rent to Own Program, before it begins.

Unless something that could not be predicted happens, there should be NO Surprises at the end.

If there are extenuating circumstances that prevent the Rent to Own program from completing, we can extend the Program to allow these circumstances to be overcome. If you have been a good tenant there will be no reason not to extend.

NOTE: If you do not follow the Credit Improvement Program, do not make timely Rent to Own payments during the term or do something else that has not been discussed which will negatively affect your ability to exit the Rent to Own Program, there is a good chance we will not be able to extend the Rent to Own program and your Down Payment can be put at risk.

However, if you follow the program laid out for you, we have a VERY HIGH SUCCESS RATE!

Become a VIP Member Today With Our Rent To Own Program & Become A Home Owner Now!

Who is Rent to Own for?

Anyone struggling to buy a home may qualify for our rent-to-own program. Here are some situations that may have kept you from becoming a home owner that our program can fix:

  • Bad Credit History But Strong Income
  •  New in Canada
  • Issues Saving A Down Payment
  • Prior Judgments or Collections
  • Prior Foreclosure Or Power of Sale
  • Self Employed
  • Previously Bankruptcy Or Consumer Proposal
  • The New Banking Mortgage Rules
  • High Rates and Fees Associated With Private Lending
Rent To Own
Rent To Own

Traditional Rental Vs. VIP Insider Rent to Own Program

Our rent to own program gets you and your family into your dream home faster with easier criteria then traditional mortgages. As a renter, you’re paying your landlord’s mortgage. With our rent to own program, you’re building equity with every payment. Other benefits include:

  • Smaller Down Payments.
  • Lower Credit Score Accepted – We help Rebuild your credit !
  • Purchase price is Locked Upfront – Prevents Price Rise
  • The Freedom To Live Like A Home Owner, Because You Own The Home !

Fill out your VIP Home Profile

Talk with our Mortgage & Real Estate Partners to Review your profile and set you up to receive listings

Get Approved, Find your home and move in !

Client Success Stories

Our goal is to help our clients find and purchase top quality homes that will meet their family’s needs. We aim to provide the best service and advice to make home ownership stress free and enjoyable. The Real Estate Insider VIP Club was created to help our clients achieve financial success ! We invite you to join us today !

Copyright © 2016 Real Estate Insider VIP Club. All rights reserved. The Real Estate Insider VIP Club is not a real estate or mortgage brokerage, we are a referral source to our selected real estate and mortgage agents. In order to work with us and get the VIP members benefits or pricing along with the listings you must work with our partner team members or either the real estate side or the mortgage side or both.