• +905 515 9407
  • elvis@premierhouses.ca

How Rent to Own Works

How Does Rent To Own Work? 

We put a large portion of your monthly rent “rent credit” towards the Down Payment of the home. We also offer “Free” credit counselling to help you qualify for a mortgage with the bank and if permissible we can also assist with the down payment at the time of purchase.

 

Rent to Own terms are quite flexible. In many instances we have been successful at helping families buy homes in as little as 4-6 weeks but the term will depend on your situation. In most cases the term is 12-18 months but we will also try to help you own the home sooner. However, in certain situations we will provide an option to simply rent the home. Please contact us for more information.

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We offer “free” credit counselling and work with people with all sorts of credit issues. We will assess your situation and see what needs to be done to help you own a home. When setting up a rent to own program, we require 1st month’s rent. Any additional money you can raise above first month’s rent will all go towards the Down Payment for the home.

 

When you set up a rent to own program, we will set the future selling price. The selling price will be set before you move in so there are no surprises when the time comes to purchase the home. We also have incentives for families that work hard to get a mortgage quickly.

 

We hold the mortgage and are responsible for paying it until we are able to help you purchase the home. You are only responsible for the rent, maintaining the home, and improving your credit worthiness with the help of our “free” credit counselling.

 

What Happens If We Can’t Purchase After The Term?

 

We will extend the term. This assuming you have been paying your rent on time, looking after the home and showing signs of credit improvement, we will work with you until you own the home.

 

ASK ABOUT OUR GUARANTEED
CREDIT APPROVAL PROGRAM

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    How Can We Help You?

    Looking to Sell your Home Quickly? We Can Help.

    Just fill out the "Sell Your Home" form and we will set up a free consultation and appraisal.