How our Rent to Own (Lease to Own) Programs Work

What is a Rent to Own or Lease to Own ?
Rent to OWN - Proud New Homeowners
  • A Rent to Own (aka Lease to Own or Lease Option) is simply a lease combined with an exclusive option to purchase the property within a specified period of time.
  • Rent to Own is an excellent solution for tenants with poor or limited credit history, who do not currently qualify for a typical mortgage.  Another common reason we see is insufficient length of employment.
  • With a Rent to Own the purchase price is guaranteed at the beginning of the lease term with your initial Option fee (down payment) paid by yourself, the tenant-buyer.  This initial option fee is then 100% credited towards your future purchase when you successfully qualify for your own financing at the end of the term.
  • A Rent to Own can avoid high down payments (up to 35%) required by the few lenders willing to help people with insufficient credit.  This solution provides time to improve credit history which will then allow a lower down payment combined with a preferred low interest rate mortgage from an "A" Lender.
  • A Rent to Own usually includes a monthly Option fee, which is credited, in addition to the initial Option fee, towards the purchase of the home when the option to purchase is exercised at the end of the term.
  • A Rent to Own can work as an automatic savings plan towards your future purchase while giving you time to repair or establish your credit rating and establish a sufficient employment history during the term.
  • With a Rent to Own you benefit today by living in the home of your choice that you plan to purchase and you can sleep at night knowing that you have put a solid plan in place for your family.
  • Our Rent to Own program is simple - we'll walk you through it. Before long, you'll be living in the Home of Your Dreams that you selected and with the help of our incredible team of experts we'll help you buy it too!
With our unique Buyers Selection Programwe acquire the home YOU want and then rent it to you on a Rent to Own (aka Lease to Own) basis while helping YOU qualify to purchase it from us as soon as you're able.  It's that Simple!
Benefits:
Rent to OWN - Proud New Homeowners
  • You Select Your Own Dream House ... ANY House ... ANYWHERE
    You will choose the home that fits your lifestyle and we'll guide you through the home selection process with the assistance of our team of real estate professionals, at no additional cost to you. That's right, you can live in the home of your dreams in the neighbourhood you choose! You can select (almost) any house that's available for sale, anywhere. Of course there are a few small conditions that apply, because ultimately we want to ensure you will live in a safe neighbourhood where homes are appreciating in value.
  • No Bank Qualifying Required
    Conventional lenders such as banks have strict lending guidelines that restrict many applicants from qualifying for a mortgage. Qualifying to purchase a home through our Rent to Own program is easy! If you have reliable income to support the monthly lease payments and are able to provide an initial Option fee, then you can easily qualify for one of our unique and exciting Rent to Own Purchase Programs, even with damaged credit.
  • Minimum Cash Upfront
    While we do require a minimum initial payment in order to get started, the GREAT NEWS is that it's 100% credited towards your future purchase of the property. We'll help you build on that foundation throughout our program to help you save up a significant down payment towards your purchase. This allows you to defer expensive initial costs that come with conventional bank financing such as a larger down payments (up to 35%) plus closing costs.
  • Flexible Lease Term
    The lease is typically based on a 1 to 3 year term. We find that most of our clients are typically able to obtain their own financing after one or two years. The lease term works as a time benefit for you - giving you time to establish or restore credit, save up a larger down payment and lengthen your employment history. You will work with our associated mortgage professionals to determine how long of a term you require.
  • Time is on Your Side
    A Lease Option gives you the time you need to repair or establish your credit rating, save for a larger down payment and perhaps even grow equity in the property. This makes it a very appealing investment for yourself, the tenant-buyer, as you are spending very little money to control a valuable and potentially very profitable investment, while the purchase price of your home remains unaffected from market appreciation.
  • Help When You Need It
    Our Buyers Selection Program gives you direct access to our associated mortgage broker team that specializes in helping clients like yourself successfully qualify for their own financing at the end of a Rent to Own term.  When you sign up for our program you'll work one-on-one with our mortgage broker team to create a step-by-step action plan custom tailored to your situation so that you will know exactly what steps you need to take and in what order.  We've also partnered with a leading not-for-profit credit coaching agency that will be available to meet with you one-on-one throughout your term to help ensure your success.  Don't worry - we've thought of everything!
  • Guaranteed Purchase Price
    The purchase price is a conservative estimate of the future value of the property at the end of your lease term. It is established at the beginning of the lease term and is guaranteed for the entire length of that term. If, by the end of your term, the market appreciates strongly and your property is appraised higher than your Lease Option price, then you will benefit directly from the additional appreciation.
  • Equity Growth
    An initial Option fee is required at the beginning of the lease term which will be credited towards the future purchase. In addition, a portion of each monthly lease payment will be credited towards the purchase as well. It's like building equity while you rent, ultimately putting you in a stronger position to qualify for your own financing. You also benefit directly from all equity appreciation during the term when you complete the purchase.
  • No Hidden Fees
    Your monthly lease payments are inclusive of the following fees: rent payments, property taxes, building insurance, condo fees (if applicable) and Lease Option credits. You are required to set up and maintain your own services/utilities such as electricity, gas, water, sewer, garbage, recycling, personal contents insurance as well as optional utilities such as telephone, cable and internet.
  • Flexible Financing
    At the end of your lease term when you are ready to exercise your Option to Purchase we will help align you with a certified mortgage professional who will work for you at no additional charge to find the RIGHT mortgage for you, your family and your future. We will work with you every step of the way to help ensure that you realize your dream of home ownership!
APPLY NOW - Take the First Step Towards Home Ownership or view our Frequently Asked Questions if you would like more information.

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The MOST Trusted and Sought-After provider of Rent to OWN Homes in Alberta: Calgary, Airdrie, Red Deer County (Red Deer, Sylvan Lake, Penhold), Lacombe, Okotoks, Edmonton and more!

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