The Solution To Home Ownership In Canada

lease to own homes West IslandPurchasing a home is a milestone in many individuals’ lives. Not only is it a mark as coming of age but it is a major asset to help you build financial security. The most reliable form of wealth comes from owning real estate, but what if you can’t get approved for a mortgage? This is a realization that many people are dealing with today. Banks are constricting the amount of loan and mortgage applications due to the recent recession and tightening of the mortgage approval process.  Now, many people are left in the dark about how to reach the goal of home ownership.

If you have no credit rating or bad credit, not enough finances for a large down payment, are new to Canada or are self-employed, you might face these obstacles. Luckily there are solutions to the problem of obtaining a traditional mortgage. The real estate market relies on people consistently buying and selling homes. For those of you who fit into the aforementioned categories, the lease to purchase option is just for you.

Many of us come out of school, land a job and hope to purchase a home down the line. We can become side tracked due to a variety of reasons, or because of credit, and getting back on track can seem like a nightmare. Some of us come into hard times and have had to declare bankruptcy or have fallen into a bad credit rating. The lease to purchase homes option allows us to work through financial hardships and be on our way to home ownership.

Your first step is to call a reliable rent to own homes company like Sandstone Management in Canada.  They go through your situation and finances with you and set a budget and timeline for your lease to own. A realtor helps you find the ideal home within your predetermined buying price.  Sandstone checks the home for fair value, structural soundness, defects, etc., to be sure the home is a good investment. You pay a small down payment (usually 5%) and reasonable monthly lease payments for a short fixed term that lasts 1 – 3 years. During this time, a portion of your payment is set aside to make up a small down payment. When the fixed term is over, you will apply for a mortgage on the same home with your new found equity and more favorable credit rating that their mortgage counselors help you achieve.  Since the price of the home is pre-determined for after the lease period, you benefit from any rises in the market and any work you put in.  You can start building equity before you even own the home!

The lease to own home Toronto and other parts of Canada is the answer for those who don’t qualify for traditional mortgages. Talk to an advisor at Sandstone Management today at (905) 235-0841 and learn about how you can become a home owner.

Rent to Own: Home Ownership Made Easy

If you’re currently renting a house, town home or condo because you are having a hard time scrounging up enough of a down payment to put towards a house, or are having difficulty obtaining a traditional mortgage because you have bad credit, are self-employed, or for any other reason, you need to know that there are other options available to you to become a home owner. Renting to own is one such avenue to take if home ownership is your dream, but reaching that goal is challenging when trying to go about it the traditional way.

rent to own homes TorontoWith rent to own homes Toronto, you don’t have to have stellar credit to be approved for a mortgage. You don’t have to have a huge lump sum of money to gather as a down payment for a home – generally 5% or so. You don’t even have to depend on a bank to provide you with a mortgage loan to finance your home. Instead, a rent to own program allows you to become a home owner down the road – without those strict requirements.

Sandstone Management offers rent to own homes where you enter into a contract whereby your monthly payments, expiry date, and future purchase price are all stipulated. As you make your monthly payments on time and in full, your credit score gradually improves, and your equity to put towards a down payment for the home gradually increases! At the end of the term, you have the option to buy, with absolutely no obligation! If the price of your home has gone up significantly, you are covered since the price is determined at the beginning of the lease period. You could be earning equity before you even buy the home!

With Sandstone Management, you get to choose the home you want in the area of Greater Toronto where you want to live. They put you in touch with mortgage and real estate specialists who can sit down with you and help you figure out what you can comfortably afford in a home. They’ll help you find that perfect home that matches your price point, and work out all the fine details of the arrangement. All you need to do is have a good job, a deposit, and a dream of becoming a home owner!

Don’t let your financial history be a deterrent in your goal to achieve home owner status. Let Sandstone Management put you in touch with real estate and mortgage professionals to help you become a home owner much sooner than you ever thought possible! Their ‘homeowner in training’ program is a safe and fast way to become a home owner in Ontario.

Visit Sandstone Management today at http://www.sandstonemanagement.ca and finally realize your dreams of owning your very own home! For more information or to schedule an appointment, you can reach them at: (905) 235-0841.

Rent to Own – An Alternative Option for Home-Ownership

rent to own homes TorontoPurchase Your Dream Home in Toronto With a Rent to Own Program

To many Canadians, buying a home essentially means having enough money to use as a large down payment, and having a healthy credit history in order to get approved for a mortgage from a conventional lender. For those who don’t necessarily meet these requirements, renting seems to be the only option when it comes to acquiring living space to call home.

An alternative to the traditional means of purchasing a home is through a program referred to as “rent to own”. Such a plan is not new, but there are some great programs available. With rent to own homes Toronto, those with poor credit, less than 20% to use as a down payment, and the inability to secure a mortgage from a lender are given the opportunity to overcome these obstacles and still be able to buy a home that they can call their own.  If you have good income and at least 5% down, you will probably be able to qualify – despite a bad credit report.

Build Equity as You Rent!

Instead of paying a landlord rent every month that simply goes into the pockets of the owner, make your rent work for you. With a rent to own program, your rent is not thrown away. Instead, a portion of it actually goes towards building equity into the home that eventually can become all yours should you choose to purchase the home at the end of the contract agreement. As the price of the home after the lease period is agreed upon at the beginning, any rise in home prices above the set price is also to your benefit.

Repair Your Bad Credit

By making your monthly “rent” payments, you are being given the opportunity to slowly rebuild and repair your credit. With every payment made in full and on time each and every month, you are building a credit portfolio that shows your ability to make payments properly. Over the duration of the rent to own period, your credit can be repaired, making you eligible to secure a typical mortgage should all the requirements be met.

Depending on your particular financial situation, there may be no better way to attain home ownership than through opting for a rent to own home in Ontario. With the help of professionals like those at Sandstone Management, you can make your dreams of owning your very own home a reality. Consult with an expert from Sandstone Management today and discuss the benefits that a rent to own program can have for you!  Call (905) 235-0841 or (877) 311-7671.

Buy a Home with Bad Credit with Rent to Own Homes Toronto

Toronto rent to own homesFor most people, buying a home is the biggest and most important purchase they make in their entire lives. It takes commitment, responsibility, and a lot of money. In order to pay for these homes, home buyers usually need to attain a mortgage. Getting approval for a mortgage may not be that easy if you have bad credit or had negative financial situations in the past. Lenders will often want some sort of assurance that the money they are loaning towards a mortgage will be paid back with no default. This assurance comes in the form of good credit and reputable financial records. For those that find themselves in a poor credit situation, all hope is not lost. Rent to own homes programs with reputable companies are a way for people with bad credit to be able to finally own a home of their own.

Rent to Own Homes Ontario Contracts Explained

How exactly do rent to own home contracts work? Basically, a potential rent to own home buyer would pay a “rent”, but part of that monthly payment actually goes toward the equity or down payment of the home.  In addition, making payments on time every month helps to establish good credit. The contract will have a pre-determined length of time in duration, with an agreed upon price for the home. If the home buyer adheres to the terms and conditions of the contract, they have the option to buy the house at the pre-determined price at the end of the rent to own homes contract.

The price the rent to own home buyer pays is not affected by any fluctuations in the real estate market. The price of the home is pre-determined, and written into the contract. Even if the value of the home goes up by the end of the contract, the rent to own home buyer would only be obligated to pay the agreed upon price as stipulated in the contract.

Rent to own home buyers need to maintain their end of the bargain in order to remain qualified to purchase the home at the end of the rent to own homes in Toronto contract. First and foremost, the monthly payments must be made on time and in full each and every month. Any default in these payments would not be viewed favorably. These payments may be a bit more than the average rent, but it is important to keep in mind that part of these monthly payments is put towards the purchase of the home. This becomes somewhat of a forced savings program that ensures money is put towards the house on a regular basis.

In addition, proper care of the home is necessary. Any minor repairs should be dealt with by the rent to own home buyer, and no major alterations to the home should be made without consent.

Benefits to Rent to Own Contracts

The advantages to a Toronto rent to own homes are quite obvious. Those with bad credit are able to buy a home in Ontario that they may not have otherwise been able to do. Those who are unable to gather a large sum of money to put towards a down payment also have the advantage of a rent to own contract, since the down payment is slowly accumulated through portions of the monthly “rent” payments and 5% or so down.

Toronto real estate continues to be a good investment and a source of financial security for many Torontonians.  With all the diverse areas available — from the Lakeshore to North York, there is no shortage of great neighbourhoods.   Whether you are looking for a condo downtown, a town home or a house in the suburbs, Greater Toronto is the city more Canadians call home than any other.  Rent to own is a great way to enter the real estate market before prices go up further.  These rent to own homes contracts give people the opportunity to build equity in the home, and at the same time build up good credit and repair financial problems. These rent to own homes contracts give people the opportunity to build equity in the home, and at the same time build up good credit and repair financial problems.

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