Rent To Own Vancouver Island
The Rent-to-Own program is for people who, for whatever reason have to rebuild their credit. To qualify for this program, a down payment is required. The purchaser will rent at a set price for a pre-agreed time. A portion of every monthly rent payment is credited toward the purchase.
The buyer is also given advice on how to rebuild his or her credit to qualify for a mortgage after the term expires.
Good Credit Not a Requirement
Life can be tough. We understand that sometimes, life gets away on us and we spend outside our ability to repay. But we believe those experiences should not stop a hard worker from owning a home. If that is your story and you are willing to change your spending habits, we can come up with successful tools to help you rebuild your credit. All you need to qualify for the Rent to 0wn program is a steady income and a minimum down payment.
Down Payment Is a Requirement
Not everyone has the ability to save the large down payment most banks require. You may have equity tied up in a small business or in other investments. But with as little as $5,000 down Worthy Real Estate Investments will hold a property for 1-5 years for you. This down payment is security that you are a serious home buyer.
Pay Down the Principle Faster
The Rent to Own program takes anywhere from 10% to 25% of your monthly payments as well as your downpayment as a credit toward your purchase price. This will go directly against the principle, not the interest. Compare that to a bank loan, where you are spending years paying off the interest before you ever touch the principle
Customized Home Ownership Plans.
For all our purchase programs we require that you meet with one of our recommended licensed mortgage brokers to put you into the best possible home ownership plan. Mortgage brokers assess your financial situation and determine the price range of a home you should purchase, your maximum monthly payment and so much more. The best part about a mortgage broker is that you do not pay them for this service. The loaning agency pays them a finder's fee.