Own A Home On Your Terms With Rent To Own Homes Scugog

Going through an unexpected life event? Do you have bad credit? Are you new to Canada? Suffered a recent bankruptcy? No down payment? Own a home even with these terms attached to your name. We’ll show you how.

Benefits

1. Low down payment: With just $10,000 or 3% of the purchase price* you can begin the process of finally owning your home. 20% of your monthly rent will be added to the Starting Down Payment to form your final Mortgage Down Payment. The Rent to Own Homes Scugog program is recognized by CMHC.
2. Lock in your house price: Secure your future purchase price today and worry not about increasing house prices. The price you settle at the end of the program is determined right at the start of the contract so you know how much you are going to pay, regardless of aggressive house market inflation rates.
3. Build equity: You can build your equity faster with your starting down payment and monthly option credits as compared to the first few years of a conventional mortgage.
4. Better credit: Improve your chances of qualifying for a lower mortgage rate from a traditional lender in 2-3 years while living in your new home.
5. Get fixed payments: Just as the house purchase price has been set, your monthly payments are also predetermined and does not increase anytime during the program.
6. Flexible programs: Credit is not a big factor for approval, we look at the bigger picture of your home ownership.
7. More choices: Be in control; look for and buy the house you want and not just one from the home listings the competitors give you.
8. Keep your options open: Find the right housing solution that works for you, whether it’s an early purchase option, a longer term, or ways to lower your monthly payments.
9. Improved security: We protect your interests with legally-binding agreements that you can have checked and evaluated by a lawyer.
10. Enjoy your homeowner benefits: paint walls, update the HVAC system, renovate bathrooms – the house is yours and all upgrades belong to you upon purchase.
11. Same lifestyle: Don’t be house-poor; get the education and assistance to create a lifestyle-conscious budget.
12. Move in right away: No advance rental payments AND no need to make a down payment until you have decided to buy the house.

HOW RENT TO OWN WORKS

Real Estate Stats: Scugog

Interesting real estate stats for the Scugog area:

…two neighborhoods in Scugog, Blackstock and Rural Scugog, have been included in the top 25 GTA neighborhoods to buy in for 2018 (source: Money Sense), which indicates that choosing to live in this area is definitely value for money (especially for the long term).

…average sold price is just above $700K but there is an upward trend so this may increase in the coming months (source: Zolo) and that said, the best time to buy is now!

Do you qualify?

There are only two minimum requirements to get started on the process of renting – and finally, owning – your own home.

1. An amount of $10,000 or greater depending upon the price of the property, which will be taken as to be part of your down payment when you are ready to buy.
2. A monthly rent of no less than $1,800.

What if you don’t qualify?

The Rent to Own Homes Scugog program is NOT credit driven and our clients generally fall into at least one of the categories below:

1. Power of sale (foreclosure)
2. Poor or no credit score
3. Self-employed and can’t show income
4. Property tax or income tax outstanding, tax liens
5. Collections, judgments or writs on bureau
6. Mortgage higher than the current market value due to market correction
7. Orphaned mortgage, current lenders not renewing
8. Need to go into a consumer proposal, bankruptcy or not fully discharged