Homebuyers

/Homebuyers
Homebuyers2018-07-30T12:01:30+00:00
coupledreamingofhome

Rent to Own a Home – We Can Put You in Your Own Home Today

We know life sometimes delivers challenges that can be hard to rebound from on your own. It could be a divorce, bankruptcy, consumer propospal, loss of job, work place injury, new to the country, self-employed or some credit related challenges that have you behind the proverbial “eight ball”? These challenges could be making it difficult to get a mortgage, but they don’t have to bind you to a lifetime of renting.  You can rent to own instead, our Rethink Renting Program is a very viable option for those that can’t get a mortgage today but are willing to work towards getting approved in the near future while living in their own home that they select. Homeownership is closer than you think.

So who can we help with Rent to Own?

Our Rethink Renting Program is designed to help families improve their financial standing and get them on the path to homeownership when the banks say “no” today.  Some of the situations we can help you with are:

Think it is too good to be true?

We are aware that there is lots of information about rent to own on the internet and believe that it is very important to do your due diligence on any purchase especially an investment like a house.  To help you navigate the rent to own world, we have dispelled the myths and discuss the good, the bad and the ugly about rent to own in the videos below:

Why Choose to Rent to Own

 

Why Rent to Own Works

 

Can anyone rent to own?

 

Overcoming Mortgage Madness

 

Here is the Criteria We Use to Qualify

Wondering what is required to qualify?  We list the main ingredients below that result in a successful rent to own:

So How Does Rent to Own a Home Work?

Below is the step by step process from start to finish. We are always available to answers any questions you might have.

  • Apply for our Rethink Renting Program by Applying Now.  If you would prefer to set up a call to start, please click here.   If you meet the initial requirements, we will set up a face-to-face consultation to discuss your situation, answer your preliminary questions (we require employment verification ie: employment letter to set up a consultation).
  • As part of the approval process, we will require you to provide documentation about your income and credit situation.  The required documents are employment letter, T4, two current paystubs and credit report.   Once you are approved for our Rethink Renting Program, we will determine your house budget and how much time you will need to repair your credit which will determine the length of your program. Our team will provide you with support throughout the whole process to ensure that you are on track.
  • With your budget in hand, we will set up with a licensed realtor to start looking at homes for rent to own in ontario that fit your needs and budget.  It is really important to find a house that you love.  When you have found a house, we will run all the numbers for your review and approval.  Once approved, we will get an investor from our network to purchase the house on your behalf.
  • Once purchased, we still have to have the home inspection. This is your cost. At the same time, you will receive the two necessary agreements, one being the Lease and the other being the Option to Purchase. The Option Agreement outlines the details for your purchase back from the investor at the end of the Rethink Renting Program
  • Now the home inspection has passed, the investor will firm up the offer and you will provide your down payment (deposit) to the investor. Now you begin packing.
  • Once the house closes, you will receive the keys and can move in!

I’M READY TO SEE IF I QUALIFY FOR RENT TO OWN

Understand your commitment in a rent to own

The Committment

  • Like a mortgage, rent to own is a commitment. You NEED to be prepared to work hard to improve your credit and meet your contractual obligations which include making your payments on time.
  • As you are considered the “owner”, you are responsible for maintenance and repairs on the property.
  • Utilities (water, gas, hydro, water tank etc.) are your responsibility so be sure to call the utility companies to open the accounts in your name before you move in.
  • Our advice is to avoid any major credit purchases unless advised to by a mortgage broker to aid in repairing your credit. This mean no cars for tosy.

No Hidden Fees

  • There are no fees to Clover Properties at all.
  • No hidden fees. Your down payment is 100% credited back to you when you buy the home at the end of the rent to own term.
  • You are responsible for the cost of the home inspection and will need to arrange through the realtor to pay this if you will not be able to be present at the home inspection.

Why choose Clover Properties

Why Choose Clover Properties

  • We actually care about helping you succeed.  We use licensed realtors to help you find the perfect house to match your budget and your needs.
  • No extra sitting or application fees. We give you the good, bad and ugly on rent to own for free.
  • We work with you to develop a property budget that fits your current situation. Work to live, don’t live to work.
  • Get the support you need to help repair your credit.
  • Free access to our knowledge and our team of experts.

 

I’M READY TO SEE IF I QUALIFY FOR RENT TO OWN

Over 130 Happy Homeowners, Let’s See What Some Have To Say?

We love our helping families get into homeownership and get ahead finacially by taking the leap away from being a renter!

Great response, great service and a great program. We are a year away from owning our rent to own outright and owe Clover for all their help in making it a reality for us!”
Alex and Brian, London,Ontario
They look out for your best interests and are very focused on making rent to own a win-win situation for everyone involved.
Jay, Mississauga, Ontario
When we were declined for a mortgage, we started researching other options and came across rent to own. Thanks to Clover Properties for taking a chance on my family just when we thought no one would and for making our dreams a reality.
Stacy and Tom, Oshawa, Ontario