Rent to Own Blog

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30 04, 2018

How the Stress Test is Impacting Millenials

By |2018-04-30T11:26:03-04:00April 30th, 2018|Stress Test|0 Comments

The home-purchasing power of ‘peak millennials’ aged 25-31 has diminished by around $40,103 (16.5%) since the introduction of the OSFI stress test at the start of 2018. A report from Royal Le Page calculates that nationwide, a peak millennial with a median salary of $38,148 has a maximum homebuying budget of $203,246. This includes a [...]

6 04, 2018

What is Canada’s Benchmark Rate?

By |2018-04-06T17:51:32-04:00April 6th, 2018|Benchmark Rate|0 Comments

The Benchmark Rate The benchmark rate is a rate that lenders are required to use to qualify mortgage borrowers in Canada who want a variable rate mortgage or a mortgage term of less than 5 years. The benchmark rate made headlines in the early part of 2010 when the Government of Canada announced new rules for lending [...]

7 02, 2018

Rent vs Home Ownership (Rent to Own)

By |2018-02-07T12:38:54-04:00February 7th, 2018|Uncategorized|0 Comments

Shelter is one of the most basic of necessities. In general, people can either rent, buy or rent to own a place to live. Home ownership is often idealized, but it is not without its own pros and cons. Because financial situations vary from one person to the next, owning a home may be ideal [...]

7 12, 2017

Debt Management – How it Affects Your Credit Score

By |2017-12-07T13:23:00-04:00December 7th, 2017|Credit, Credit Cards, Credit History, Credit Repair, Credit Report, credit score, Debt, Debt Consolidation|0 Comments

Everyone and their mother in credit repair will preach to you that paying down or paying off your credit cards is a good idea (keeps interest lower and helps improve/maintain your good credit standing) BUT did you know that you shouldn't close credit card accounts once they are paid down? Paying off credit cards is [...]

27 04, 2017

Rent to Own: Is it Right for You?

By |2018-02-06T11:19:57-04:00April 27th, 2017|rent-to-own, Uncategorized|4 Comments

Believe it or not, the term rent to own is becoming more and more mainstream in today's real world.  It is becoming harder and harder for a big chunk of our population to qualify for their own mortgages even if they have already decided they want to own versus renting.  Why?  Simply put, sometimes bad [...]