Smart Couple Looking for a Home of Their Own
Jordan and Brittney are a young couple who are very forward thinking about creating a better financial life for themselves. The couple bought a duplex in Barrie and rented out the lower half to boost them financially. They have a plan to rent out both units and planned to move into their own detached home but need a little time to get the duplex fully rented and a couple of years to show the income from those units. They have good employment and have saved $30,000 towards their own mortgage on a detached home in Barrie.
Jordan and Brittney both work full time. They have a household income of $196,800. Jordan is a Senior Financial Analyst for the Bank of Montreal. He has been in this role since 2019 and earns $92,400 annually. Brittney is a hair-dresser and started her own business in 2021. She earned $66,000 in 2021. On top of their employment, the couple earn $1600 a month on the current rental unit and expect a minimum of $1600 when they move out and rent out their unit for a total of $38,400 in rental income annually.
Jordan and Brittney both have good credit. Jordan has a score of 821. Brittney has a score of 701. Jordan has the mortgage for the rental duplex under his name and needs time to establish the rental income for the entire building. The couple will work with a Clover approved mortgage broker to ensure they qualify and exit the Rent-to-Own at the end of four-years.
The couple found a great home in Barrie. This corner-lot is located in the South end of Barrie. 2+2 bedrooms and 3 baths, this house has been fully renovated and has a fully finished basement. Well-maintained, the roof has been recently replaced (2020) and has all new appliances. Located close to the 400, there are many options for transportation and the house is very close to shopping, schools, parks and other amenities.
If you are able to qualify for a $639,200 mortgage and want to enjoy $1400 a month in cash flow on a four-year term to help Jordan and Britten create stability for their family, please click the button below to indicate your interest.