Cobourg Rent-to-Own Opportunity

About the tenant-buyers:

Kendra and Jason are a devoted couple with four beautiful children under the age of nine. Their dream is simple: to create a stable haven for their family by turning their hard-earned rent into a home of their own. The urgency intensified when their landlord decided to sell, nudging them toward homeownership sooner than expected. They’ve saved up $17,000 for a down payment. Their four-year plan is to build up their credit and grow their down payment savings through our Rent-to-Own program.

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Income

Kendra is a Law Clerk at McBride and Shields. She’s been there full time since 2022 and contributes $46,800 annually to the household. Jason wears two hats – working for Canada Post and TTC. Since 2015 he has been employed as a Canada Post mail delivery person, earning $61,129 per year. He’s been employed by the TTC since 2022 as a bus driver, bringing in an additional $61,235 a year. In addition, this family receives $31,200 annually in child benefits. Their combined income stands at $200,364.

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Credit

Kendra’s current score is 597.  Jason is at 685. They’re ready to work closely with Clover Properties-approved mortgage professional to clear the path to mortgage readiness by 2028.

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Property

Their perfect starter home, nestled in the heart of Cobourg, boasts three bedrooms and two bathrooms. Ideal for their busy family life, it offers a spacious living area, partially finished basement, and a backyard for family fun. Close to schools, shopping, parks, transit, and highway 401 – it’s not just a house; it’s where Jason and Kendra will make memories with their kids.

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Next Steps

Now, here’s where you come in. If you can qualify for a $399,920 mortgage, you can be the catalyst for this couple’s dream to own their own home. Your estimated monthly cashflow is $984, creating a win-win scenario.

If you feel the call to be part of this heartwarming journey, take the next step by filling out the form below.

 

Deal Summary:

Term: 4 years

Purchase Price:  $499,900

Estimated Investment Required: $106,180

Estimate ROI: 25% (based on 6.04% and a 4-year deal)

Estimate Returns: $108,255

TB Down Payment: $17,000

Numbers Summary:

Rent-to-Own Monthly Payment: $4,128

Condo Fee: $0(tenants will pay this)

Monthly Cash Flow: $984

Future Purchase Price: $612,662 (after four-years)