Peterborough Rent-to-Own Opportunity

About the tenant-buyers:

Stephanie and Eric are a  married couple with four kids (7, 11, 14 and 15).  They have been renting for the past few years and have watched as rents and house prices climbed in all the areas around them.  They saved for their down payment but need a little time to repair credit, and rather than wait for the perfect time to qualify for their own mortgage, they are looking at rent to own to help them get into homeownership today rather than risk getting priced out of the market by waiting.  They have saved $50,000 towards their down payment and will need 4 years to rebuild credit and become mortgage-ready.


The couple has a total household income of $131,701 . Stephanie works two jobs, one as a Massage Therapist where she earns $34,357 annually.  She has been an RMT for the past 5 years.  She also works for Lloyds Lunch Box as counter help.   She has been in this role since May 2023 and works 30 hours a week.  Stephanie earns $25,818 annually in this role.  Eric runs his own contracting business, E.H Contracting.  He has been in business 9 years and earns a take-home income around $40,000 a year.  They family also have child benefits for their kids in the amount of $31,526 a year.



Stephanie and Eric have decent credit but need time to improve his credit.  Stephanie has a score of 779 and Eric is 617. They have little to no debt as they have worked hard to pay down their debts and build their credit to this point.  They will be working with a Clover Properties-approved mortgage broker to become mortgage-ready.


Stephanie and Eric fell in love with a detached property in Peterborough, Ontario. This is a family-friendly community close to downtown and all the amenities that come with that, stores, shops, restaurants and schools.  The house has 3+1 bedrooms and 2-bathrooms.  This house has been completely updated and has a finished basement with in-law potential (2018), new windows (2021), new furnace and AC (2019) and remodelled kitchen (2023).  The family have chosen to move to Peterborough because of its affordability.  They are also excited that  Peterborough has a lot to offer for kids growing up there. It’s also a great city to grow up in and be able to attend college or university while the kids can still live at home.


Next Steps

If you can qualify for a $400,000 mortgage and want to enjoy $529 in cashflow each month, please click the button below to indicate your interest in helping Stephanie and Eric Rent-to-Own their own home.



Deal Summary:

Term: 4 years

Purchase Price:  $500,000

Estimated Investment Required: $73,200

Estimate ROI: 34% (based on 6.89% and a 4-year deal)

Estimate Returns: $100,283

TB Down Payment: $50,000

Numbers Summary:

Rent-to-Own Monthly Payment: $3,685

Condo Fee: $0 (tenants will pay this)

Monthly Cash Flow: $529

Future Purchase Price: $606,397 (after four-years)