Hard-working Blue Collar Looking for Rent to Own Help

Michael is a hard-working single who has been renting for $2200 a month.  He recently found out that his landlord is going to sell so he decided to look to see what his option were.  As he looked around Durham, he realized that rents were much higher than he remembered so he decided to look into buying a house through the banks.  Unfortunately for Michael, he completed a bankruptcy in 2019 but did not have any support to repair his credit so his score is not where it needs to be to qualify for his own mortgage.  Armed with $15,000 down, Michael is looking to rent to own to help him get into homeownership where he can get the support and time needed to become mortgage ready.


Michael works for Gerdau Steel.  He has worked full-time as a Crane Hooker since 2016.  Michael earns an annual salary of $63,700.


Michael did not repair his credit after his bankruptcy was discharged in 2019.  He just didn’t know how on his own. As a result, he needs 4-years in the rent to own program to repair his credit.  He will work with a Clover-approved mortgage professional to ensure he is mortgage ready at the end of the 4-year term.


Michael found the perfect home for him in the hamlet of Springbrook, Ontario, located 25 minutes outside of Belleville.   Michael loves this house because it gives him a place outside the city that he can call his own, a place where he can see himself retiring.  This property has 2-bedrooms and 1-bath with updated steel roof and ice guards, newer septic system (replaced in 2011), newer furnace (2013) and a new electrical panel (200amp service).  Located 25 minutes from the 401 and Belleville, it has access for Michael to get the amenities and travel to work.

Next Steps

If you are able to qualify for a $251,920 mortgage, enjoy $633 cash each month and want to help Michael get into his own home, please click the button below to indicate your interest.

Investment Property Highlights

  • Your investment is $67,880
  • Estimated annual return on investment is 27% (based on a mortgage rate of 5.94 and 30 yr amortization –approximated)
  • Your estimated NET profit $74,568
  • Your NET monthly cash flow is approx. $633+ a month
  • Tenant-buyers have $15,000 for the down payment
  • Tenant-buyers have a household income of $63,700

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Investment Property Highlights

  • Purchase price is $314,900 (estimated purchase price))
  • Target closing date is 30 days
  • Tenant-buyer agrees to pay $2,555 monthly
  • Tenant-buyer will buy this house in 2026 for $397,707