From Rental Uncertainty to Long-Term Stability with Homeownership: Meet Alex and Priya

About the Homeowners

Alex and Priya are a hard-working couple in their mid-30s with two young children. After being asked to vacate their rental property twice in just two years so the landlords could move their own family members in, they knew something had to change. They had saved up $28,000 for a down payment and were determined to get into homeownership to create lasting stability for their kids.

Income

Alex is a certified HVAC technician earning $93,000 annually and has been with the same company for over five years. Priya works full-time as a licensed early childhood educator and brings in $59,000 per year. Both have stable, long-term employment and predictable income that made them strong candidates for the Rent-to-Own program.

Credit

Although they were financially responsible, Alex and Priya had a few dings on their credit reports—mostly from past student loans and a missed payment during parental leave. Their credit scores sat in the low 600s, just below what banks require for mortgage approval.

The Property

They found a cozy 3-bedroom detached home in Cambridge, Ontario, with a large backyard and finished basement—perfect for raising their kids. It was close to their workplaces and schools, in a quiet, family-friendly neighbourhood. The home was listed at $645,000, and with their down payment and strong income, it was well within their Rent-to-Own budget.

Next Steps

Now settled in their new home, Alex and Priya finally felt like they could finally breathe as they had more control over their living situation than they had in the previous two rentals. They were no longer at the mercy of a landlord’s decisions. Their Rent-to-Own plan gave them four years to prepare for their mortgage approval, during which a portion of each monthly payment helped grow their total down payment.  In 2023, they successfully completed their term and qualified for their own mortgage after having worked with Clover and the mortgage broker recommended by Clover.

Most importantly, their kids now have the security of knowing this is their home. No more surprise evictions. No more last-minute moves. Just a knowledge that they own this home and the freedom that comes with it.

“We didn’t want to keep telling our kids we had to move again. This gave us the chance to stop renting and start owning—with a plan. It’s the best decision we’ve made for our family.” – Priya

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