Purchasing a home is one of the largest purchases you’ll make in your lifetime, in Ontario’s case, the sky is the limit with the current price of homes. Getting a mortgage can be tricky, especially if you’re a first-time home buyer. There are conditions to be met, fees and plus the headache of the impending move. Let’s fast forward; You found your dream home and for certain reasons such as not having enough funds for down payment or because your credit score was too low, you decided to embark on the Rent to Own path. Through Rent to Own, you could become a homeowner within a reasonable time frame and secure a home at a fixed purchase price to purchase 3 years from today. What this means is you’ve beat the market by securing a home at a great fixed price as opposed to the actual value 3 years from now; despite your lack of down payment or your low credit score

At Rent to Own Today, the moment you sign the rent to own agreement, we get you in touch with a Mortgage Broker that will work with you to re-store your credit and help you get the best mortgage to suit your needs. Depending upon your situation, the Mortgage broker will meet with you every 6 months or on an annual basis and reassess your situation. This added bonus is optional.

If a low credit score or a lack of credit history were the reason behind your decision to Rent to Own, our Mortgage broker will work with you to help you increase both aspects of your credit. By the time your Rent to Own lease is finished and you are ready to purchase your home, your credit report will be new and improved, helping you put your best foot forward when applying for a mortgage.

Choosing the right type of Mortgage loan is one of the most important decisions you’ll make in the home buying process, which is why it’s great to have a trusted Mortgage Professional, who is a Rent To Own expert guiding you through the process from start to finish. With a Mortgage expert by your side, you’re already halfway there!

There are a lot of factors involved in a mortgage that is important for our Mortgage Broker to know in order to find a product that is tailored just for you; your priority in a mortgage may be low payments, the term, the interest rate: fixed vs. variable, the amortization and so on. It’s very important to convey this to your Mortgage Broker prior to the end of your lease to explore financial solutions which will benefit you.

With that said, Congratulations! If you are currently in our Rent to Own Program and applying for a mortgage, your lease has just ended and you are one step closer to becoming a homeowner.