Sarnia Rent To Own Program....What is it? How does it work? APPLICATION FORM BELOW
Apart from your traditional way to buy property, there is another good way to buy a home through a rent to own program. Capital 3 Real Estate is here to find a solution for any of your real estate needs. Capital 3 Inc. has helped over 35 families in the Sarnia area through our very successful Rent to Own program.
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A small downpayment is needed for this program.
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Application process questionnaire between Capital 3 Inc. and potential buyer (YOU).
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Meeting with our broker to discuss your credit history and work on a mortgage number.
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Find a house to buy if we do not have one for you. Let Capital 3 Inc. know details on the home and we will take care of the purchase.
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Depending on your application and broker meeting we would decide on a 1, 2 or 3 year lease term. Roughly the time it would take to either build your downpayment or to work on your credit issues.
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You would make regular monthly rent payments to the buyer (Capital 3 Inc. or another one of our trusted investors - predetermined and in contract)
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Six months prior to the end of the lease we go back to our broker to obtain your mortgage.
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We also work with you to add to your downpayment that you have already handed to us. We take a monthly consideration fee which is a savings plan that will go towards and be added to your current downpayment on the home.
In a rent-to-own agreement, after execution of agreement, buyers move into a new house immediately. The buyer pays rent payments regularly to Capital 3 Inc. during the term of the lease but can purchase the home at a predetermined price before the lease contract terminates. The seller of the home normally receives an upfront deposit to lock in the purchase option.
Capital 3 Inc. will provide complete information about our Sarnia Rent to Own program to the people who have some problems with the credit eligibility. If you want to be eligible for this Rent to Own program, there are certain conditions which you have to fulfill.
As you know sometimes people go for traditional home purchase procedure wherein an offer is accepted. Final cost of the house is settled by the buyer and seller mutually. So according to the mutually settled cost and after finalization of the transaction, the property and its title is changed. In this case, buyers of the properties opt for mortgage to finance the bulk amount of purchase.
When you do not qualify for the traditional mortgage due to....
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Little money for a down payment
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bad credit history
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bankruptcy
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foreclosure, etc.
We are here to help!
CALL, EMAIL OR TEXT TODAY
519-381-2885