Can’t qualify for a mortgage?
You can still move into your new home in just a few weeks!
🔴 Are you tired of renting?
🔴 Are you ready to own a house but something is standing between you and your dream of home ownership?
🔴 Would you like to live in the beautiful city of Hamilton, Ontario?
If you answered “Yes” to the questions above then we may be able to help you!
Welcome to Hamilton Rent to Own Homes!
Our rent-to-own program is designed to help people who can afford monthly expenses that come with a home ownership but for various reasons can’t qualify for home purchase financing.
An incomplete list of challenges and obstacles that may prevent you from becoming a home owner includes:
🔴 Not having enough money for a downpayment
🔴 Being newly or self employed
🔴 A compromised credit history
🔴 Being new to the country
🔴 Going through a divorce
To make the situation worse for those who have to postpone buying a home, real estate prices go up much faster than wages can keep up. This makes it extremely difficult to save for a downpayment, since the amount you need to save always goes up. Needless to say, the amount of money you need to borrow from a bank to afford your house goes up as well making it harder and harder for you to qualify for a mortgage with each year.
If you want to buy a house but can’t see a way how you can get a mortgage any time soon then our Rent to Own Program may be just what you were looking for!
How Our Rent to Own Program Can Help You
The Hamilton Rent to Own Homes program offers a creative solution to the situation you are currently in. It allows you to move into your dream home immediately and, practically speaking, “own” it long before you are able to qualify for a mortgage.
How it works is that we buy your house for you and you move in as a “tenant-buyer”. You have a guaranteed option to buy the house later. Your monthly payments are designed to be equal or less than what you would normally pay in rent plus what you would need to be saving for a downpayment. We usually offer you different payment programs to choose from.
There is very little price difference between renting now and saving money to buy a house in a few years, and buying a home with us today through the Hamilton Rent to Own Homes program. There is a big difference though for your lifestyle.
You’ll be able to move in your new home immediately!
The main benefit of a rent to own program is that you get to live in your home today instead of waiting several years.
You will have the time you need to repair any credit issues you may have, stabilize your job situation, finalize you divorce, or address any other issues that prevent you from obtaining conventional financing now. Our rent to own program also makes it easier for you to save money for a downpayment.
We’ll help to make sure you can qualify for a mortgage soon
When you work with Hamilton Rent to Own Homes we do not leave you alone to figure out how to repair your ability to qualify for a mortgage. As a member of our rent to own program your will have free access to our exclusive credit counselling program.
If you choose to take advantage of the credit counselling program we connect you to your personal credit adviser who will work with you on improving your credit situation in the eyes of mortgage lenders. You will learn how to strategically develop your credit history in a way that will allow you to qualify for home financing.
From experience we know that it takes most people 2.5 to 4 years to fix their credit situation. Given that you follow the advice of your credit counselor, in 3-4 years you will be able to qualify for a mortgage and take full formal ownership of your home.
How to Get Started with Your Rent-to-Own Program
There are two ways we can help you move into your new home:
Option 1: Move into a Home That’s Already Available
From time to time, we acquire a property that stands out – a rare find in its price range with features we know many families are looking for.
If you’re considering rent-to-own, you can start by checking whether we have a home available right now:
If the home suits your needs, simply fill out our online contact form and we’ll be in touch to schedule a viewing and answer any questions. After the viewing, you’ll get a detailed breakdown of the rent-to-own program available for that home.
In the event that the property isn’t a fit – or has already been matched with another family – you can move ahead with a custom home search.
Option 2: Start a Custom Home Search
This is the most common path for our clients. We begin by understanding your goals – including location, price range, and key features. Together, we’ll build a rent-to-own program that works for your situation.
Once you’re approved, you can start shopping for your ideal home with our experienced real estate agent. When you find the right property, we purchase it and you move in as a “tenant-buyer” under the terms we’ve agreed on.
You’ll live in your home while you work toward mortgage qualification – with the support of your assigned program coordinator and the confidence of knowing your future home is already yours to grow into.
We look forward to giving you the keys for your new home!
Whether you’re starting with a current listing or going the custom route, we’re here to guide you every step of the way.
