Are you a first time home buyer in Canada?
How to get into the market with rent to own houses
Getting into the real estate game can be a tricky move for a first time home buyer. In Canada, you typically need a fairly hefty down payment before you can even think about buying.
But what if there were first time home buyer programs that allowed you to buy without needing to have a huge chunk of cash ready? Or, even programs that were targeted for a first time home buyer with bad credit?
We’ve got great news for you – there are first time home buyer programs just like that and you’re in the right place!
Did you know that with as little as $5000 (or maybe even less!), you can be on your way to owning your very own home. Don’t think it’s possible? Keep reading!
In real estate, there’s a great option available for people who haven’t quite got enough money ready for a typical down payment – Rent to Own Houses.
Rent to own houses are a great option for first time home buying in Canada.
Here’s how it works:
- You and the seller agree to contract stating a set period of time, typically 3 to 5 years, where you will live in the home, caring for it as if you already own it.
- Prior to moving in, as the buyer of the home, you put a “deposit” on the home.
- During the time you live in the home, you make monthly payments, much like rent. However, a portion of each payment is automatically saved to go towards your purchase of the home at the end of your contract.
- At the end of your contract term, you have the option to purchase the home you’ve been living in.
Read the FAQs to learn more about rent to own home contracts!
Now, if you’re a first time home buyer with bad credit, rent to own houses open up a huge window of possibilities. Not only can you be on your way to owning your own rent to own house, but our financial specialist will also work with you to improve your credit and your entire financial outlook!
First time home buying doesn’t have to be a scary process. If you’re a first time home buyer in Canada, application to the rent to own houses program is completely free, even to first time home buyers with bad credit!
Apply for free today!
There are plenty of rent to own houses that are already available. With our first time home buyer programs, you can choose to buy one of our already listed rent to own houses, or you can find your own!
Check out our rent to own homes listings now!
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