Question 1

How does the program work?

Accepted Answer

Visit the PROGRAM page for a detailed description of how the program can work for you.

Question 2

How can I achieve home ownership in 5 steps?

Accepted Answer

Our 5 step process includes:
1) Apply and qualify
2) Work with your team
3) Home purchase and move in
4) Live, lease and lay aside
5) Home Ownership!

For more specific details on these steps, visit the HOME page.

Question 3

How do I qualify for the program?

Accepted Answer

First step is to fill out the application form on the APPLY page.

The base qualifications are that you:
1) are a Canadian resident,
2) earn an annual household income of at least $85,000, and
3) have at least $10,000 saved up for a down payment.

Question 4

How long is the program?

Accepted Answer

Most tenant buyers are prepared to purchase their home in 2-4 years, but your program will be designed to fit your budget.

Question 5

When does my program start?

Accepted Answer

As soon as you find out that you qualify for the program, you must pay a $1000 commitment deposit. This is to indicate your commitment to the program before your power team gets to work. This money goes towards your initial option amount, your "down payment" for the program.

Question 6

What is the $1000 commitment fee for?

Accepted Answer

This fee is to ensure that you are committed to the program before we send your power team to work. This money will go towards your future down payment.

Once you qualify for the program, this fee is nonrefundable if you change your mind.

If you do not qualify for the program, this fee will be returned to you in full.

Question 7

Do I need a home inspection?

Accepted Answer

Yes, all properties purchase for the Rent to Own program must be inspected prior to purchase.

As with home ownership, this cost must be covered by you.

Question 8

Who gets to choose my home?

Accepted Answer

You! With support from a realtor and a budget developed by you with your mortgage broker, you will choose a home that is right for you.

There are some criteria the house must fit in order to be approved by the Rent to Own program, which will be discussed with you prior to shopping. These criteria are set in your best interest, to ensure you choose a house that will increase in value and serve your family well.

Warning: our company will not get into bidding wars over properties or pay more than their value, so if your chosen house has multiple bids or is priced too high, you may need to choose another property.

Question 9

When do I make payments?

Accepted Answer

1) Your $1000 commitment fee is due after you qualify for the program, but before you meet your power team and the real work starts!
2) Your initial option payment (your "down payment" for the program) is due prior to placing an offer on your house.
3) Your rent and monthly option payments are due on the 1st of each month.

Question 10

What if I break the lease agreement and decide to leave the Rent to Own program?

Accepted Answer

Only a portion of the money you have paid for your initial and monthly option payments will be returned to you. The rest of the money will go towards any costs incurred, including if any maintenance is needed and to cover future mortgage payments while the house is vacant. All details will be outlined in the lease contract.

Rent will continue to be due on the 1st of the month until you vacate the property. A new lease contract may be needed.

Frequently Asked Questions