The Program

More than 50% of want-to-be home owners are unable to qualify for a mortgage.  The strict and protective lending policies of the banking industry have left many feeling the dream of home ownership is unattainable.  That has left renting as the only alternative to acquiring a residence.  We at SimpleHousing.ca see this only as a temporary roadblock and we offer a new and viable alternative: Rent-to-Own.

What is Rent-to-Own?

A Rent-to-Own purchase is a standard Residential Lease Agreement coupled with a second document known as an Option to Purchase Agreement.  This gives the signer the right to purchase the property at a pre-determined future date.  The purchase price is established at the onset of the lease term and is guaranteed with an "Option Deposit" paid by the Tenant/Buyer.  The Tenant/Buyer also pays a premium monthly rent, which includes Monthly Option Credits.  These Option Credits and the Option Deposit are ultimately combined and credited towards the purchase price when the Tenant/Buyer exercises the option to purchase at the expiry of the lease agreement.

The Ideal Rent-to-Own Candidate

• Going through or recently divorced.
• Has a low credit score.
• Has been through a bankruptcy.
• Has a good income but needs to establish good credit history.
• Are self-employed or a small business owner.

Advantages of Rent-to-Own

• Fast Equity Growth: A portion of each monthly lease payment is credited towards the purchase price.  These Lease Option Credits not only help build substantial equity very quickly, but conventional lenders will also accept them as part of the future down payment that accompanies a mortgage application.
• Quick Possession: Depending on the individual situation, the process of qualifying for a mortgage can, literally, take years to occur.  However, the SimpleHousing.ca plan allows for an immediate possession once the Option to Purchase Agreement is signed.
• Credit Restoration: During the term of the program, the Tenant/Buyer is involved in a proactive plan of action with the in-house mortgage broker to improve your credit score.  When the Option to Purchase then comes due, the client's improved credit score allows for a smooth transition from the Lease Agreement phase to the Option to Purchase.  And the dream of home ownership is suddenly a reality.
• Home Appreciation: The Tenant/Buyer benefits from any home improvements made to the property during the leasing period in the form of increased value since the purchase price is "locked in".
• Guaranteed Purchase Price: The purchase price of the home - established at the onset of the lease agreement - is a conservative but realistic, professional estimate based on the future value of the property.

Select Your Own Home

SimpleHousing.ca is different from other companies that have offered traditional Rent-to-Own programs.  Whereas they limit the selection of properties to only those available on their websites, SimpleHousing.ca opens the selection to all properties currently listed on the Multiple Listing Service!  Yes, it sounds too good to be true, but the reality is clients are free to select the house of their choice and buy it later under the Option to Purchase Agreement when mortgage qualification is secured.  SimpleHousing.ca offers a quick and easy program that potentially qualifies buyers who are then free to venture forth and go house hunting on the open market.

How is this possible? SimpleHousing.ca has a solid group of investors looking to purchase single-family homes on behalf of the Tenant/Buyer.  Clients are initially evaluated to establish an affordability ceiling, the in-house Realtor then makes contact and the dream of home ownership begins.  Once a home is chosen, one of the investors purchases the property, the Lease and Option to Purchase Agreements are signed and the home ownership dream is on its way to becoming a reality!

Stop Wasting Money Paying Rent...

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