Rent to Own - Is it right for you?

Rent to Own -  Is it right for you? from Sorin Vaduva Real Estate

By: Sorin Vaduva Real Estate  08-03-2015
Keywords: commercial real estate, real estate listings, residential real estate

I have been doing rent to own deals since 2008 and have worked with many families in the Ottawa area to get them on the road to home ownership. Rent to own is a great program but not ideal for everyone. Is rent to own right for you? Credit Situation In order for banks and other financial institutions to give you a mortgage, you need a certain credit score. The score required depends on the programs that are available at each bank. This score is calculated by looking at a number of activities. These activities include payment activity, amount of debt, number of credit cards, number of loans. etc. If you have a lot of missed payments or too much debt this will give you a lower credit score. The other problem is that sometimes people never get a credit card or take out a loan. This creates a situation where you don’t have enough credit and as a result this also creates a low credit score. This is easier to repair than bad credit. Our Credit Management Program can help you through the process. No Down Payment The other problem why people can’t get a mortgage to buy a home is because they haven’t been able to save for the down payment. These days Banks are looking for a minimum down payment of 5% – 20% or more. There are some situations where no down payment is allowed but this is only available to people with a very high credit score. So you can continue to try to save for your down payment or you can start our Rent to Own program today and we will help you save your down payment with our Down Payment Savings Program. Special Situations There are many reasons why you are in this situation and have been refused by the bank. Perhaps you went through a divorce and had a lot of expenses as a result and your credit hasn’t had time to repair itself. Perhaps you suffered a job loss and now have a much better income but the banks want to see that income for several years. Seasonal workers or self-employed workers also have a more difficult time getting qualified because they can’t show a consistent income. Whatever the situation, we are not here to judge. We are here to help get you a home. Everyone deserves to own a home and should not be penalized for any hardships that they might have had in the past. Maybe We Can Help We have solutions for most people, no matter what the problems are. We also have a number of programs to assist you along the way. We have our Down Payment Savings Program that will help you save your down payment. We have our Credit Management Program that will help you repair your credit along the way. We also setup a Monthly Payment Plan that includes all the costs associated with home ownership.

Keywords: Barrhaven, Commercial Property, Commercial Property Sales, commercial real estate, Condo Sales, Condominium Sales, Condos And Homes For Sale, Detached Condominiums, detached condos, Detached Home Construction, Detached Homes, Estate Evaluations, Estate For Sale, estate homes, Estate Property, First Time Home Buyer Programs, First Time Home Buyers Grants, Home Evaluation, Home Improvement Tips, Home Listings, Home Loans, Home Sales, home seller, homes to let, House Plans, house sales, houses for rent, houses for sale, Listings Condos, Mls Listings, mortgage calculator, mortgage rates, New Homes, Property Listings, Property Mortgages, Property Sales, Real Estate Evaluations And Home Improvement Tips, real estate for sale, real estate listings, Real Estate Sales, Real Estate Site, Rent To Own, residential real estate, Residential Real Estate Listings, Residential Real Estate Sales, Tips On Selling, Townhome construction, Townhome Sales, Townhouse Construction, Townhouse Sales

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