There are many benefits to taking part in the rent to own Edmonton program. Below we have laid out our 5 main benefits to getting enrolled in the rent to own Edmonton program today!
1) Stop paying wasted rent money to a landlord-
One of the biggest benefits of joining the rent to own Edmonton program is that you are no longer wasting your hard earned money paying off someone else’s mortgage. You are starting to build up equity and preparing for the future day when you will own your own home.
2) No Surprise’s at the end of the lease period-
The great thing about the rent to own Edmonton program is that you already know exactly how much you will be paying at the end of the lease period. This amount has already been set and agreed upon in your option agreement so there will be NO surprises or increases in your purchase price. Set your future purchase price from the start so you know exactly what your payment will be at the end of the lease period
3) A Lower initial deposit is required to get started-
A lot of people get into a rent to own because they don’t have enough of a down payment saved up to be able to go into a bank and qualify for a traditional mortgage. The great thing about a Rent to own deal is that you are able to get started towards becoming a home owner with a much lower deposit, and we will provide you a with a savings plan that will make sure that you reach the amount needed to qualify with a bank at the end of your lease period.
4) Great way for self-employed people, and business owners to get started on home ownership without satisfying banks on your proof of income-
A lot of self-employed people have a hard time qualify at a bank for a mortgage, especially if it is a newly started business. The reason for this is because most banks require two years of tax records running your business to prove to them that you make a good enough income to cover your payments. Obviously if you have only been in business for a year then this can be a huge roadblock in becoming a home owner. This is where a rent to own deal can come to rescue, because with most rent to own deals you don’t have to prove two years of income in order to qualify. This can give you the chance to become a home owner while you continue on working towards your business.
5) Qualify with Less than Perfect Credit
Let’s face it sometimes in life things happen that we can’t plan for, and sometimes these things can have a negative impact on our credit. The great thing about the rent to own Edmonton program is it is a great solution for people who have poor credit and need a little help and a little bit of time to rebuild and re-establish their credit up to a level that will allow them to qualify for a traditional mortgage with a bank. With the help of a credit specialist and a mortgage broker you will be able to dramatically improve your credit over the course of the lease period. Rent-to-own Edmonton provides significant assistance to their tenants when it is time to get the traditional mortgage. They have developed great relationships with mortgage lenders familiar with the rent-to-own markets.
These are just some of the benefits as to why going through rent to own edmonton can be a great resource to help you achieve your dream of being a homeowner. To take one step closer to realizing your dream of being a homeowner CLICK HERE to fill out an application.
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