Rent-To-Own A Home: How It Works

Our Rent-To-Own A Home Program has been developed to:

  • help people own their own home within a few short years
  • help people save their existing home and get back on their feet
The program itself is simple and effective: If you qualify, we will develop a personalized plan that will allow you to choose your own dream home, move in now, and then purchase the house at then end of your rental period.

Here are the steps involved in our Rent-to-Own A Home Program that will give you a good idea of how the program works and if it fits your goals and personal situation.
  1. Application and Discussion: The first step is to submit our Rent-To-Own Program Application, your credit reports and credit scores, and to discuss your personal situation with us. We will then review and consider your income, credit story, employment and debt coverage ratio to see if you qualify for our Rent-to-Own A Home Program.

  2. Approval: Once approved, we will enroll you in a personalized Credit Repair Program where you will receive a plan to help improve your credit (so that you qualify for a mortgage before the end of your rental term). We'll also introduce you to a Credit Repair Coach who will provide you with some personalized tips to help keep you on track.

  3. Lease Term, Lease Payments, Deposits and Option Credits: Here we discuss your lease term, the amount you can afford to spend on a new home, the amount of your deposit, what monthly lease payments you can afford and how much will be credited towards the purchase price at the end of your rental term.


    Analysis of your current credit history and score will determine how long your rental term needs to be. Our Professional Mortgage Broker and Credit Repair Coach will determine how long your rental term needs to be to allow you enough time to repair your credit and qualify for a conventional mortgage.

    As a general guideline, if your credit score is 560 or less you will most likely be enrolled in a three-year term. If you credit score is between 560 and 620, you may qualify for a two-year term.

  5. Review Rent-To-Own A Home Agreement & Future Purchase Price of Home: At this point we will review the agreement with you and provide you with a copy to review with your lawyer. The future purchase price is conservatively determined by analyzing the appreciation rate of the previous five years and the key drivers and market influencers of the real estate cycle in the region. The future purchase price needs to be calculated accurately to ensure that it matches the future appraisal value. If the house is appraised at a higher value than the future purchase price we set, you keep the difference!

  6. Find A Home: Time to search for your dream home! We put you in contact with one of our realtors in the city of your choice who will help you find the ideal home and location. Once successful, we will help arrange a professional home inspection (to make sure there are no hidden problems with the home and to uncover any issues prior to purchase).

  7. Seal the Deal!: Now that you've found the home of your dreams within budget, we will get together to sign the agreements, collect the deposit and submit the offer to purchase the home.

  8. You Move In! At this point, you get to move into your dream home!

  9. Quarterly Follow Ups: To make sure you are successful and able to purchase the home from us at the end of your rental term, your Credit Repair Coach will connect with you every few months to discuss your progress and make any necessary adjustments to your plan;

  10. You Purchase Your Home From Us: A few months prior to the end of your rental term we will contact you to review your purchase option and to put you in touch with a qualified mortgage broker who will help you get the best mortgage deal possible.
It's easier than you think to qualify for our Rent-to-Own A Home Program, and there is no obligation to applying and exploring the program further. Please complete and submit our confidential online application. We will contact you if you pre-qualify to discuss the program in more detail.