» Rent-To-Own in Barrie, Innisfil & Simcoe County
Have you decided that you want to own your own home instead of renting? Have you been turned down for a mortgage by the bank because you have bruised credit or did not have enough of a down payment? Tired of paying your landlord premium rent and getting less than premium living conditions or service? Want to start paying yourself first? Didn’t know rent-to-own was an option for you?
If you have answered YES to all of these questions then Rent-To-Own is exactly what you are looking for! Fill out the form below and get started on the road to owning your own home!
Many people do not realize that they have other options besides renting or moving back in with your parents. Rent-to-own in Barrie or Innisfil is a very viable option for many people looking to get on the path to home ownership.
There are many important issues you should be aware of that affect you as a renter. Why on earth would you continue to lose thousands by throwing it away on rent when with Brian Fockler you could take a few minutes to discuss your specific needs so that you can stop renting and start owning. By taking the time to explore your home purchasing options, and learn about the ways you can afford to buy a home, think how prepared and relaxed you’ll be when you are ready to make this important step.
Alternative Home Financing Program
I have partnered with a local rent to own housing company to offer you solutions when your “bank” turns you down. Rent to own is becoming more popular as mortgage rules continue to tighten. When facilitated properly it can be an excellent alternative, however, not all rent to own transactions are alike. The term “Rent to Own” is thrown around heavily in the market place, yet the reality is, it is not governed, or monitored, like the mortgage broker , and bank lending world are. It is critical to your success that you work with the right professionals. One of the key factors for you to purchase your home in the future is your ability to obtain financing. If your credit is less then perfect and/or you lack the full down payment you may still qualify with us. Below notes some of our key criteria that you will need to meet to be considered. Income:
- Must be permanent, stable, provable.
- Typically a minimum gross household income of $70,000 or more is required.
- If you have zero consumer debt you will typically qualify for a purchase price today of four times your gross household income. If you have consumer debt it doesn’t mean that you can’t qualify, it simply means you may qualify for less. Down payment:
- You must have a minimum of 2.5% down. You will need to have a minimum of 5% down at the end of your term plus 1.5% for closing costs. We design your rent to own payments to meet this. Bankrupt/Consumer Proposal:
- You must be discharged from bankruptcy.
- Your proposal must be complete. (some exceptions may apply if you are a few months out) Credit:
- All credit scores/history will be considered.
- Cannot have outstanding debt collections, or must be able to payout prior to entering program. Monthly Payments:
- You must be able to afford your monthly rent payments and saving payments as set by our debt service ratios. (similar to how a bank would qualify you) Don’t let your dream of home ownership be deterred simply because your bank or mortgage broker said you do not qualify. You may be a perfect fit for this unique win-win program. Please contact me today to explore your options.