Take Advantage Of Rent To Own West Island Programs
The west island of Montreal is a wonderful place to buy a home and settle your roots. There are many amenities that are perfect for any type of family, whether you are single or have kids to entertain. The cultural diversity is exciting, and the transportation in and out of the area is very convenient. If you are looking to move into this great area, but may not necessarily have the funds or proper credit history to buy property, perhaps a rent to own West Island option may be for you.
Rent to Own – Your Option for Home-Ownership
There are many Canadians who are hoping to own property some day, but may not necessarily have the money to put forth as a down payment, or may have bad credit that will leave them turned down for a mortgage by traditional lenders. Luckily, there is a program that will allow people in these situations to move into the home of their dreams that they will actually own one day.
Some rent to own programs, like those by Muxaro, allow homebuyers to enter into an agreement to choose a home right away, based on a financial review and determination of what they can comfortably afford. The purchasers pay rent on a monthly basis for an agreed upon amount of time, after which they will have the option to buy the property. These contracts will have an expiry date clearly stated, at which time the buyers have the option to purchase at an agreed upon price that will be stipulated in the contract. Usually a small deposit of 5% is required.
Rather than having to meet tough loan requirements for a traditional mortgage and come up with a large lump sum as a down payment, buyers can realize their dreams of owning their own home by taking advantage of rent to own programs such as these. Buyers should be aware that it is very important that they pay their "rent" on time every month, to help improve their credit score when it comes time to actually transfer title of the home to their name. Any increase in home prices during the rental period will be added equity for the person buying the home, since the price was already agreed upon.
Start building equity today and take advantage of a rent to own program in the West Island or other areas of Greater Montreal and Quebec.
Rent to Own – Your Option for Home-Ownership
There are many Canadians who are hoping to own property some day, but may not necessarily have the money to put forth as a down payment, or may have bad credit that will leave them turned down for a mortgage by traditional lenders. Luckily, there is a program that will allow people in these situations to move into the home of their dreams that they will actually own one day.
Some rent to own programs, like those by Muxaro, allow homebuyers to enter into an agreement to choose a home right away, based on a financial review and determination of what they can comfortably afford. The purchasers pay rent on a monthly basis for an agreed upon amount of time, after which they will have the option to buy the property. These contracts will have an expiry date clearly stated, at which time the buyers have the option to purchase at an agreed upon price that will be stipulated in the contract. Usually a small deposit of 5% is required.
Rather than having to meet tough loan requirements for a traditional mortgage and come up with a large lump sum as a down payment, buyers can realize their dreams of owning their own home by taking advantage of rent to own programs such as these. Buyers should be aware that it is very important that they pay their "rent" on time every month, to help improve their credit score when it comes time to actually transfer title of the home to their name. Any increase in home prices during the rental period will be added equity for the person buying the home, since the price was already agreed upon.
Start building equity today and take advantage of a rent to own program in the West Island or other areas of Greater Montreal and Quebec.