(403) 980-4663
202-191 Edwards Way SW, Suite 101 Airdrie, Alberta T4B 3E2
info@peakhousingsolutions.ca

HOW IT WORKS

HOW CAN RENT-TO-OWN HELP me?

Our Rent-to-Own Program allows you to rent the home with the “Option to Purchase” it in the future.
The process can take 2-3 years depending on your individual financial circumstances.

1. YOUR ACTION PLAN

Our credit team develops an Action Plan with you, clearly outlining what you need to do for the bank to say YES to your future mortgage qualification.

2. PURCHASE OPTION

You are now “renting to own” the home with an option to purchase the property in the future.

3. DOWN PAYMENT

During that time two things are normally happening – saving your down payment and working on improving your credit.

Two contracts are involved:

1. Standard Rental Lease Contract

2. Option to Purchase Contract

  • We agree to the monthly rent, term, initial down payment and additional monies paid monthly called “Monthly Option Credits”.
  • An “Initial Deposit” is required before you move into the home.  100% of these funds will be applied towards the purchase price of your home.
  • Every month in addition to your rent, you pay an amount called a “Monthly Option Credit”. This amount is added to your initial down payment, and 100% of these payments accumulate towards your future bank down payment.
  • You can quickly accumulate a significant portion of your future down payment.
  • Make consistent and timely payments to exercise your “Option to Purchase”.
  • Our expert credit specialists will review your progress towards mortgage qualification to ensure that you remain on track.

CONGRATULATIONS!

By following these simple steps, you can be a Home Owner!