Our Rent to Own Homes Program
If you dream of home ownership but still pay rent every month, then you need to check out Red Door’s rent to own homes program. We bring together investors and people who may not be able to qualify for a traditional mortgage due to poor credit, self-employment, a low down payment or other reasons.
We Make It Easy!
Our rent to own program is an alternative for buyers who don’t have the mortgage credit score or money saved to buy a home. You can by-pass the complicated process and difficult qualifications required by mortgage lenders and get into your own home sooner than you thought possible.
5 Easy Steps to Home Ownership
The program is easier than you may have thought with Red Door Home Solutions.
- You call or fill out the contact form and a friendly home expert from Red Door will contact you.
- You provide some documents (credit report, proof of income, etc.) for us to review. Remember – we specialize in helping people with bruised credit. Even if the banks turned you down, you could qualify for the rent to own program.
- Once you enter the program, you are given a budget and shop for a home in your area with the help of one of our real estate experts. When you find a home within your budget, our team will make sure it is a fair market value, structurally sound, etc. to avoid first time home buyer mistakes and with future appreciation of the property in mind.
- You can move in right way, decorate and even make improvements or upgrades. You pay a deposit and monthly lease payments. Part of each lease payment is a forced savings for you – that will go towards your down payment when you are ready to buy the home. Your rent payment will be set for a specific length of time (usually 3 years) and will not increase. If you have bad credit, you can use this lease period to improve your credit score with our mortgage experts.
- At the end of your lease period, you can buy the home for a pre-set amount. Any appreciation in the price of the home above that amount is yours – so you can earn equity before you even own the home! You will have a down payment saved (deposit + portion of monthly payment) and an improved credit score to help you get a good rate mortgage.
So stop making your landlord rich and call Red Door Home Solutions today – or fill out our contact form to get started on the path to home ownership in Ontario!