Let’s work together, using our Family First Strategy, and help you more easily achieve home ownership and stop renting. Together we will design a solution suited to your particular circumstances.
Brantford Rent to Own – Case Study
In 2014, a couple came to us; they really wanted to have their own home and get off the rental treadmill. Although they had secure employment and good income, there were a couple of serious challenges:
- A very low credit rating
- Not quite enough funds for a down payment.
Like most people, no one had ever provided them with any suggestions on how to improve their credit, or on better ways to manage their money.
One of our team met with the couple on a few occasions over the course of a year; they were provided guidance on:
a) how credit scores are calculated;
b) how spending and payment behaviors impact the score;
c) what steps they could take to improve their score; and
d) suggestions on accumulating additional savings toward a down payment.
The couple took the advice seriously and took action. In a little more than one year, they achieved their goals:
1. Increased their savings to meet the required down payment.
2. Improved their credit score to a level that will easily qualify them for conventional mortgage financing within a couple of years.
3. Chose, and have moved into a home they could afford that meets their needs, in a growing Brantford community.
This family is now building solid equity into their own home. In a couple of years, upon qualifying for their own mortgage, title to the home will be transferred to them.