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"Home is where the heart is and we are here to help you find a place to call home"

-Mike & Allie

What is a Rent-to-Own Program?

Rent-to-Own programs also known as a "Lease Option", look and feel a lot like a standard home sale; however, they are an alternative lending strategy to traditional home mortgage loans. Most of the Canadians who apply for a Rent-to-Own program are a lot like you and I; hardworking individuals, with good credit, and a steady income, but are just bound by the ever-changing strict lending rules and high interest rates from the Banks. 

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Our Rent-to-Own program will give you the chance to make your dream of becoming a homeowner into  reality.  We call it a short term "worry-free rental program"; and we will help you ease into the responsibilities and obligations that come with being a home owner. 

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You will essentially become a "home owner in training".  Meaning, you will take pride and have a sense of ownership in something to call yours in the near future.

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Will Rent-to-Own Work For Me?

Rent-to-Own programs, although, not for everyone, are quite attractive to individuals who fall under one or more of the following:

  • The Banks have denied your mortgage application

  • Small down payment

  • Self-employed

  • Bruised credit

  • Declared Bankruptcy 

  • Recently divorced

  • New to Canada

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  • You will no longer be paying down your Landlord's mortgage. 

  • The purchase price is set at the beginning of the agreement and the monthly payments are fixed for the lease term

  • Pet Friendly!

  • Home Ownership.  If you stay committed to the program, you will be able to purchase your dream home and raise your family in a neighborhood you love

How Will Rent-to-Own Benefit Me?
How do I Qualify?
How Does The Program Work?

  • First things first. We will start by asking you to fill out our initial client questionnaire/application. This will not only help us determine if you will be an appropriate candidate for our Rent-to-Own program; but to ensure that we are the right match for your needs.  If the initial requirements cannot be met right now, we will work with you, alongside our mortgage broker to create a task item plan; so you can work on achieving your goal of home ownership in the near future

  •  Creating a plan. After we have reviewed your application, we will analyze your current financial situation to formulate a customized plan; which will include determining the purchase price, monthly rental and option payments, and the initial option fee. All option payments are applied towards the purchase price 

  • The fun part. Once you have gone through the screening process and have been pre-qualified, we will send you on a house hunt with one of our real estate agents

  • Inspections. After you have found the home you love, we will have it inspected to ensure there are no surprises. Once home inspection is successful, we will purchase it and you can move in

  • Payment. You will make monthly "rental" and option payments. The additional option payments are credited towards the purchase price of your home. In the event, at the end of your lease, you cannot qualify for a mortgage on your own, or change your mind; you are not obligated to purchase the property.  However, all option money paid throughout the lease period is non-refundable.  Alternatively, if you decide you still want to purchase the property, you will apply for your own financing, exercise your option and purchase your home.

  • Accountability. Throughout the term of your lease, we will meet with you every 30 days, to ensure you are following your customized plan we created in the beginning.  This will be a crucial part in making sure you will have the ability to qualify for a mortgage on your own before the term of your lease is over.   

The Next Steps

If our Rent-to-Own Program sounds like it would be a right fit for you, then let's get started by filling out our "no-credit" check application and email to hello@ccpyyc.com. 

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Visit our FAQ page for a list of commonly asked questions.

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