Rent to Own
A path to your dream home.
Oliver's Rent to Own program has been helping families achieve their homeownership dreams for over 12 years, alongside RTO-certified realtors like Derrick. The mission is simple: assist families in securing a place they can call home.
Who can benefit?
Rent to Own is designed for individuals and families who might find it challenging to obtain a mortgage through traditional means, such as banks. That includes:
- Those with a consumer proposal or bankruptcy history
- Individuals with poor payment records or excessive debt
- Self-employed professionals and new Canadians seeking a fresh start
- Divorced individuals and millennials facing a high cost of living
- Anyone with limited job history that doesn't meet the banks' requirements
Financial considerations
- Income requirements
- Depending on your location, a combined household income of $200,000+ (in the GTA) or $80,000+ (outside the GTA) is needed.
- Down payment
- A minimum of 5% of the purchase price is recommended, typically used as a deposit during the purchase offer process.
- Budgeting
- Aim for a purchase price of approximately 4 to 4.5× your household income as a maximum.
Ready to take the first step toward homeownership?
Contact Derrick today to learn whether Rent to Own fits your situation.
Contact Derrick Read the guide
This information is provided for general purposes only. Consumers are strongly encouraged to conduct their own due diligence and seek professional advice before entering any rent-to-own agreement.