• Do you qualify? Our program is much less stringent than a bank, but we do have qualifications. You require a 15% down payment for the home you desire as well as associated costs such as Property Transfer Tax, legal fees, inspection and appraisal fees.  If an apartment, you would also be responsible for strata fees, property taxes and insurance. If the property is one in our inventory, the down payment required is reduced to 5%. If you believe you qualify… then
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  • Go out and find a home. Identify the area you want to live in and check out listings in your price range at www.realtor.ca or www.rew.com. Call us with the MLS listing , we will assess it and bring you in to discuss your situation.
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  • If the deal seems feasible, you pay a $2300 fee to cover Legal fees, a Property Appraisal and Inspection. If the Appraisal and Inspection go well, you deliver the down payment to us, we purchase the property and acquire a mortgage on your behalf. We retain title until the end of the term. You sign a Purchase agreement with a 3-5 year closing date, a separate Rental contract and an Option to Purchase. A portion of your monthly payment goes towards paying down the principal on the mortgage.​
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  • You are considered to be the owner when you move in, with all the rights and responsibilities of ownership. The 3-5 year term allows you time to remedy the        reasons a bank would not accept you, such as obtaining PR status, poor credit rating, lack of work history etc.
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  • On completion of the term the title is transferred to you. Your purchase price is locked in, so your original down payment, the principal portion paid down by your monthly payments and the increase in property value over the term are all yours, which gives you a large equity position that should allow you to transition to a bank mortgage.

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