Buyers
Move into your NEW home Today
while you build your credit and save the down payment to buy it!
Why do a Rent-to-Own?
Watch Kyle and Dave show you the benefits of the KD Properties Rent-to-Own program
We Help People That:
Have Steady Income But Need More Time to Qualify for a Mortgage
People who are self-employted or at a new job might need more time before the banks will consider their income stable.
Have Damaged Credit and Are Working to Repair It
If you have damaged credit or limited credit history that’s okay! Business bankruptcy, divorce, consumer proposal – these are all reasons why someone may have poor credit. But we will work with you, and if your credit can be repaired in 2-4 years we can get you into your home today while you fix it!
Are Saving Their Down Payment but Aren't Quite There Yet
It’s hard to save in today’s society! Sometime people are working hard towards their down payment but aren’t making much progress. KD Properties Rent-to-Own program has a built-in savings program that will get you across the finish line.
Are Waiting for Their Permanent Resident Status
If you are awaiting your Permanent Residence status but have good employment, we can help get you into your house today!
Register Now
Be the first to know about new properties in our program and find out how our program can help you!
How the Rent-to-Own Process Works for Buyers
#1
Register Online
Complete the online registration form
#2
House Viewing
Check our listings pages for available houses. When you see one you like – book a viewing.
#3
Apply
When you find the house you love – Apply for the house.
#4
Mortgage/Credit Review
We assess your situation to see if you meet the requirements for your selected house.
#5
The Paperwork
After your approval, we review and sign contracts.
#6
Rental Period
Move into your house TODAY and rent while you work your way towards a mortgage.
#7
Home Ownership
You did it!! You will obtain a mortgage and switch from renting to Owning
FAQ
Rent-to-Own
Why is Rent-to-Own right for me?
Do you want to rent for the rest of your life? Can you qualify for a bank mortgage right now? If not – that’s ok! Our program is designed for people like you with good income who have hit a snag in life – be it credit issues, problems saving for the down payment – or both.
The Rent-to-own program lets you get into your future home today! We work with you to establish a plan that will allow you to qualify for a mortgage in 2-4 years. During that time you will rent your home while repairing credit and/or building up the down payment. At the end of the rental term you switch from paying rent to paying the mortgage. And here’s the best part – you now own the home you have been living in and caring for the past few years, usually with the same monthly payment!
How much is Rent? Does it all go towards the purchase price?
The monthly payment for a Rent-To-Own consists of 2 parts: 1) Rent and 2) Built-in savings plan.
Rent is paid every month, just the same as a normal rental property. The monthly rent will be based on market rents for similiar houses in the area. Rent does not go towards the purchase price.
The savings plan contribution is calculated so that you will have enough for the down payment plus closing costs in order to qualify for a mortgage at the end of the rental term. The savings plan contributions will be put towards the purchase price when you complete the purchase.
Can I choose my own home?
We have a list of available homes on our listings page that you can choose from.
We are always bringing new homes into our program – so when you see a home you like to be sure to book a viewing or contact us to let us know you are interested!
From time to time we open limited spots in our “Pre-Qualified Buyer” program where you get to go out with a Realtor to pick your own home.
No matter what program you are in, we want you to be in love with your new home!
How much of a deposit do I need?
For the standard program, the minimum deposit is $5,000.
For our special “Pre-Qualified Buyer” program, the minimum deposit is $10,000.
What if I don't buy the house at the end of the rental term?
To comply with CMHC regulations, the intial deposit you provide will be refunded, less any costs incurred in repairing the property and reselling it. It sounds serious – and it is. We work very diligently to select people who are serious about home ownership for the program. We also have a thorough application process to select people that will qualify for a mortgage at the end of the term if the credit repair and savings plan is followed. Our goal is for every Rent-to-Own to end with a successful purchase.
Can I paint and decorate?
Yes! You can paint and renovate your home once your renovation plans are approved.