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We want to congratulate you on taking the first step on getting into your own home fast! We welcome you to look around the site, check it out, and when you feel comfortable, just scroll down and fill out our Homeowner Prep Program application form.
If you’re feeling a little disappointed, a little hopeless when it comes to buying your own home, or if you’ve been turned down by mortgage companies or the banks before, you’ve come to the right place. At Ownership Solutions we specialize in helping deserving, local, Southern Ontario renters just like you get into a home of their own fast.
No Mortgage? No Problem!
Huge numbers of honest, hard working people here in Southern Ontario lack the near perfect credit that banks and mortgage companies require to buy a home. If you fit into this group, don’t be discouraged because there are still ways you can get into a home of your own today.
You Choose Your Dream Home – We’ll Buy It For You!
What if there was a way for you to choose your dream home today, and move in without having to come up with a huge amount for down payment and closing costs, or worry about rejection due to credit problems? Would you be interested? Of course you would!
How it Works
- Apply Online – Simply complete our simple (and completely confidential) online application form to help us qualify you for the maximum purchase price you can afford. You can fill out that form at the bottom of this page once you’re ready to get started.
- Get Pre-Approved – Once you apply online, we will review your application and issue a pre-approval within 48 hours. In many cases our online system will be able to automatically pre-approve your application.
- Complete the Approval Process – After your application is pre-approved we will need you to provide some basic documentation to verify your income and down payment. Once we have your documents back we will prepare your formal pre-approval to let you know the maximum purchase price and pricing based on the info you have provided to us. If you’d like to proceed there are a few more documents we’ll need and then we will complete your client interview.
- Go Shopping With a Realtor – The next step after we complete your approval process is that we’ll issue your commitment package and set you up with one of our Realtors. You then get to go shopping with this Realtor to choose your dream home within your pre-approved budget.
- Rent to Own – After you’ve selected the home for your Rent to Own program, we’ll buy it for you and rent it back to you for a period of 2-3 years. This gives you time to clean up your credit, build a higher down payment, establish a track record of income, or overcome whatever obstacle is preventing you from obtaining a traditional mortgage today. Don’t worry, we’ll help you with all of this.
- Become the Owner – At the end of your Rent to Own term you’ll qualify for a traditional mortgage and take title to the home to become the official homeowner.
|Requirements for HPP:
• Minimum $7,500 down payment for homes under $150,000 or 5% down payment for homes over $150,000
• Minimum $50,000 gross (before-tax) annual household income