Normally you need a down payment and a decent credit to buy a home. Everything depends from your credit rating. It is advisable to check your credit rating yourself by contacting Equifax or Trans Union. If you have two pieces of ID, you can go to the local offices and get your report for FREE.
The normal down payment is 5- 10% of the sales price. But if your credit rating is good enough ( 650 or better ) we can get you financing even without down payment. In this case your monthly payment would be only around 650 Dollars per month! On the other side, as more down payment you can come up with, as lower your monthly payment will be. That is in most cases even cheaper than renting.
If you are a first time home buyer and you are un-experienced with the buying process, feel free to call me anytime. The cost involved with the purchase of any property are
1.5 % of the sales prices plus, depending the lawyer, 500 - 1,500 legal cost. You will receive a so called warranty deed.
If you consider that every penny you pay for rent is 100% lost money!.
Rent to own program: If your credit rating is screwed up, but you have not declared bankruptcy or a consumer proposal, you can be eligible for a rent to own program. For this you need at least some money down and you must have a good income. It should exceed $ 30,000 per year.
Feel free to contact me any time to discuss the different options of financing.