Tenant-owners can save by locking in a purchase price
When self-employed couple Amanda Core and Brad Robinson couldn’t get a mortgage, they decided to begin the qualification process while renting-to-own their house in Sault Ste. Marie house.In 2020, Amanda Core and Brad Robinson made a huge life change. Presented with the opportunity to run a First Nations eco-tourism business, they relocated with two of their children from Thunder Bay to Sault Ste. Marie.
The couple submitted financial documents to the company, which quickly ascertained their ability to afford its rent-to-own program. A three-year contract was presented, which detailed ways Requity would purchase the home, and eventually, the couple would buy it back. Last December, the company, which operates in Northern Ontario, Manitoba, Saskatchewan and Alberta, secured $26-million in seed funding.
“They are 100-per-cent financially capable of affording a home, but the current mortgage underwriting system just doesn’t recognize them that way,” says Ms. Ding I can’t change the mortgage underwriting system, but I can give you a different way to access home ownership.”Yet Requity helps clients save by locking in their purchase price.
Adveditorial Rent-To-Own Home Ownership Requity Homes CAROP Mortgage Underwriting Cent Company Requity Payment Home Couple People
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