Frequently Asked Questions About Rent to Own Homes

1. Find Your Home Now
2. Move In
3. Save & Build Your Finances
4. Become A Homeowner

If you have a household income of 100,000+ and a 3% minimum down payment in savings, we’re ready to find you your home. Combined with our financing and real estate expertise, we’ll guide you through the process and help you move into your new home in record time.

The JAAG Rent to Home Solution allows you to move into your own home, even before obtaining your mortgage. We’ll work with you to repair your credit, pay off debts, and save for a higher down payment.

A credit score is a crucial component of your financial health and is typically a number between 400 and 900 that depicts your creditworthiness. The higher the score, the better you look in the eyes of lenders. A credit score is based on your credit history and the length of time you’ve had credit.

Yes. Even with bad credit, you can still qualify for our program. We understand people have made mistakes in the past, and we have a Credit Team dedicated to improving your credit score and getting you a mortgage.

Our Credit Team will set up a credit analysis at the beginning of the program, which will outline the tasks needed for you to achieve success, and we’ll continue to work with you throughout the program to ensure you’re staying on track.

No. Even if you have been through Bankruptcy or Consumer Proposal, you can still qualify for our program. We understand people have made mistakes in the past, and we have a Credit Team that is dedicated to improving your credit score and getting you a mortgage.

Our Credit Team will set up a credit analysis at the beginning of the program, which will outline the tasks needed for you to achieve success, and we’ll continue to work with you throughout the program to ensure you’re staying on track.

Yes. If you’re self-employed, we can help you obtain your dream of homeownership even if banks have refused you in the past.

When we determine your future purchase price, these factors play a role:

1. Today’s market value of the property: When selecting a home, we purchase the property, and the price is based on today’s market value or at the price that the seller has set.
2. Length of the Rent-To-Own term: Based on the area and property type, a conservative annual appreciation rate is determined based on historical market data. For instance, if the market data suggests an annualized appreciation rate of 7%~10%, we will use 4%~5% as the basis for our calculation.

   Depending on the length of the program (usually 2~4 years), the appreciation rate is then applied to calculate the future purchase price based on today’s closing value.

3. Approved mortgage amount from our Credit Team
   Verification that the end purchase price will be within the expected approval mortgage budget in the future as provided by the mortgage expert.

Benefits of a pre-determined future purchase price:

• By fixing the future purchase price, the problem of market volatility is removed, hence removing uncertainty on affordability in the future
• Fixed purchase price means a fixed down payment amount, eliminating the problem of trying to catch up with housing price
• As the market appreciates above and beyond the pre-determined purchase price, the client can build equity through the program

The minimum deposit in the JAAG Rent to Home Solution is 3% of your approved purchase price.

Of course! We’ll get you approved with a purchase price, and you can choose any home within the agreed purchase price.

If the purchase price or the immediate repairs are not within your approved budget, we will direct you to a property that fits your budget.

Yes. A home inspection is required to help avoid foreseeable issues with the property and to ensure a better Rent to Home experience for everyone. The client is responsible for the cost of the home inspections, as they would be if they were purchasing the home.

Of course! Make yourself at home as it will be yours at the end of the program.

You are responsible for the upkeep of your new home, and proper maintenance is key to retaining its value. Any additional improvements you make, add equity and put money in your pocket.

Before selecting your home, it will be inspected by a Certified Home Inspector, and we’ll ensure that any essential repairs are taken care of and are within your budget.

You do, and they will be included in your monthly payments.

If you’re a Realtor and Mortgage broker, the JAAG Rent to Home Solution offers alternative financing options for your clients, positive and recurring referrals, more transactions for you and your business, and the opportunity to help more people in your community find homeownership.

Monthly payments are calculated based on the same costs as if you were on title.

Your monthly payments include your mortgage, property taxes, insurance and additional monthly credits to increase your downpayment.

If you can’t obtain a mortgage at the end of the program, we’re happy to extend your rent-to-own term until you can qualify. We built the JAAG Rent to Home Solution to help you achieve homeownership, and we’ll work with you until that happens.