Our Rent-to-Own Purchase Program allows you to buy a home today without having to meet the typical qualifications required by banks. Our program is specifically designed to assist people experiencing difficulty in obtaining conventional financing.

With our program, you are considered the owner the day you move in.  Never again will a landlord tell you what you can and cannot do. You have the right to renovate and improve your property just as any other owner from the moment you have the keys. The biggest benefit is that you get to live in your house while you repair your credit or accumulate enough money for a full down payment!

How does it work?

Our program is designed to help people obtain their own financing as quickly as possible in order to realize the ultimate dream of home ownership. Once you qualify for the Blue Ribbon Partnerships Rent To Own Program, we will determine how much you can afford to pay for a house and how much time you need before you can qualify with a bank for a mortgage. The latter will determine the length of the lease. Our Mortgage Specialist will work with you throughout the whole process to ensure that you are on track.

Once we know what you can afford, it’s time to start shopping! You locate a house and we will buy it using an Investor. The day the deal closes, you receive the keys and you can then treat the house as your own. We sign two documents:  a Lease Agreement and an Option to Purchase at the end of the lease term for a pre-determined price.

The lease is based on a fixed term (i.e. 1 to 5 years) to be determined together based on your financial situation. In our experience, most people are able to obtain their own financing within 5 years. Our program helps you build or repair your credit, which may be all you need to obtain conventional financing. In order to minimize the amount you pay on a monthly basis, we recommend putting down as large a deposit as possible.

Minimum deposit required for our Program:  $5,000 (target 2% of purchase price)

The purchase price is established at the beginning of the lease term and is guaranteed for the duration of the term. It is based on the projected value of the home at the end of the term using average annual increases for the area.  If you require more time and wish to extend the term, the purchase price will be increased by an agreed-upon average rate until you are ready to exercise your Option to Purchase. This lease extension will also provide you with additional time to accumulate a larger down payment.

Your initial Option Deposit (down payment) will be applied to the purchase price and will be viewed by conventional lending institutions as an acceptable down payment when you exercise your Option to Purchase.

Our monthly payments are all inclusive: property taxes, building insurance, condo fees (if applicable), mortgage payments and Lease Option Credits are all included. The Lease Option Credits are credited toward your down payment in addition to your initial down payment when you exercise your option to purchase the property. The Lease Option Credit amount varies depending on the property you select and the initial down payment.

What Happens during the Lease Term?

You live in the house and treat it as your own. Every six months you will be contacted by our Mortgage Specialist to discuss how your credit is doing to ensure that you are on track to buy your home at the end of the term. He will work very closely with you for the duration of the term to ensure that there are no surprises at the end.

What Happens at the End of the Lease Term?

At the end of the Rent to Own term with Blue Ribbon Partnerships, most people are now free and ready to exercise their Option to Buy. If this is the case for you, one of our Mortgage Specialists will qualify you for bank financing and you can proceed with the purchase of your home! It’s simple and easy.

If you require a bit more time to fix your credit or to increase the amount of down payment, you have the option of extending the lease.

Our Program offers great flexibility and is designed to make the process a smooth and easy one for you. So go ahead and fire your landlord – You never need to rent again!

Blue Ribbon Partnerships: Rent to Own done Ethically!