Tenant / Buyer Information:
Husband and Wife have been caught in the rat race of paying rent and have finally saved enough of a down payment to start their path towards home ownership through our Rent to Own program. They have 2 beautiful kids, they currently live in Scarborough and have decided to raise their family in a nice quiet community in the Durham Region. They fell in love with a beautiful home located in Bowmanville this past weekend and are looking for your help.
Husband is an independent driver and has been doing this line of work for over 12 years.
Wife works for the school board as a “Designated Early Childhood Educator”.
Household Income $90,000
They have a down payment of $7000 plus first and last month’s rent.
Rent will be $1850 with $200 in credits each month.
They have agreed to the following buy out prices:
Year 1 Buyout Price = $294,216 (no option)
Year 2 Buyout Price = $305,985
Year 3 Buyout Price = $318,224