Bryon Howard of ReMax House of Real Estate has launched a new website called CalgaryHomeOwner.com.  Bryon believes that it is the goal of all Calgarians to own their own home. However, many people are faced with financial setbacks and circumstances that prevent them from obtaining conventional financing. CalgaryHomeOwner.com specializes in helping people with less than perfect credit realize the dream of homeownership.

The goal of www.CalgaryHomeOwner.com is to Create Win-Win Real Estate Solutions.  Essentially Investors will Rent to Own their homes to tenant/buyers. Investors have a long term tenant/buyer and the tenant/buyer is in a stable home and experiences all the pride of home ownership.

Essentially, renting to own is as easy as it sounds. The renter/buyer enters into an agreement with the seller to rent their home for a certain amount of time (3 years is a common length), and at the end of the agreed upon term, the renter/buyer will purchase the house.

How is this any different from a standard purchase agreement? Each month, a portion of the rent (called a credit) is put towards the eventual down payment on the house. Thus, when the buyer/tenant is ready to purchase the home, they already have a sizeable down payment saved up.

A Rent To Own your home program is basically a lease with an option to buy contract. Effectively, the option to buy contract is in favour of the buyer/tenant. The buyer/tenant gets to decide whether or not to buy the home during the option period.

When one signs a lease with an option to buy contract, they must pay the landlord/seller an option payment. This money is your vested interest in your home and will be fully credited (100%) to the down payment of the home when the buyer/tenant exercises the option (buy the home).

There is a minimum of cash out of pocket. With a lease and purchase option you pay only first month's rent and the option payment. The option payment amount is negotiable based on the price of the home and is usually between $3,000 and $20,000. However, please be aware that this money can only be used towards your purchase of your home and is not refundable.

Bryon Howard states, “With Rent to Own properties, Credit problems are okay as qualification restrictions are not as strict as conventional financing. Tenant/buyers will be approved at the discretion of the landlord/seller.”

Rent to Own tenant/buyers get peace of mind. They have full control of the home and can maintain it or improve because it will be the tenant/buyers when they exercise the option to buy.
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For more information on Rent To Own housing, please  visit www.calgaryhomeowner.com