Home ownership can be confusing! We understand that you likely have questions and concerns. Remember, we're here to help.
You will find answers to some of our most commonly asked questions below. Select a category below to expand the section.
Finances
It is unlikely we will be able to lend you the down payment. However we are connected to a network of investors and lenders who may be able to lend you the money you need to get started on the Rent-to-Own program.
We are self-funded and we also access capital through our network of investors and lenders.
In the case that you would be entitled to receive the total of what you paid as monthly option consideration, minus some minor applicable fees. The initial option consideration is non-refundable.
How it works
The Rent-to-Own program is a way for newcomers to Canada, self-employed people, and others who cannot obtain a traditional mortgage to become home owners. At Heading Home it’s our specialty!
No, we assure you that Heading Home’s Rent-to-Own program is 100% legitimate. We are committed to treating you fairly, with respect and dignity throughout the process.
Per the regulations of the Tenant-Landlord act, the owner of the house maintains responsibility for the house during the tenant-buyer’s residence.
Basically we help you get approved for a mortgage, while living in the home that you will own before you buy it. Please see our How it Works section for a detailed description of each step of the process.
Timeframe
Yes. Our goal is to get you set up and owning your own home, and we will work with you to make that happen. It is ideal for us to stick to the timeline that we agreed to in the initial Rent-to-Own contract. However if we meet with you and determine that an extension of 1 year is what will best meet your needs and have you successfully complete the program, that is possible.
It depends on the specifics of your deal and your situation, however many similar programs close in approximately 12 weeks to get started. You could be moving into your new home just 3 months from now!
It can vary but most are 3 to 5 years. You are living in your home as a tenant-buyer during that time.
Yes you can — provided you have saved a sufficient amount for your down payment.
