Frequently Asked Questions FAQ from Property Buyers
IBHF offers a Complete Home Ownership Plan. Our imperative is that you own a home.
We offer our clients free credit counselling and at any given time we are working
with 30+ banks to help you get the best possible mortgage and rates.
This is your opportunity to enjoy the Canadian Dream and own a home.
Q- How Does Rent To Own Work?
Answer :- To help you qualify for a mortgage with the bank we offer â€˜Freeâ€™ credit counselling and can also assist with the down payment at the time of purchase if permissible. Towards the Down Payment of the home, we put a large fragment of your monthly rent â€˜rent creditâ€™.
Q- What do you understand by Rent Credit?
Answer :- Itâ€™s a forced savings that you never had. The Rent “Credit” is the portion of the rent that we put away each month as an incentive to help you save for the down payment on the home. If the rent credit is $300 then after 12 months youâ€™d have an additional $3,600.00 towards the down payment.
Q- How Long Is The Rent To Own Term For?
Answer :- The term exclusively depends on your situation. In many instances we have been successful at helping families buy homes in as little as 4-6 weeks. In most cases the term is 12-18 months but we will also try to help you own the home sooner.
Q-How much does having a Bad Credit matters?
Answer :- We work with people with all kinds of credit issues and offer â€˜freeâ€™ credit counselling. We determine your situation and analyse what needs to be done to help you own a home
Q- Do we require a Down Payment?
Answer :- We require rent for the very 1st month. Any additional money you can raise above first month’s rent will all go towards the Down Payment for the home.
Q- When can we see the property?
Answer :- To set up an appointment you need to contact our client services. We can also set up a showing right away. Our houses donâ€™t last long so donâ€™t take too long deciding if youâ€™d like to own a home or not.
Q- We need to give 2 months notice will you still be able to help us?
Answer :- Most of our homes are vacant and available now. If you lose your last monthâ€™s rent we can make arrangements for that lost rent amount to be reimbursed with your new home purchase. We donâ€™t want you to lose an opportunity to own a home because you need to give notice.
Q- What is the selling price?
Answer :- Before you move in, the selling price is set. So there are no surprises when the time comes to purchase the home. We also provide incentives for families that work hard to get mortgage quickly.
Q- Can we only rent the house?
Answer :- We are only looking for people who would like to own a home. Why renting a home when you can own one?
Q- Who pays the taxes and/or condo fees?
Answer :- We pay the taxes and condo fees.
Q- Are the utilities included?
Answer :- The mortgage, taxes, home insurance, and condo fees if applicable are paid by us. The utilities that your family consumes would off course be your own expenditure.
Q- Who is responsible for the mortgage?
Answer :- Until we are able to help you purchase the home, we hold the mortgage and are responsible for paying it. You are only responsible for the rent, maintaining the home, and improving your credit worthiness with the help of our “free” credit counselling.
Q- What happens if we are not able to purchase after the term?
Answer :- We will extend the term assuming that you have been paying your rent on time, looking after the home and showing signs of credit improvement, we will cope up with you until you own the home.
Q- Is this website secure enough to send my personal information?
Answer :- Yes, this Web Site is secured with a Starfield Technologies Web Server Certificate. Transactions on this site are protected with up to 256-bit Secure Sockets Layer encryption.
Your success is our Passion!
Navtaj Chandhoke is a veteran Canadian Real Estate investor, Master Coach/Mentor/Speaker & Canadian hard money lender . Join now Canadian REI Club membership to attend upcoming No $$ Down Canadian Real Estate Seminar LIVE in Canada and become next Canadian Real Estate Apprentice