REAP Rent-to-Own Program

What are the advantages of Rent-to Own

forrentAs an alternative to the Home Ownership Program, the Rent-to-Own Program may be a better fit for you. Upon qualification, you will be paired with a real estate agent to find a house that is within your budget. REAP will then analyze the property and evaluate comparisons to determine the house’s average appreciation determining the future purchase price that you will eventually buy the house for. An offer will be made on the property and upon acceptance, a team of investors will purchase the home until you can purchase at the end of the lease term.

Our clients enjoy being able to accelerate their journey to home ownership because of these reasons:

  • Little out of pocket to get started
  • Option to earn towards your down payment. Each and every month that you pay on time, we contribute to your down payment! These additional monies help reduce the price of the house which lets you build equity in your home faster than with a traditional mortgage – no more wasting all your money on rent!
  • Home Appreciation: Any improvements that you make on your home will increase the value above and beyond your final price. This increase in the home’s value is yours to keep because your price is locked in.
  • Move Into Your Home Now: Instead of waiting until you can qualify for a mortgage, you get to move into your home now and qualify with the bank later.
  • Improve Your Credit Score: We consult with you to help you improve your credit score so that you can obtain financing when you exercise your purchase option


In order to qualify for the Rent-to-Own Program there is a series of criteria that interested home-buyers must first meet. Take a look at the following criteria to see if you will qualify. We understand that you may be unsure whether you will qualify. If that is the case, we encourage you to still submit an application or speak to a representative about your concerns. We also welcome you to refer anyone you feel may benefit from the Home Ownership Program. We especially encourage first-time home-buyers, new immigrants, single-parent households, households with dependents, and victims of family violence to apply.

You will be asked to submit standard documents such as:

  • Demonstration of secure income
  • Paystubs
  • Last year's T4
  • Credit Report
  • References
  • Down Payment (Negotiable)


A lease agreement will be signed for a preset term (usually the time required to improve the candidate’s credit score and build a minimum of 10% down). The candidate will be responsible for making monthly payments (market rent for the area) plus an option premium to put towards the future down payment. The option premium will vary depending on the initial amount put own from the candidate (the monthly option premium will be higher for lower initial deposit due to the fact that 10% down is required at the end of the term). At the end of the lease term, the client may exercise their option to purchase.