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Frequently Asked Questions- Rent To Own Program

IBHF offers a Complete Home Ownership Plan. Our mandate is for you to own a home.

We offer our Buyers free credit counselling and at any given time are working with 30+ banks to help you get the best possible mortgage . This is your opportunity to enjoy the Canadian Dream and own a home.

We put a large portion of your monthly rent "rent credit" towards the Down Payment of the home. After reviewing your credit bureau we will discuss ideas to help you qualify for a mortgage with the bank and if permissible we can also assist with the downpayment at the time of purchase.
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 you’d have an additional $3,600.00 towards the down payment. It’s a forced savings that you never had.
We work with people with all sorts of credit issues. After reviewing your situation together we will discuss ideas of what needs to be done to help you own a home.
We only require 1st month’s rent. Any additional money you can raise above first month's rent will all go towards the Down Payment for the home.
We can set up a viewing right away. Contact our client services to set up an appointment. Our houses don’t last long so don’t take too long deciding if you’d like to own a home or not.
Most of our homes are vacant and available now. If you lose your last month’s rent we can make arrangements for that lost rent amount to be reimbursed with your new home purchase. We don’t want you to lose an opportunity to own a home because you need to give notice.
The selling price is set within the term before you move in so there are no surprises when the time comes to purchase the home. We also have incentives for families that work hard to get a mortgage quickly.
The rent credit is for incentive purposes only to help you purchase a home. The rent including the credit is fair market rent for this great opportunity and in many cases the rent barely covers our expenses. We will do everything in our power to help you purchase this home. If you decide not to purchase the home then that would be your choice.
We are only looking for people who would like to own a home. Why only rent when you can own?
We pay the taxes and condo fees.
We pay the mortgage, taxes, home insurance, and condo fees if applicable. The utilities that your family consumes would of course be your own expense.
We pay the mortgage until we are able to help you purchase the home. You are responsible for paying the rent, maintaining the house, and improving your credit worthiness.
We can extend the term with an updated renewal agreement assuming you have been paying your rent on time, looking after the home and you're showing credit improvement.
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