DEON Home Solutions

The idea of renting a home and then owning it can be somewhat incredible for many.  This is referred to as "lease to own" or often times, "rent to own".  However, the concept is quite simple--our lease to own program is unique in the sense that you actually shop for your own house before you lease it!

This is an amazing opportunity that few people have heard of and even fewer have ever been exposed to.  For those who take advantage, they will see doors open as they not only will own their own home, but realize financial benefits they may have never thought possible.

Why You May Have Never Thought it was Possible

Most people have learned that the way you buy a house is to save some money for a down-payment, decide what you can afford, find the perfect house, then go the bank to get approved for a mortgage.  So what happens if the bank denies you?  They might decline you for a number of reasons, such as insufficient down-payment or low credit score.  Typically you would be out of luck and perhaps be thinking that owning a home is not for you, but only for those fortunate enough to qualify and afford it.  Especially in these economic times the banks are even more stringent.  So what now--keep renting, I guess?

Why it May be Possible for You Now

The banks and lenders are just doing their jobs--entering your figures into their systems that do calculations that ultimately determine if you're "approved" or "declined."  If you're approved, that's fantastic!  However, if you're declined, it can be quite demoralizing.

Normally, with your tail between your legs, you would go back to your rental property and continue to make your landlord rich.  Until now there was no other option.

Who We Work With

People in our lease to own program typically have one or more of the following characteristics:

• Good income, but no credit history


• Good income, but poor credit rating


• Self employed and entrepreneurs


• Previously declared bankruptcy


• Credit challenges due to previous job loss, divorce, or health issues


• Insufficient down payment


• In consumer proposal


• Facing foreclosure on current home

What to Expect from Us

There is more to the lease to own program than simply providing houses to everyone who would otherwise not qualify.  A large part of what we do involves removing what has prevented you from qualifying for financing in the past, including:

• Improving your credit score

• Establishing your credit history

• Creating a mandatory savings plan to use as the future down-payment for your dream house

What's Expected from You

So far this may sound too good to be true and you may be wondering what's the catch!  To help you achieve your goals and ensure the program works for you, we require the following:

• A small deposit of typically 3% to 5% of the property value - credited towards the final down-payment for your mortgage, thus already building equity in your home

• The job stability to cover the monthly lease and option credits (usually around 20% of the lease) - the lease options are used towards your down-payment when you exercise your option to purchase at the end of the lease term

If you believe you meet all of the other criteria but are not able to come up with the deposit, fear not--we have other options available such as instalments or loans.

When You Qualify

After you have qualified for our lease to own program you can go shopping for your dream house! Using the information you've provided us we will help you determine what's affordable.

This is when it gets exciting.  We will connect you with a real estate agent who is familiar with our program and the area where you wish to purchase.  You can also browse the housing market on MLS (www.realtor.ca).  When you have found the perfect house, we will make an offer to purchase and set you up with a lease to own agreement.

Before You Move In

After the house has been purchased, there are a few details to complete before you can move in:

• Determine the lease period - calculated to allow you to secure financing at the end of the lease period

• Complete the final purchase agreement - agreed upon before you move in

• Complete the lease agreement - including the lease option credits

All agreements are structured and carefully calculated to ensure that you will be able to comfortably afford the lease and option credits, as well as the final purchase of the house.  This is to the advantage of everyone and making it particularly a winning situation for you!  Finally, you can have your cake and eat it too!

Why You Should Lease to Own

Here are some reasons we believe our program creates an excellent opportunity for you:

• Qualifying is easy!  You can apply online, and your current credit score is not an issue

• The down-payment is small, and we ensure your monthly payments are affordable

• Your end-of-lease purchase price is guaranteed before you move in

• You will start building equity in your house immediately

• It's YOUR house, so you are free to do any renovations on it

• You choose the house you want

How to Get Started

The process is really quite simple.  Stop paying rent and start building equity!  You can start the process by completing our short application form.  There is no obligation.  We will contact you within two business days to let you know either way if we think we can work with you.

Apply Online Now