The irony of Rent-to-Own financing is that you have good clients, and a good property, but because it’s a Rent-to-Own purchase rather than arms-length purchase, it’s tough to get these financed conventionally.
The good news is that there is a solution for these clients. The problem can be solved with a 2-step process. First, your client can borrow the funds to complete the purchase from the Rent-to-Own vendor using a mortgage from Kokanee Mortgage. Then when the title is in your client’s name, they can simply refinance conventionally as they normally would.
As long as the borrowers, the property and the LTV fit our regular refinance guidelines, the fact that it’s a Rent-to-Own is not a problem for us.
When you do find borrowers in need of a Rent-to Own solution, contact the experienced underwriters at Kokanee Mortgage for solutions.