The irony of rent-to-own financing is that despite having good clients with a good property, it can still be tough to get financing conventionally.
The good news is that there is a 2-step solution for these clients:
- First, your client can borrow the funds to complete the purchase from the rent-to-own vendor using a mortgage from Kokanee Mortgage.
- Second, when the title is in your client’s name, they can simply refinance to a conventional mortgage.
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.