Lock in today.
Qualify later.
A structured 24-36 month path from renter to owner. Lock in your home and price now, build credit and savings during the rental period, qualify for a traditional mortgage at the end.
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- No fees, ever
- Licensed Alberta brokers
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This helps us understand where you're at so we can match you with the right options.
What's your down payment situation?
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We never pull your credit for this estimate. Your information is never shared or sold. For more information, please refer to our Privacy Policy.
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The Skip the Down Payment program — and any mortgage with less than 20% down — requires solid credit history. Here's what good credit looks like and how to build it.
If you don't have any credit history yet, start with secured Visas from Scotia Bank and Home Trust — they're easier to approve for and a great first step. You can track your score for free at www.equifax.ca.
Down payment ranges and what credit you'll need
- 0–4% down: excellent credit, score above 680
- 5–9% down: score of 620+, no late payments or collections in the last 2 years
- 10–19% down: score of 580+, no recent late payments or collections
- 20%+ down: multiple lenders available depending on your interest rate tolerance
Tips to bump up your credit score
- If you've missed payments, try to open or maintain three credit accounts with perfect repayment going forward. (Student loans don't count.)
- Re-establishing payment history typically takes:
- ~12 months for one missed payment
- 2–3 years for 60- or 90-day late payments
- 3+ years for written-off debts (excluding minor collections like cell phone bills)
- Consumer proposals and orderly payment of debt are treated like a bankruptcy for mortgage purposes — wait times are significantly longer.
- Keep credit utilization low. Utilization is the ratio of balance to total credit limit. 30% or under is ideal.
- If you plan to purchase a home within 24 months, do not finance a vehicle purchase — the high utilization of that debt will reduce your score and your mortgage approval chances.
Why closing cards can hurt you
Say you have these accounts:
| Account | Limit | Balance |
|---|---|---|
| Credit Card A | $15,000 | $0 |
| Credit Card B | $10,000 | $0 |
| Credit Card C | $5,000 | $4,000 |
| Loan (orig. $20,000) | $20,000 | $17,000 |
Total utilization: $21,000 balance ÷ $50,000 total limit = 42% — that's healthy.
Now close Cards A and B (because you don't use them). New utilization: $21,000 ÷ $25,000 = 84% — that's bad. Your credit score could drop 50 points overnight.
A bridge from renting to owning
Rent to own works well for borrowers who could afford a mortgage payment but have one or more issues blocking traditional approval — recent credit damage, insufficient down payment, self-employment too new to document. The Rent to Own Plus program structures a 24-36 month rental period during which you build the missing piece, then convert to a traditional mortgage at a pre-agreed price.
Critically, this is not 'sketchy' rent-to-own. The Plus program uses formally-structured agreements, credible investor partners, and a real legal framework. The exit is a traditional, federally-insured mortgage — not a balloon payment or gimmick.
Right fit checklist
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Stable, documentable income. You need to support the monthly rental payment AND demonstrate you'll qualify for a mortgage by the end of the rent period.
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Credit on a recovery path. Credit doesn't need to be great today, but lenders want to see you actively rebuilding — paying bills on time, reducing balances, etc.
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Some down-payment savings. Typically 3-5% upfront as a deposit on the eventual purchase. Additional savings accumulate during the rental period.
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A clear exit plan. What blocking issue will be resolved by month 24-36? Bankruptcy discharge? Self-employment seasoning? Credit rebuild? Document and plan.
Three steps to a quote
Property and price agreement
Pick the home you want. The investor partner buys it. You sign a rental agreement plus an option to purchase at a pre-agreed price 24-36 months out.
Rent + savings period
You rent the home, with a portion of each rent payment credited toward your eventual down payment. Use this time to fix the issue blocking traditional approval.
Convert to traditional mortgage
At the end of the term, we arrange a regular insured mortgage to buy the home from the investor. You move from renter to owner without changing addresses.
What you gain in 24-36 months
Price locked in today
If the market appreciates during the rental period, you capture that appreciation — purchase price was set at the start.
Forced savings
A portion of each rent payment is credited toward your down payment. Average client builds $15,000-$30,000 toward closing this way.
Time to fix the file
Recently bankrupt? Need 2 years post-discharge. Self-employed? Need 2 years of business filings. Rent-to-own buys you that runway in your home.
Live in your future home
Unlike traditional rent, the home is the home you'll own. Renovate. Decorate. Garden. Settle in. It's yours, just on a delayed timeline.