** rent to own ** in st-thomas
This listing has expired and no longer available for rent
** Rent to Own **
Meda St, St. Thomas, ON
February, 29, 2024
added
$2,300
Utilities not included
| Main Features |
|---|
| House2 bedrooms850 Sqft1 baths2 parking spotsAC Pet Friendly one-year lease |
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| Other Features |
| Has Yard Has Laundry In Building Has Dishwasher Has Fridge |
| Description |
| Great rent to own opportunity if you need a little time to qualify for a mortgage. Move in now with only a 5% upfront down payment and take 1 year to qualify for your mortgage to officially make it your own. Take advantage of this opportunity now while it lasts! - 2 bedrooms - 1 bathrooms - Newly renovated - 850 square feet The monthly payment is $2,300/month rent (+ utilities) + $500/month towards your down payment = $2,800/month. That’s $6,000 in additional down payment funds towards your purchase. The balance due at the end of 1 year will be: $384,500 price - $19,000 (5%) upfront non-refundable down payment - $6,000 additional down payment = $359,500 required mortgage. At the end of 1 year you will need to qualify for your own mortgage with your mortgage broker / bank and then the house will transfer to you at the closing and officially make this home your own. As with all rent to own agreements, since the plan is that you will be the new owner of this home in 1 year, all maintenance & minor repairs under $500 will be your responsibility during the 1 year that you will be living in the house before you qualify for your own mortgage. 11 Meda St, St. Thomas Please message if you are interested. |