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A New County, A New Home, A New System
As an immigrant from Colombia, owning a home seemed impossible, yet within just one year of landing in Northern Ontario, Canada, thanks to Requity Homes’ rent-to-own program, María and José Andrade are now on track to be owners in 2 years.
Jul 12th, 2022
2
 min read
Requity Homes Rent to Own Success Story of Maria & Jose Andrade
Table of Contents
Table of Contents
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“Home is where we feel safe, happy, and peaceful and where we can spend time with family and friends without disrupting someone else.”

For María and José Andrade, home is that safe space they can count on no matter how their day goes. It’s one of the simplest things to want in life, yet also one of the most important. A place to call home.

As a newcomer all the way from Colombia, María faced a brave new world in Canada back in 2021. Moving to a new country comes with its own fair share of challenges and finding the right home was an immediate priority for the couple. Looking at the options they had when they got here, she and José looked into renting to own and that’s how they got in touch with Requity Homes.

She fondly recalled, “We connected with Amy immediately, and she guided us on this journey with the help of a realtor Tracey Rutkauskas at Exit Realty here in Sault Ste. Marie.” Right from the start, Requity Homes felt like a great fit for the couple to fast-track their path to homeownership. “We had to find a house that met all our requirements and fit within our budget… but Tracey and Amy helped us a lot and kept us motivated to find the perfect home,” she said. 

Challenges Come in All Forms

Whether you’re new to Canada or born here and dealing with credit rating issues, there will always be challenges that can prevent you from getting your dream home. Requity's mission is to help bridge the gap between you and your dream home via a rent-to-own program. For María and José, it was as simple as helping them know where they needed to start. From knowing what paperwork is needed, how much money needs to be set aside, and the ideal budget for them, when considering their income and circumstances, Requity Homes brokered a deal for them to get closer to owning a home within 2 years. It’s an alternative path to home ownership that is perfect for people who need just that little bit of help to get over the last few hurdles to homeownership.

That Unexplainable Feeling

María and José emotionally recounted. “The moment Amy called us and told us that we closed the sale and that the house was our home, and then we received the keys - we just can’t explain how it feels. It’s like our dreams materialized into reality!”

Requity Homes lives for these moments of happiness. Owning a house is a major milestone, and it can truly change your life. For María and José, each step they took was them “working to build a beautiful house we can call our own.”

Let Their Triumph Be Yours

Owning a home can really make a difference in your life. From not knowing the first thing about how to purchase a home in Canada to finding a house they can purchase even if they haven’t established a strong credit score just yet, Requity Homes bridged the gap by helping them rent to own their dream home.

 

Their success story is just one of the many who know that renting to own with Requity works. Are you looking to build your own success story as you think about taking your first step into home ownership? Get in touch with us, and pre-qualify for a rent-to-own program. It just might be one of the best decisions you’ll ever make!

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Frequently asked questions (FAQs)
How does rent-to-own work?
Rent-to-own lets you live in the home now while working toward buying it later.
  • Apply online to get pre-qualified with no credit impact
  • Choose a home within your approved budget
  • We purchase the home and you move in
  • Each month you pay rent plus a fixed savings amount
  • You can buy back the home anytime during the standard three-year term, or walk away and keep your savings based on the program rules
Start your pre-qualification with Requity Homes now – it takes only minutes, and there’s no obligation to get started.
What kind of homes can I choose?
You can choose almost any move-in-ready home listed publicly or privately, as long as it meets our program criteria.
Eligible homes typically:
  • Are freehold single-family homes or townhouses
  • Are connected to municipal water and sewer
  • Are priced between $150,000 and $600,000
  • Are located in Alberta, Manitoba, Ontario, or Saskatchewan in communities with established municipal services and a population of 20,000 or more.
In some cases, newly built condo townhouses with reasonable condo fees may be approved. If approved, condo fees are added to your monthly payment.
Homes must be in good condition. Major systems such as roof, furnace, HVAC, and water heater should be within reasonable age limits. All properties are reviewed to confirm they meet our inspection and funding requirements.
We do not purchase rural properties, fixer-uppers, homes sold as-is, or properties with structural or safety concerns.
Once you are pre-qualified, you can tour homes with a partner agent or your own realtor and we will confirm eligibility before purchase.
How does pricing work?
Your monthly payment has two parts.
  • Rent that is aligned with the home’s carrying costs
  • Monthly savings that build your down payment
Pricing depends on the home price, your initial deposit, your monthly savings goal, and how quickly you want to buy back the home.
Want an estimate for your budget? Use our rent-to-own payment calculator
What are the basic requirements to qualify?
Eligibility varies, but here is the usual starting point.
  • Minimum household income $70,000 plus
  • Minimum credit score 500 plus
  • Minimum deposit 2% or $5,000
  • No active bankruptcy or consumer proposal
Eligibility varies, but here is the usual starting point.
We verify income and savings with documents so we can confirm the payments are affordable.
What documents do I need to verify income?
Depending on the type of income, we will ask for different supporting documents to verify your income. Our goal is to make sure you can afford rent-to-own payments during the lease term.
Traditional employment
(Hourly, Salaried or Commission)
  • Employment letter
  • Most recent pay stubs
  • Notice of assessment from the last two years
  • Bank statements for the past 6 months
Self-employed
  • T1 general tax returns
  • T2 corporate tax returns
  • Notice of assessment from the last two years
  • Personal & Corporate bank statements for the past 12 months
Pension & Disability Incomes
  • Proof that such payments are expected to be longer than three years
Alimony & Child Support
  • Proof that such payments have been made consistently in the past 6 months
What is the interest rate?
There is no interest rate during the rent-to-own term because this is not a mortgage.
When you are ready to buy the home, most clients get a mortgage from a lender to complete the purchase.
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Have Questions About Rent-to-Own? Let’s Talk.

Speak to our team about your eligibility, monthly payments, and next steps toward homeownership.
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Home
Blog
Customer Stories
A New Country, A New Home, A New System

A New Country, A New Home, A New System

7/12/22
|
2
 min read
Requity Homes Rent to Own Success Story of Maria & Jose Andrade
Summary
As an immigrant from Colombia, owning a home seemed impossible, yet within just one year of landing in Northern Ontario, Canada, thanks to Requity Homes’ rent-to-own program, María and José Andrade are now on track to be owners in 2 years.
Table of Contents

“Home is where we feel safe, happy, and peaceful and where we can spend time with family and friends without disrupting someone else.”

For María and José Andrade, home is that safe space they can count on no matter how their day goes. It’s one of the simplest things to want in life, yet also one of the most important. A place to call home.

As a newcomer all the way from Colombia, María faced a brave new world in Canada back in 2021. Moving to a new country comes with its own fair share of challenges and finding the right home was an immediate priority for the couple. Looking at the options they had when they got here, she and José looked into renting to own and that’s how they got in touch with Requity Homes.

She fondly recalled, “We connected with Amy immediately, and she guided us on this journey with the help of a realtor Tracey Rutkauskas at Exit Realty here in Sault Ste. Marie.” Right from the start, Requity Homes felt like a great fit for the couple to fast-track their path to homeownership. “We had to find a house that met all our requirements and fit within our budget… but Tracey and Amy helped us a lot and kept us motivated to find the perfect home,” she said. 

Challenges Come in All Forms

Whether you’re new to Canada or born here and dealing with credit rating issues, there will always be challenges that can prevent you from getting your dream home. Requity's mission is to help bridge the gap between you and your dream home via a rent-to-own program. For María and José, it was as simple as helping them know where they needed to start. From knowing what paperwork is needed, how much money needs to be set aside, and the ideal budget for them, when considering their income and circumstances, Requity Homes brokered a deal for them to get closer to owning a home within 2 years. It’s an alternative path to home ownership that is perfect for people who need just that little bit of help to get over the last few hurdles to homeownership.

That Unexplainable Feeling

María and José emotionally recounted. “The moment Amy called us and told us that we closed the sale and that the house was our home, and then we received the keys - we just can’t explain how it feels. It’s like our dreams materialized into reality!”

Requity Homes lives for these moments of happiness. Owning a house is a major milestone, and it can truly change your life. For María and José, each step they took was them “working to build a beautiful house we can call our own.”

Let Their Triumph Be Yours

Owning a home can really make a difference in your life. From not knowing the first thing about how to purchase a home in Canada to finding a house they can purchase even if they haven’t established a strong credit score just yet, Requity Homes bridged the gap by helping them rent to own their dream home.

 

Their success story is just one of the many who know that renting to own with Requity works. Are you looking to build your own success story as you think about taking your first step into home ownership? Get in touch with us, and pre-qualify for a rent-to-own program. It just might be one of the best decisions you’ll ever make!

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Your home ownership begins here.

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