Our Program

“If you plan to purchase a home anyway, why can’t you just rent the home you want to buy?”

Banks have two basic lending requirements. You must have:

  • A solid financial history
  • And a substantial amount of savings or equity for a downpayment

Meaning any one of these following circumstances could cause you to be disqualified for a mortgage:

  • New to the country 
  • New Job 
  • Recently graduated
  • Self employed
  • Unexpected expenses
  • Identity theft 
  • Divorce 
  • Bankruptcy or consumer proposal 
  • Rising house prices 
  • Stricter lending rules 
  • etc

It takes at least 2 years, usually more, to build your financial history and savings enough to re-qualify which forces you to live in someone else’s rental until then.

At Peace River Lease Option we don’t think that’s right. If you plan to purchase a home anyway, why can’t you just rent the home you want to buy? 


Lease Option – A Lease with an Option to buy

When you have:

  • Enough income to become a home owner eventually
  • Repairable Credit
  • Good rental history
  • And some savings

Enroll in our program and we will buy that house so you can move in now! We rent it to you with the step by step program our professionals design to help you become the home owner.

The advantages?

  • Want to paint a room? Plant a tree? Hang your pictures? Or even build a deck? No problem! We have much less restrictions on home improvement. 
  • Families with children and pets are welcome.
  • You get to live in the home while building your financial history and savings to purchase it.
  • The price is fixed when you move in, regardless of any home improvements you make or market fluctuations. This removes one of the biggest variables you have when buying a home. You know exactly what you are saving for.
  • Experiencing that feeling of having a home of your own!

Step by Step:

1. Complete our Lease Option application. 

2. Initial consultation where: 

  • You tell us your unique situation and goals
  • Once we know your situation we will be able to show you what your program will look like so you can make an informed decision
  • We answer your questions

3. Gather documentation and introduce you to our professional mortgage broker who will work to pre approve you for a mortgage and provide a credit fix plan if needed.

4. We develop the payment schedule that fits you: 

  • Work with you to pick a budget 
  • Discuss and lay out the plan for your program

5. Shop for a home with our real-estate professional: 

  • Access to every listing on MLS 
  • Access to private listings 

6. Purchase phase: 

  • The Lease Option is finalized
  • We buy the house

7. Set possession and move in dates

8. Welcome to your new home! 

  • Inspection of property 
  • Key handover

9. Qualify for your financing at the end of the Lease Option term

10. Purchase the property 

Congratulations! You are a home owner!