Alternative Financing For Brokers

Mortgage Broker

ALTERNATIVE FINANCING SOLUTIONS FOR YOUR CUSTOMERS

Do you have customers who:

1. Have poor credit

2. Can’t get financing

3. Who have had delays on mortgage payments

4. Can not refinance

5. Want to consolidate debts

6. Are with a private lender that costs too much

7. Are going through divorce

If your answer is yes, then we have a solution for you and your customers!

We are talking about rent-to-own or lease buybacks. This alternative could be an interesting choice. This program is still little known but growing in Quebec.

What is it?

This is an alternative method of financing. Breneka Real Estate Solutions will purchase the property temporarily, rent it for a period of one to three years – the time it takes for the client to rebuild their credit rating – and they will buy their home at the end of the lease.

Why lease buyback with Breneka Real Estate Solutions?

• Our program is cheaper than the private loan.

• Because it allows your customers to have more money in their pockets at the end of the month and start on their path to rebuilding their credit.

• The loan-to-value ratio is higher.

• The term is longer than a private loan and there are no annual renewal fees!

Not to mention that you are paid for the referral! 1% of the market value of the home!

You do more for your client, so you deserve more!

Eligibility Criteria for Current Owner:

1. Have a reasonable amount of equity in the property

2. Have a stable job or income and the financial ability to pay

3. They must be committed to restoring their credit

4. They must want to keep their home for the long term

5. The property must be located in a city of at least 10,000 inhabitants

6. Property must be reasonably well maintained over time

Eligibility Criteria for Buying the Property:

1. Have 11.5% down payment + 2% for administrative fees

2. Have a job, stable income and the financial ability to pay

3. They must be committed to restoring their credit

4. The property must be located in a city of at least 10,000 inhabitants and in good condition

Real Estate Broker

Do you ever find that one of your clients has been refused financing?

You think you lost a sale?

Know that rent-to-own is an alternative way for your customers to access the property despite a refusal by the banking institutions. For you it’s an opportunity to make another sale! Even if your client is refused, we will buy the property through you. The client will occupy the house and rent it for a period of one to three years, the time necessary for it to fulfill the conditions of a traditional bank. At the end of the contract, he buys the house and finally becomes the owner.

Eligibility Criteria

1. 11.5% minimum down payment + 1% for fees

2. Have a stable job and the financial ability to pay for the coveted home

3. The property must be located in a city of at least 10,000 inhabitants and in good condition

4. Have made the decision to restore credit

5. Have the desire to become an owner

Customer benefits

1. It’s a program tailored to their needs

2. Get the property faster

3. They can make the improvements they want in the home

4. The redemption price is predetermined

5. Duration is one to three years

6. Credit Recovery Program with the Canadian Credit Bureau