FAQ

1. Find Your Home
2. Move In
3. Build & Save
4. Become a Homeowner

If you have a household income of 100,000+ and a 3% minimum down payment in savings, we’re ready to find you your home. Combined with our financing and real estate expertise, we’ll guide you through the process and help you move into your new home in record time.

The ADVA Rent to Own allows you to move into your own home, even before obtaining your mortgage. We’ll work with you to repair your credit, pay off debts, and save for a higher down payment.

A credit score is a crucial component and is typically a number between 400 and 900 that depicts your creditworthiness. The higher the score, the better you look in the eyes of lenders. A credit score is based on your credit history and the length of time you’ve had credit.

Yes, even if you have bad credit, you can still qualify for our program. We know everyone makes mistakes, and we have a dedicated Credit Team to help improve your credit score and secure a mortgage for you.

Our Credit Team will start with a credit analysis to outline what you need to do to succeed. We’ll support you throughout the program to keep you on the right path.

No. Even if you’ve gone through Bankruptcy or a Consumer Proposal, you can still qualify for our program. We understand that people make mistakes, and our dedicated Credit Team is here to help improve your credit score and secure a mortgage for you.

At the start of the program, our Credit Team will conduct a credit analysis to outline the necessary steps for your success. We’ll continue to work with you throughout the program to ensure you stay on course.

Yes. If you’re self-employed, we can help you obtain your dream of homeownership even if banks have refused you in the past.

When determining the future purchase price, several factors come into play:

1. Current Market Value: When selecting a home, we purchase the property, and the price is based on today’s market value or at the price that the seller has set.

2. Length of the Rent-To-Own term: Based on the area and property type, a conservative annual appreciation rate is determined based on historical market data. For instance, if the market data suggests an annualized appreciation rate of 7%~10%, we will use 4%~5% as the basis for our calculation. Depending on the length of the program (usually 2~4 years), the appreciation rate is then applied to calculate the future purchase price based on today’s closing value.

3. Approved mortgage amount from our Credit Team: Verification that the end purchase price will be within the expected approval mortgage budget in the future as provided by the mortgage expert.

Benefits of a pre-determined future purchase price:

– Stability and Predictability: By fixing the future purchase price, the problem of market volatility is removed, hence removing uncertainty on affordability in the future

– Predictable Down Payment: Fixed purchase price means a fixed down payment amount, eliminating the problem of trying to catch up with housing price

– Equity Building Opportunity: As the market appreciates above and beyond the pre-determined purchase price, the client can build equity through the program

The minimum deposit required in the Adva Rent to Own program is 3% of the purchase price you are approved for.

Absolutely! Once you’re approved with a purchase price, you’re free to select any home that falls within that price range.