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  • What You REALLY Need To Know About Rent To Own #2 with Guy Lew
Maureen Divinagracia

What You REALLY Need To Know About Rent To Own #2 with Guy Lew

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What You REALLY Need To Know About Rent To Own #2 with Guy Lew


Guy Lew
Guy Lew is the President of HOS Financial or also known as Home Owner Soon, established since 2005 and executed more than 650 rent to own transactions making us a leading expert in rent to own. HOS Financial is Canada's first national based rent to own dealer that services the entire Canadian market and first to pilot the Rescue Re-financing program in 2009 at CAAMP. Servicing the entire mortgage industry of over 10,000 mortgage professionals, HOS Financial has helped 100's of Canadian families achieve home ownership or retain the home they are currently in from a power of sale or foreclosure. Being the first company in Ontario to be granted a Diamond Status with CAROP (Canadian Association of Rent To Own Professionals), we understand success in every file is not just approving a deal, it is the ability to exit a client and guide them into an mortgage approval. As lender guidelines tighten from a month to month basis, you get to stay on top of the most current changes in mortgage underwriting. Guy is also a licensed mortgage agent for more than 10 years and currently licensed through Centum Metrocapp in Toronto, Ontario. Working with investors to obtain approvals on rentals from single family homes to multi-residential units, Guy has a deep understanding about rental cash flow and how it effects any investor portfolio. The added experience of also being a private lender, Guy has seen upfront the effect of private lending throughout Canada and thoroughly understand the underwriting process.

Underwriting guidelines for Rent To Own - What lenders are looking for in Mortgage Underwriting After attending Webinar #1, you are now prepared to go into more detail about a file and how to put together a rent to own deal. This is taking an application and analyzing income, debts on a credit bureau and sizing up the opportunity in knowing if this is the right tenant buyer and home to invest into. We will be looking at what size of down payment should be required, debt elimination and credit rebuilding that will be required for all National Insurers to approve the exit high ratio mortgage in the future. We will be looking in detail of the underwriting rules of rent to own for wording on contracts and minimum beacon score. The length of the program will be looked at and how past debts, consumer proposal or bankruptcy would determine the time to exit a program. You will also get to learn how to price out a deal and how to calculate how much cash flow can be made on the deal and your rate of return.


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