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How Can I Buy a Home with Bad Credit in Peterborough
A strong credit score is required to qualify for a traditional mortgage, but if your credit isn’t where it needs to be, that doesn’t mean homeownership is out of reach.
At Sprout Properties, we offer a flexible rent-to-own program that can help you purchase any home listed for sale in Peterborough, regardless of your current credit situation. Our program is designed for buyers who are working on improving their finances but are ready to take the next step toward owning a home.
Contact us today to learn how we can help turn your homeownership goals into reality.
Why Rent to Own in Peterborough
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Move into your future home now—no need to wait for mortgage qualification
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Lock in current prices—average resale home ranged around $623K–$646K in early 2025, with a modest dip since last year—creating a strategic entry point
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Build equity gradually through structured rent-to-own payments, easing today’s financial strain while improving credit
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Benefit from a more balanced market—with rising inventory and steady sales—offering leverage and choice
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Position yourself for the future: the market is expected to shift toward a buyer’s edge in 2025, with forecasted ~5% price growth and moderate listing increases
Peterborough shines as a mid-sized city offering affordability, lifestyle, economic stability, and growth potential. A rent-to-own pathway here lets you live where you want now, build wealth over time, and benefit as the region continues to evolve.
Rent to Own Peterborough and Area Requirements
Minimum Household Income
$140,000
Minimum Down Payment
$25,000
*While we generally look for a minimum credit score of 500, please note that this requirement is subject to change.
Minimum Credit
500*
Do you meet the requirements for Rent-to-own in Peterborough, Ontario and area?
Our goal is to support your long-term success, not just helping you move into a home, but ensuring you’re fully prepared to qualify for a mortgage by the end of your Rent-to-Own term.
To do that, certain minimum criteria need to be in place. If you’re not quite there yet, that’s okay—it may simply mean the timing isn’t right.
You can still apply now to get connected and receive more information, and we’ll happily guide you toward your next steps so you're ready when the time is right.
Peterborough Key Features
Population & Location
City proper holds ~83,650 residents (metro ~129K), located ~125 km northeast of Toronto and known as the “Gateway to the Kawarthas”
Economic Diversity
Economy (~$4.9 B GDP) supported by health care, manufacturing (Siemens, Merit Precision), education, tourism, and cleantech. Tourism alone draws ~3 M visitors annually with $300 M spent
Education & Innovation
Home to Trent University and Fleming College, plus the Cleantech Commons—fueling R&D and a talented workforce
Culture & Recreation
Vibrant arts scene with Market Hall, Art Gallery, Musicfest (110K annual visitors), Folk Festival, riverfront recreation, trails, provincial parks like Kawartha Highlands
Connectivity & Services
Well-served by Highway 115/7, close to Toronto and cottage country, with train/bus options and municipal investments in trails and riverfront improvements.
Best Areas to Buy a Rent to Own Home in Peterborough, Ontario
East City
Full of charm and character, East City is one of Peterborough’s most beloved neighbourhoods. With heritage homes, river trails, and a growing café scene, it’s ideal for those who value walkability, community spirit, and a mix of urban and small-town vibes.
The Avenues/Old West End
Known for its beautiful century homes and tree-lined streets, this historic area blends elegance with a strong sense of community. Close to downtown and local schools, it’s perfect for families, professionals, and those who appreciate timeless architecture.
Hospital Area
Centrally located near Peterborough Regional Health Centre, this neighbourhood offers a mix of older homes and infill developments. It’s a great choice for healthcare workers, students, and anyone who wants to live close to transit, parks, and the downtown core.
North Peterborough
A growing suburban area with a mix of new builds and established streets, North Peterborough is family-friendly and well-connected. With schools, parks, and shopping nearby, it offers convenient living just outside the city centre.
Lakefield
Located just north of Peterborough, Lakefield is a picturesque village known for its waterfront views, strong community, and charming downtown. It’s a popular choice for retirees, families, and those seeking a quieter lifestyle with easy access to the city.
Keene
Set near the shores of Rice Lake, Keene is a quaint village known for its beauty, small-town atmosphere, and outdoor lifestyle. With local farms, marinas, and community events, it’s a great option for those who want a laid-back life near water and wilderness.
Verified Google Reviews
What Our Clients Say
Brandy, Tom & the crew at Sprout Properties are wonderful to work with! They care about their tenant clients, investor clients & work collaboratively with local Realtors. It has been a true pleasure to work with Sprout Properties & help families achieve their dream of home ownership. Sprout Properties are professional, courteous and caring people that I hope to work with for many years to come!
Tanya VandenBerg