HOW IT WORKS
As your co-investor, we purchase a share in the future value of your home.
Once you are living in your home, we offer programs and services to help preserve and increase its value so that together we can share in the profit when it is sold.
HOW IT WORKS
As your co-investor, we purchase a share in the future value of your home.
Once you are living in your home, we offer programs and services to help preserve and increase its value so that together we can share in the profit when it is sold.
We would like to say a big thank you for making our dream of owning our 1st home in Canada a reality. Always very accommodating and supportive with great advice and service.
Start by submitting your application. If it seems like a good fit, we’ll invite you to a call to learn more about our product.
Once you receive your mortgage pre-approval from one of our approved lenders, via a third-party licensed mortgage broker, you’ll be able to lock in Ourboro’s maximum down payment contribution. Ourboro’s contribution can be between 5% to 15% of the purchase price, up to a maximum of $250,000.
We’ll pair you with one of our partner real estate agents who is specially trained to guide you through the homebuying journey with us. They’ll help you analyze and filter listings, showing you homes that we believe will meet your needs and grow in value over time.
If you have a real estate agent that you’re already working with, we’re happy to onboard them to our processes.
When we co-buy a home, the percentage of the down payment that we each contribute translates into the percentage of equity we have in the home. This determines how the home’s appreciation is shared when it is sold.
So, if you contribute 40% of the down payment and Ourboro contributes 60%, you would have a 40% stake in the home’s available equity.
The money that we invest into your home is not a loan to you, we are buying a share in the future value of the home. That is why there is no interest or monthly payments.
Think of us as your silent co-buying partner. Most of the time you won’t hear from us, but we’ll always be there to support you when you need it.
As part of the Ourboro community, you can take advantage of programs like our Homeowner Advance Fund for financial support on a rainy day, and we’re always happy to connect you with trusted third-party services for maintenance, renovations, and financing.
Since you get all the benefits of living in the home, it is your responsibility to keep it properly maintained and pay the associated costs.
As co-owners, we both want to maintain the home’s value and protect our investments. Though the home’s maintenance is your responsibility, we offer a complimentary home maintenance service to help stay ahead of problems in the home and make sure that everything is operating as it should.
Make minor changes to your home entirely at your own discretion. Major updates may even qualify for a renovation credit.
This means, if the renovation increases the home’s value, we’ll pay you back for some, or all, of the costs incurred when the home is sold.
We can co-own the home together for up to 30 years. Of course, you are free to sell the home, or make an offer to buy our share, at any time.
Keep in mind, our co-ownership model is ideal for those that are looking to sell within the first 10 years. This shorter time frame allows you to get into the market and grow your investment, without having to share decades worth of appreciation with Ourboro.
When the home is sold, your mortgage principal payments will be taken from the sale proceeds and set aside for you first before we split the remainder.
This means the money you’ve paid toward your mortgage is protected, even if the home doesn’t increase in value.
After any final adjustments, we’ll divide the remaining proceeds according to our ownership shares in the home. You’ll walk away with your mortgage payments plus the appreciated value of your original down payment.
Ourboro will receive the appreciated value of our down payment contribution. Don’t worry, if the home hasn’t increased, or has decreased, in value we will accept the loss on our investment and you won’t owe us anything.
We’ll provide you access to the best agents, resources, and services for the sale process just like we did when we helped you buy.
The equity you earned through the sale of your home can now help you with the purchase for your next property. We might even be able to co-buy that with you too!
Start by submitting your application. If it seems like a good fit, we’ll invite you to a call to learn more about our product.
Once you receive your mortgage pre-approval from one of our approved lenders, via a third-party licensed mortgage broker, you’ll be able to lock in Ourboro’s maximum down payment contribution. Ourboro’s contribution can be between 5% to 15% of the purchase price, up to a maximum of $250,000.
We’ll pair you with one of our partner real estate agents who is specially trained to guide you through the homebuying journey with us. They’ll help you analyze and filter listings, showing you homes that we believe will meet your needs and grow in value over time.
If you have a real estate agent that you’re already working with, we’re happy to onboard them to our processes.
When we co-buy a home, the percentage of the down payment that we each contribute translates into the percentage of equity we have in the home. This determines how the home’s appreciation is shared when it is sold.
So, if you contribute 40% of the down payment and Ourboro contributes 60%, you would have a 40% stake in the home’s available equity.
The money that we invest into your home is not a loan to you, we are buying a share in the future value of the home. That is why there is no interest or monthly payments.
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