Referral Partner

REFERRAL PARTNERS

Become an Ourboro Referral Partner

Joining the Ourboro network lets you help more of your clients reach their down payment goals, buying the home they want sooner.

We’re partnering with real estate agents, mortgage specialists, and brokerages that are looking for new and innovative ways to help their clients. Partnering with Ourboro allows you to give your client new options, even if they previously felt like homeownership was out of reach.

Attend an upcoming Info Session to learn more about working with Ourboro and be invited to create your Ourboro Referral Partner account. As a Referral Partner you will gain access to Ourboro resources and be able to introduce your clients to co-ownership.

How Does Co-Ownership with Ourboro Work?

Co-owning with Ourboro allows your clients to get into the market sooner by investing in the down payment alongside them. Our investment isn’t a loan, so there is no interest or additional debt. Instead, we buy a share in the future value of the home and, when the owner decides to sell, we each receive our fair share of the gains or losses.

As your client lives in the home we offer programs and services to help preserve and increase the home’s value, maximizing both of our returns.

Homeowners can co-own with us for up to 10-years. The homeowner is free to sell the home or make an offer to buy our share at any time. If they decide they’d like to remain in the home past the 10-year mark they may do so by paying fair market value, as determined by a third-party appraiser, for our share in the property.

When you refer a client to Ourboro you will represent both the homebuyer and Ourboro. Ourboro does not attend showings and our name will not appear on any offer materials. However, you will be required to follow Ourboro guidelines on conducting CMA analysis and making offers. These resources are available for download when you create a partner account with us and additional training will also be available to our partners on what it means to work with Ourboro.

Please note, Ourboro does not collect, or pay, any referral fees to agents who bring buyers to our program.

If you have a client that is ready to buy, but just needs some help with the down payment, register for an upcoming Real Estate Agent Info Session.

Ourboro has built partnerships with select lenders who understand our co-ownership product and are able to offer mortgages to our homebuyers, all at competitive rates. We currently work with a third party brokerage partner to access these mortgages, and thus request that your clients’ mortgage application, should they receive an investment from Ourboro, be co-brokered through our preferred brokerage.

More details on the co-brokerage terms are available through our partner resources as well as through our agent info sessions. Ourboro is not a party to any co-brokered transactions and we do not charge, nor receive any share of commissions or broker fees associated with these transactions.

If you have a client that is ready to buy, but just needs some help with the down payment, register for an upcoming Mortgage Specialist Info Session.

How do I know if my client is eligible?

Be looking to purchase a home in the Greater Toronto Area
Have at least 5% of the purchase price saved to put towards the down payment, plus closing costs
Be able to qualify for the necessary mortgage with one of our lending partners
Be a Canadian citizen or Permanent Resident
Be looking to purchase the home as their primary residence
Be looking to purchase a home between $550,000 and $2,500,000
Have a household income of at least $65,000
If they have a signed offer on a home, there is at least 40 days until closing.
Ideally, be looking to live in the home for less than 10 years