The goal of rent-to-own startups: Help more Canadians purchase and profit off realestate. loadedlove OurboroHQ MichaelSugar realestatenews housingmarket
. “We’re trying to bridge the down payment gap for those who don’t have intergenerational wealth so that they can break into the market and own the property where they live.”The startup launched earlier this year with the goal of helping more Canadians purchase and profit off real estate. They help cover the down payment of the home, co-investing between 5% and 15% in homes costing between $550,000 and $2.5M.
Pope says he got interested in the rent-to-own model after realizing there was a growing community of unrelated adults pooling their assets together and then purchasing homes and dividing the space. According to Loans Canada, the minimum credit score needed to get approved for a mortgage in 2022 is 640. Requity allows those with credit score 500 and above to qualify, done so with certain conditions. A minimum of 2% to 10% of the deposit is needed up front.
The plan is to expand across the country and serve 10,000 families over the next five years. Both Ourboro and Requity also partner with local realtors who recommend buyers underserved because of their financial situation.is a mortgage specialist with 17 years of experience and specializes in private mortgages, which, he says, has led him more into the rent-to-own space.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BRIDGE REPLACEMENT: Queensway to close for five days starting Aug. 11 for Booth Street bridge projectA massive bridge replacement will close Highway 417 in both eastbound and westbound directions for at least five days from Thursday, Aug. 11 to Monday, Aug. 15,
Read more »
Regent Park was one of Canada’s largest social housing neighbourhoods. Now, a studio there costs more than $2,000 to rentRegent Park was one of Canada’s largest social housing neighbourhoods. Now, a studio there costs more than $2,000 to rent.
Read more »
INTERPROVINCIAL CROSSING: Chaudière Bridge to be closed for repairs this weekThe Chaudière Bridge will be closed to traffic this week to accommodate repairs, officials said.
Read more »
Chaudière Bridge to be closed for repairs this weekThe Chaudière Bridge will be closed to traffic this week to accommodate repairs, officials said.
Read more »
Paramedics, firefighters cooperate to rescue man who fell down slope under Alexandra BridgeParamedics, firefighters cooperate to rescue man who fell down slope under Alexandra Bridge
Read more »
Man who fell down slope under Alexandra Bridge rescued by paramedics, firefightersParamedics, firefighters cooperate to rescue man who fell down slope under Alexandra Bridge
Read more »