Down Payment Assistance Program!

Ourboro Shared Equity purchase financing is a new way to buy and own your home.

By contributing 5%-15% of the home’s value to help you reach a 20% down payment, we’re purchasing a share in the future value of your home.

We’re not a lender. Instead, we co-own alongside you. 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.

Step 1 

See how much Ourboro can contribute

Start by submitting your application. If it seems like a good fit, we’ll invite you to a call to learn more about your homebuying goals and answer your co-ownership questions.

Once you receive your mortgage pre-approval from one of our approved lenders, 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.

Step 2

Find your new home

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.

You will have access to Ourboro’s custom-built property search tool to help analyze and filter listings, showing you homes that we believe will meet your needs and grow in value over time.

Step 3 

Determine our ownership share

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 we each contribute half of the down payment, we would share the home’s available equity 50/50. If you contribute 25% of the down payment and Ourboro contributes 75%, you would have a 25% stake in the home’s 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.

 Buyer Eligibility Criteria

Your client is eligible to co-buy with Ourboro if they:

Are Canadian citizens or permanent residents

Are looking to purchase a home as their principal residence

Are looking to purchase a home between $550,000 and $2,500,000

Are looking to purchase property in one of our investment regions

Have saved between 5-15% toward the total purchase price of the home

Have the income and financial standing necessary to qualify for and support a mortgage

Ideally, are looking to live in the home for less than 10 years.

Property Criteria

• The property must be a resale, not purchased pre-construction or through an assignment sale

• The property can not be a part of a co-operative

• The property must be in ‘reasonable living condition’, meaning that all critical infrastructure such as walls, flooring, roofing, HVAC, electrical, and plumbing are in place and in good working order

• Ourboro is not able to invest in condos built prior to 1980

• Rural properties, or those on a septic system, are less likely to be approved by Ourboro

• Properties with broker remarks that may be indicators of marketability concerns, such as deaths on the property, and outdated or previously banned building materials should also be considered cautiously and certainly be shared with Ourboro in advance.

Apply Now!