Are you dreaming of owning your own home but facing obstacles like credit challenges, limited savings, being new to Canada, or being self-employed without a lengthy operating history? Requity offers a unique and accessible solution to help you achieve your homeownership goals. Our step-by-step program empowers you to get on the path to homeownership while renting your dream home. Let's explore the simple yet transformative journey towards owning a home with Requity.
Step 1: Application for Pre-Approval
Begin your journey by filling out our quick and free pre-qualification form online. In just two minutes, you can get started on the path to homeownership.
Step 2: Get Approved for a Home Budget
Once you've completed the pre-qualification form, our team will review your application and provide you with a fully approved home shopping budget tailored to your financial situation.
Step 3: Find Your Dream Home
Collaborate with our partner realtor or your own realtor to search for and select your dream home. Requity allows you the flexibility to choose any home listed for sale on the market.
Step 4: We Buy the Home
Requity takes care of the home purchase process, covering closing costs such as land transfer tax and lawyer fees. We ensure a smooth transition to homeownership.
Step 5: Move In and Save Up
Move into your dream home and start saving a portion of your monthly rent towards your down payment. Our program includes a built-in savings plan that helps you grow your savings faster.
Step 6: Buy Back the Home
When you're mortgage-ready, you have the option to buy back the home using your accumulated savings. Alternatively, if you choose to move out, you can cash out your savings. Requity offers flexibility and choice to suit your unique circumstances.
Requity is a Great Fit If:
You have fair credit and need a small credit score boost.
You could benefit from assistance in saving for a down payment.
You're new to Canada and seeking a home without an established credit history.
You're self-employed and don't have the typical two years of operating history.
Who qualifies for Requity Homes?
Generally, we require a minimum credit score of 500, an annual income of $50,000, and at least $5,000 in savings.
What homes are eligible?
You have the freedom to choose from a wide range of homes listed for sale publicly and privately. We focus on freehold move-in ready single-family homes and townhouses in the Edmonton area.
How does Requity Homes make money?
We generate revenue from your rent payments and the appreciation of the home's value. When we purchase the home on your behalf, we cover the costs associated with the transaction, including land transfer taxes and lawyer fees.
Requity provides an innovative and accessible pathway to homeownership for individuals facing credit challenges, limited savings, new immigrants, and self-employed individuals without extensive operating history. Our step-by-step program empowers you to rent your dream home while building equity and saving for your down payment. Take the first step towards homeownership by joining Requity today. Sign up now to embark on your journey to owning a home!