House prices right now are ridiculous!
How can we afford to upsize? Yet we're running out of space!
Rent is as expensive as paying a mortgage now!
I hear these comments all the time.
And I get it. The housing market has been bonkers for the last few years.
The Bank of Canada's interest rate hikes and stalls hasn't helped either. Are they going up further. Will they come down.
Is it worth the risk????
Well .... I have a solution.
A pretty incredible solution for anyone that doesn't want to gamble on the housing market.
Yet wants to get into it. Needs to buy something. Or wants to move up or sideways.
This is a relatively NEW service to the industry.
A company called Ourboro has pioneered this with wide appeal in Ontario.
As long as you have the first 5% down, Ourboro will give you the other 15%.
It costs you NOTHING....up front!
The way Ourboro makes money is in the sale or refinance of the home.
At the time the home is sold, they will take THEIR part of the profit made (after the mortgage payment equity you have earned).
This is based on the % they lent you in the first place.
Here's a simple example:
👉🏼You put 10% down (100k)
👉🏼Ourboro puts 10% down (100k)
👉🏼The house is purchased for 1 million dollars.
👉🏼Three years later you sell!
👉🏼The house sells for 1.2 million.
Ourboro takes their original 100k and the increase in value of 100k.
YOU take home your original 100k. PLUS ALL the equity earned by paying down the mortgage. PLUS another 100K in the increased sale price!
So you could, in theory, walk away with 250K in cash after three years of ownership. Dependent on your mortgage terms and the market conditions!
If you'd like more info on how this all works, text me on (905) 407-9837 OR message me through the website.
I'd be happy to help.