How can we help you?

Homr is a technology platform that offers a rent-to-own program to help you build your down payment and credit while living in your dream home, so you are ready to become the owner within a 3-year period.

• Our mission: To create a new path to homeownership. Innovative. Inclusive. Accessible.

Unlike renting, our program allows you to become the owner of the home you have chosen within a 3-year period at a price set from day 1, without even having to move. Additionally, our program offers the following benefits:

• • A portion of the rent paid monthly will be used for your down payment when purchasing your home
• • You can choose from virtually all the homes for sale which one you want to live in
• • You can decorate your home as you like and as if it were your own.
• • No one can evict you as long as you fulfill your obligations
• Want to know more? Sign up to find out if you are eligible for our program

Notre programme s'adresse à vous si:

• • You need a helping hand to accumulate the down payment required to purchase a home
• • Your credit score is not quite up to what it should be to get approved for a mortgage
• • You are hesitant and prefer to live in the chosen neighborhood and home before becoming the owner
• • You have a new status, a new job, or have been self-employed for less than two years

Homr is not a lender. Homr secures the purchase of the home and allows you to occupy it. Our goal is for you to become eligible for a mortgage within a 3-year period.

Once pre-approved, the aspiring-homeowner must pay a fee of $75 to initiate the official approval process. This amount will be added to their down payment if their project materializes. An amount between 2%-5% of the purchase price (applicable based on your credit score) will be required to participate in the program to start building your down payment. You will also have a monthly payment, a portion of which will be applicable to your down payment when you are ready to buy the home.

Homr's revenue comes from the fees charged to its investors, who in turn make income based on the monthly payment paid by the prospective homeowner and the increase in the house's value. A portion of Homr's income directly depends on the aspiring-homeowner's success in completing our program.

Although the goal of the rent-to-own program is for you to become a homeowner, you can change your mind and leave the program, but only after the specified 3-year period. At that time, we will return the money accumulated for your down payment, minus a 3% fee for the resale of the home.

Our program is initially offered in certain cities in Quebec only, including the Greater Montreal area and Quebec City. Our goal being to expand the application of our program to several cities in Quebec as quickly as possible, do not hesitate to check your eligibility regardless of the area you are searching in so that you will be informed as soon as our program becomes available in your region.

You just need to sign up and complete the pre-approval questionnaire. This is free, without obligation, and does not affect your credit. You will then receive a pre-approval confirmation with an estimated budget to shop for your home.

• If you wish to proceed with the program, we will ask you to send us documents supporting your responses given in the pre-approval process, which we will analyze in order to give you a final approval and budget. We will also ask for your consent at this stage to conduct a credit check and background verification.

We try to give as many people as possible the opportunity to participate in our program. However, we still require that the future participant meet the following criteria to be eligible for the program:

• • Minimum credit score: 550
• • Minimum gross income of the applicant (with potential co-occupant): $55,000
• • Stable income for the past 6 months (income can be from various sources)
• • Possession of an amount between 2%-5% of the purchase price (depending on your credit score)
• • If you have filed a consumer proposal, you have paid all the debts included in it for at least 1 year
• • It is possible to be eligible even after having declared bankruptcy, but depending on the timing of it, you may have to pay a higher initial amount when purchasing the house, and the rent amount could be increased to ensure that you have accumulated the necessary down payment to be eligible for a mortgage in 3 years
• • You must not be a 'non-Canadian' as defined by the Act Prohibiting the Purchase of Residential Property by Non-Canadians
• If you are not eligible at the moment, please consult our education section to prepare as soon as possible with our financial tips.

Not at the pre-approval stage. However, when we conduct a complete study of your credit at the approval stage, our study will be visible on your file.

Our goal is for you to be able to qualify for a mortgage within a 3-year period. Therefore, we take into account your income as well as your debts.

You can choose from all the homes for sale that meet the following criteria:

• • Purchase price between $200,000 et $600,000
• • Sale with legal warranties
• • In good condition, safe, and habitable
• • Without major issues such as foundation, bricks, roof, pests, mold, doors and windows, and water infiltration.
• • Located outside of flood zones and without the presence of asbestos or lead in the water supply
• • Land > 5 acres
• • History without suicide, homicide, or cannabis cultivation
• • Neither undivided co-ownerships, nor mobile homes, nor plexes are eligible at the moment

Of course. We can also refer you to one of our partner real estate brokers if you do not have a real estate broker.

You can buy a house on the DuProprio platform, but only if the seller accepts the involvement of a real estate broker and their commission method.

It is Homr that will coordinate the submission of the offer on the house if we consider that it meets the eligibility criteria.

• Once the home is found, your real estate broker will be responsible for informing us and sending us the completed purchase offer, the owner's declaration, the location certificate, any other documents provided by the sellers, and our specific Homr form. A Homr advisor will arrange a discussion with your broker to obtain additional information. It will be the real estate broker's responsibility to present the purchase offer to the seller and handle negotiations if necessary.
• Before submitting the purchase offer, you will need to pay an amount of $500 to Homr, which will be refunded to you if the offer is rejected or will become a credit applied to your down payment if your project materializes. You will also be required to sign a rent-to-own agreement.

We look at comparable sales in the same neighborhood. We aim to make a competitive offer to allow you to get the house of your choice, but we cannot guarantee that our offer will be accepted. When there are multiple offers on a house, people are sometimes willing to offer a purchase price well above market value to secure it, which Homr does not do.

Yes, we will send a qualified inspector for any house that is more than 1 year old. It is possible that once the inspection is completed, we may decide not to proceed with the purchase if the inspection report reveals major work to be done or if the house does not meet an eligibility criterion for our rent-to-own program.

Within 48 hours of the acceptance of the offer, you will need to send an amount between 2% to 5% of the purchase price, which will become a credit applied to your down payment when purchasing the home. Once all conditions in the offer are met, a closing date for the sale will be agreed upon. You will be required to transfer a security deposit representing the monthly payment for the first and last months of the 3-year term 7 days before the purchase.

You become an occupant and must adhere to the obligations outlined in the rent-to-own contract. We also refer you to the Webinar and Quiz that you must complete before moving into the house.

You will have to pay a monthly installment that is determined based on the value, size, features, and location of the home, as well as the down payment you want to accumulate.

Homr pays for the closing costs when purchasing the house.

You become an occupant and must adhere to the obligations outlined in the rent-to-own contract. We also refer you to the Webinar and Quiz that you must complete before moving into the house.

Yes, we will report your monthly payments to Equifax, which could improve your credit score by 40 to 100 points if you pay all your installments on time.

A portion of the monthly payment will be applied to your down payment when purchasing the house, so you should have accumulated a credit equivalent to at least 5.5% of the purchase price when buying the home.

All work necessary for safety and to ensure that the home remains habitable (such as the structure, roof, electricity, and plumbing) will be paid for by Homr. Your responsibility is to notify Homr as soon as possible of the need for such work by sending an email to contact@homrsolutions.ca and finding the contractor to perform the work. The contractor's quote must be approved by Homr; otherwise, Homr will not pay for the work.

• Since the work performed adds value to the home, the costs of home.

You can carry out any improvement and cosmetic work of your choice that does not require a city permit and is not major work. These will be at your expense.

Yes, we ask you to take liability insurance as well as insurance for your belongings since our insurance does not cover them.

Homr pays the transfer taxes at the initial purchase of the home as well as the municipal and school taxes for the duration of the occupancy right.