February 01, 2022Home Truths About Co-ownership
A new feature article in Storey’s highlights the momentum that Peerage Realty partner, Ourboro, is gaining with its co-ownership financing model for first-time homebuyers.
Ourboro acts as a co-investing partner to make home ownership accessible for those without a large enough down payment saved. The company makes an up-front investment in a residential property alongside the homeowner, taking a passive, long-term equity interest. When the house is sold, Ourboro receives its percentage of the profit (or loss, should there be one). This inniovative model is an alternative to second mortgage products or other debt-based solutions for sourcing a down payment. By breaking the cycle of trying to save while renting (especially with rents climbing across the country, along with the basic cost of living), the company increases access to one of the most stable forms of investment and wealth creation.
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Peerage Realty Partners is a subsidiary of Peerage Capital Group.