.svg)
Let’s assume you buy a house worth $1 million. With Lotly you would need less than $80 thousand up front. Now assume you pay your mortgage each month and the home appreciates to $1.36M in 5 years (8% annual appreciation). At this point you’d have a total of just under $250 thousand in equity. The $250 thousand is made up part of your initial payment ($50 thousand), your piece of the appreciation ($90 thousand), and what you’ve paid down on the mortgage ($110 thousand).
Lotly fund contributes up to 15% of your down payment. You’ll put down as little as 5% and other purchase costs (approx 3%).
You own and live in your home. You are responsible for paying the mortgage and monthly bills.
Buy us out through a sale or refinance. Lotly gets back our initial contribution plus our share of the home’s appreciation. We only make money if you do, i.e. when the home has increased in value.
Don’t wait to save a large down payment. While rent can be cheaper than a mortgage, you create more wealth by building home equity.
Don’t settle for what you don’t want. Co-buying with Lotly increases your max purchase price so you can buy a home you’ll love right away.
.svg)
Maybe you don’t want your lifestyle to change. Maybe you want to invest the rest of your savings elsewhere. With Lotly, you decide what you put in.
.svg)
You decide the amount of down payment you put in from 5% up. The more you put down, the more home equity you keep. No matter what, you always have the majority of home equity.
You can contribute a minimum of 5% toward the down payment. The more you put down, the more home equity you keep.
Lotly receives our original down payment contribution plus our share of the home's appreciation (i.e. the change in value). Payout is calculated based on the upfront contribution.
*Calculation based on $900,000 property in GTA, 7% home price appreciation, 5.5% mortgage rate, 25yr amortization
.svg)
