We buy your choice of home for you, taking on the mortgage. You move in and make monthly payments until you're ready to take on full ownership at the end of your 5 year term.
Explore How
Your simple pathway to homeownership with Key
Submit your application, get approved, and set your home shopping budget.
We help you buy the home of your choice. We take care of the land transfer tax and legal fees.
Start owning
Pay your down payment (as low as 2.5%) and move in.
While your equity grows over the course of the term, you benefit from the increasing home value.
Your monthly payments are a combination of your occupancy payments and equity contributions. Your equity contributions also grow with your home's value.
Our program is designed so your equity growth and deposits will provide enough equity to become full owner of the home in 5 years. We exit the agreement and you’re the sole homeowner 🏡
Let's crunch those numbers.
Welcome to our FAQ section! We’ve compiled a list of commonly asked questions to provide you with quick and informative answers.
Are there any geographical restrictions for home purchases?
We are currently limiting purchases to Ontario but expect to expand to other provinces soon.
What are the financial requirements for this program?
When you apply to become a homeowner with Key, we will need to verify your financial information, including proof of income and credit history. Applicants are assessed on a case-by-case basis.
Is there a minimum down payment I need to make?
The minimum down payment is 2.5% of the home price. The initial down payment and ongoing equity contributions you make will be credited toward your final purchase price at the end of your term.
Are home offers conditional on anything?
Yes, offers to purchase homes depend on a favorable home inspection that doesn’t reveal material issues such as structural damage, hazardous substances, prior infestations, or other issues that neither of us want. You will also have a chance to review the contract with your lawyer before we finalize the deal.
Am I obligated to become the sole owner at the end of my term?
Yes, you are committing to buying the full home from us by the end of your initial term. You will know the price at the start of the program, and your monthly equity deposits will prepare you for sole ownership.
Who will purchase my home with me?
Homes will be purchased by a passive real estate fund and Key will administer the program on behalf of the fund.
How will I find my dream home?
We will pair you with one of our realtor partners who will send you home listings that fit within your home budget. Once you see something you like, you will set up a tour. If you find a home you absolutely want to own, we will place an offer on it.
Will I be paying market rent each month?
Your monthly payment is comparable to carrying costs of a home you own. The payment also includes an additional amount which will go towards your down payment savings account - and unlike other programs both your initial and subsequent down payment amounts (equity deposits) grows with the value of the home. You will also be responsible for repairs and maintenance that takes place during your term. This program is for those who don’t wish to part ways with a large down payment right away, but can carry the costs of being a homeowner today.
What information will I need to submit during the pre-qualification process?
In order to verify your information, our seamless automated verification process will prompt you to connect your bank account, provide your SIN and submit a photo ID.
How long is my term with Key?
Initially, terms will start at 5 years. That means we will put you on the right path to buy the home from us during your 5-year term. Terms may be extended for an extra year at our discretion.
Is there a limit to how expensive a home can be?
Our is designed for homes that are priced below $1 million. After learning more about you and your financial situation, we can establish the proper home budget for you.
What types of homes will I be able to buy?
Condos, semis, townhomes and detached are all fair game - subject to your home budget.
With Key, you become a homeowner sooner without spending years saving for a large down payment or committing to a mortgage.
Key vs. Traditional Ownership
With Key, your monthly payments go towards owning your home, instead of making your landlord richer.
Key vs. Renting
Unlike Rent-to-Own, with Key, you gain equity in your home right from the moment you move in.
Key vs. Rent-to-Own
