PROPIO is a Chilean homeownership program that helps people save toward their own home by purchasing the property on their behalf while they pay monthly installments. The company fixes the home's price upfront, allowing customers to benefit from any appreciation in value and buy the property at any time during the program. With a minimum savings requirement of 7% of the property value, PROPIO also offers flexibility if plans change, allowing participants to recover their savings.
Funding
Funding not disclosed
Founders
Product
Problem
Many people struggle to save enough for a down payment on a home while also managing existing debt, delaying their path to homeownership. Traditional mortgage requirements often create barriers, especially for those with limited savings or who need more time to build credit. This leaves many individuals stuck renting or unable to access the housing market.
Solution
PROPIO offers a structured homeownership program where the company purchases the property on the customer's behalf, allowing them to move in immediately while paying monthly installments. The program fixes the home's price upfront, ensuring customers benefit from any property appreciation. Participants can buy the home at any time during the program, and if their plans change, they can recover their savings. The company provides continuous assistance with saving and debt reduction, helping customers build toward full ownership. With a minimum requirement of just 7% of the property value saved, PROPIO makes homeownership more accessible. The program also includes a prequalification process and document review to guide customers through each step.
Target Audience
Primary customers are Chilean residents or foreigners with permanent residency who have at least 7% of a property's value saved and are seeking a flexible path to homeownership without traditional mortgage barriers.
Features
- Fixed property price locked in at program entry, protecting customers from market appreciation
- Minimum savings requirement of only 7% of the property value
- Option to purchase the home at any time during the program
- Flexibility to recover savings if plans change
- Properties available with immediate or near-term delivery up to UF 6000 plus parking
- Eligibility for Chilean residents or those with permanent residency (or in process)
- Age limit of 52 years, with exceptions considered on a case-by-case basis
- Structured process including prequalification, document review, property purchase, and eventual mortgage transfer