Toperty facilitates homeownership by purchasing properties on behalf of clients, allowing them to make monthly payments while building their down payment. This approach eliminates the need for a large upfront payment and helps clients improve their credit scores through financial education.
Funding
$120K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many individuals are unable to purchase a home due to the requirement of a large upfront down payment. Traditional home-buying processes can also be complicated and inaccessible, particularly for those with limited credit history or financial literacy.
Solution
Toperty offers a rent-to-own program that allows clients to acquire a home with a low initial payment. Toperty purchases the desired property on behalf of the client, who then makes monthly payments that contribute towards building their down payment. The program includes financial education resources designed to improve credit scores and prepare clients for traditional mortgage financing. Once the client has accumulated 20-30% of the home's value, Toperty assists them in securing a mortgage to purchase the remaining portion of the property.
Target Audience
Toperty's primary customers are individuals and families who aspire to homeownership but are hindered by the need for a large down payment or have limited access to traditional mortgage options.
Features
- Property acquisition service: Toperty purchases the client's desired home.
- Monthly payment plan: Payments contribute to building the down payment.
- Financial education: Resources to improve credit scores and financial literacy.
- Mortgage assistance: Guidance in securing a traditional mortgage.
- Flexible program: Adapts to individual financial situations.