Mission
Helping more people become homeowners.
How it works
1
Register with us to be notified when new Fairstart homes become available.
We purchase a variety of new, existing, and presale properties ranging from studios to townhouses in urban centers across Canada. Register to be notified early when new homes become available and find one that’s right for you.
2
Select a home and apply for an interest-free Shared Equity Mortgage with Fairstart.
When you purchase a Fairstart home, you only need to provide a 5% downpayment as we invest 15% alongside you in the form of a Shared Equity Mortgage. You then obtain a traditional mortgage on the remaining 80% with our partner financial institution.
3
Purchase the home and begin your journey to home ownership.
Your home is just that—yours. You can choose to sell anytime, and you have complete autonomy over decision-making. Fairstart's 15% investment is interest-free and costs you nothing while you own the home. It only gets paid back when you decide to sell or when you refinance at the end of the 10-year term.
Fairstart's difference: Case Study Comparison
| Buying a house | Typical | Fairstart |
|---|---|---|
| Purchase Price | $750K | $750K |
| Downpayment | $50K (6.6%) | -$37.5K (5%) |
| Mortgage Insurance | $28K | $0 |
| Shared Equity Mortgage | $0 | -$112.5K(15%) |
| Total Mortgage | $728K | $600K |
| Monthly Payments | $4,200 | $3,500 |
| Household Income | $180,000 | $145,000 |
With Fairstart, buyers gain $128K at purchase and save $700/month on their monthly payments. A reduction of $35,000 required for family income.
Own a home that’s right for you.
With no interest or repayment for ten years on your Fairstart loan, monthly payments are reduced, further extending your borrowing power.
Pay zero interest on your Fairstart loan.
There’s no interest on your Fairstart loan. Repayment occurs when you sell, or after ten years when you have built equity in your home and you refinance your primary mortgage.
Share the investment opportunity and the risk.
A shared equity loan means Fairstart’s second mortgage is tied to the value of your home. The value of our share—the amount you owe—goes up or down with the value of the home.
Get notified when new Fairstart homes become available.
We’ll be sharing new listing opportunities for 2024. Register to join a growing list of interested buyers and receive early updates on new homes as they become available.