Frequently Asked Questions

Yes, there is an option fee due upfront that is applied against the home purchase price once you exercise your option to purchase.

Yes, but any renovations or improvements of any nature are subject to certain requirements and protocols that need to be followed as set out by the landlord/Optionor.

We want you to have a thorough understanding of the scope of the journey you’re about to embark on!  We not only suggest but require you to obtain a certificate of independent legal advice prior to the transaction closing.

You can purchase your home any time during the term.

You can always choose to opt out of the option to purchase program at any time.  Opting out of the option to purchase would not get you evicted.  You would still be able to rent the home and occupy it as a tenant within the terms, conditions and provisions of your Residential Tenancy Agreement.

All the option money is held, treated, and collected separately up until the tenant buyer (Optionee) has either exercised or opted out of their Option to Purchase Agreement.

One of the things that differentiates HTH is that we have no minimum credit score requirement.  Our focus is on doing our best to provide our tenant buyers with all the necessary tools to improve their credit and qualify for a conventional mortgage to own their home down the line.

If you are aware that a payment will be missed, we recommend that you contact your HTH representative 3-5 business days before the payment is expected to be missed.  Your HTH representative will be able to discuss your options further and try to come up with a redemption plan.

HTH will be responsible for all the property taxes until the option to purchase has been exercised by the tenant buyer.

The tenant buyer will be responsible for all utilities without exceptions.

Absolutely!  While our program is built to aid Albertans towards the path of home ownership, we may consider tenants who are not interested in the option to purchase.

Once you commit to the Option to Purchase Agreement, the purchase price is not adjusted up or down beyond the provisions of the agreement.  In other words, an increase in the property’s market value would have no impact on the pre-agreed upon exercise price so the tenant buyer would be the only party that benefits from the increase once the option is exercised.

Roommates are permitted subject to HTH due diligence and approval in writing.

Typical pet fees are $35.00 for one pet and $50.00 for two pets.  This is also subject to HTH due diligence and approval in writing.  Please note that Pet Fees are subject to change without notice.

A complete application is required to be submitted along with all applicable supporting documentation.  The required supporting documents are outlined in the application package but if you have any questions whatsoever do not hesitate to email us at info@housetohomeequity.ca or contact us by phone at 1-844-238-4270.

There are no limitations on how much you can put towards the purchase price of your home.

Properties must be located within the boundaries of Edmonton, Sherwood Park, St. Albert, Spruce Grove, Leduc, Fort Saskatchewan, Beaumont, Stony Plain, Morinville or Devon.

It takes 1-2business days for our team to issue a commitment letter with your approval parameters.  This timeline is subject to us receiving the fully completed application along with all supporting documentation.

The average build time is 3-6 months from the date of the commitment.

All HTH homes are turnkey homes that include fencing and landscaping unless otherwise agreed upon.

All HTH homes come with a full appliance package including a washer and dryer.

Yes, we require both the damage deposit and first month’s rent prior to moving in.

Both terms are typically 36 months for tenant buyers enrolled in our program and 12 months for tenants that are not enrolled in our program.

At HTH, we understand that life can be unpredictable.  Provided you and/or your co-applicant(s) are temporarily able to cash flow the transaction, your specific employment is not an explicit requirement to apply for our program.

The final purchase price of your home is determined at the outset as noted in the terms and conditions of your Option to Purchase Agreement.  The purchase price will depend on your specific build type, size, finishings, and location which would all be based on the builder’s standard pricing.  Your purchase price is locked in within the parameters of the Option to Purchase Agreement, so it is not impacted up or down by market conditions at the end of the term.  If the property values increase in three years, and you decide to exercise on your option to purchase, the only benefiting party would be you!

Regular maintenance is the responsibility of the tenant.

Our payments are typically higher than a mortgage would be as it is based on the tenant buyer paying both market rent and an additional monthly option fee.  This option fee is applied against the purchase price when the tenant buyer chooses to exercise their option to purchase.

There is the option to extend your contracts should you not qualify for a conventional mortgage at the end of your first term.  Any renewal or extension request must be made in writing at least 30 days prior to the agreement’s expiration and all approvals will be at HTH’s sole discretion and subject to further due diligence by HTH And its legal counsel as applicable.

Previous bankruptcies do not affect your ability to apply for our program.