Many individual can not buy a home due to high prices, stagnant wages, and cumbersome mortgage rates and approvals. We are here to level the playing field by creating the possibilities to enjoy the benefits of owning a home through our BlacPay+R2O culture.
Homeownership leads to wealth creation and financial stability, to bridge that gap we are disrupting the housing industry with the aim to break through traditional barriers giving everyone a shot at owning their own home.
The mortgage industry is behind with the changing trends.
Mortgage requirements have gotten more restrictive with very high interest rates while the growing population’s finance are more complex than ever, millions are excluded from homeownership, not because they can’t afford it but because of the bottlenecks in the industry. That’s what we are passionate to change. BlacPay+R2O represents a new way to think about homeownership.
How does the application process work?
BlacPay+R2O’s application is the key aspect to carryout a background check, and only takes 5 minutes. Don’t worry if your financial picture isn’t perfect—we get that life happens. Once we’ve verified your income and savings, you’ll get your BlacPay+R2O-approved home budget within 20 business days.
What homes are eligible?
BlacPay+R2O allows you shop homes that are listed for sale and within your BlacPay+R2O approved budget. There are a few exceptions–like no mobile homes–but generally, most homes work. Go home shopping with our approved real estate agent, as we’ll pair you with one of our trusted agents. Once you choose the home, we buy it.
Who takes care of the inspection, closing costs, homeowners insurance & property taxes?
Because BlacPay+R2O will own the home while you're saving up to buy it from us, we make sure that what we buy is a solid investment and in good shape for the long haul. We take care of the inspection, closing costs, property taxes, and homeowners insurance.
When can I buy my home from BlacPay+R2O?
You can buy the home at any time after your 3-5-year lease. We offer two buyback prices: a lower one if you purchase your home before the 30-month mark and higher one if you buy in the second half of your lease.
Am I tied in for 5 years?
We get that things change and that you may need to end up moving instead of buying back. You can walk away at any point, and we’ll cash you out your 65% of the one fourth of your equity contribution as re-listing fee.
How does BlacPay+R2O make money?
BlacPay+R2O makes money from your monthly rent payments and from the home’s appreciation over time (ACCRETION). That’s it. What’s unique about BlacPay+R2O is how we share the benefits of homeownership:
Save for a future with ZERO down payment.
About ¼ of every monthly payment goes toward your accretion. Whenever you’re ready, you can either use those savings to buy the home from us or cash it out minus a 65% re-listing fee.
Benefit from home appreciation
We’ll give you a preset future purchase price at which you can buy the home from us. Even if the home increases in value, it doesn’t change your price.
BlacPay+R2O only looks at your last 3 months of income, which means we’re a great option if you’re self employed or recently started a new job and need more time to fully document your income.
You can’t save up for down payment
Saving up for a home purchase can be challenging. With BlacPay+R2O, you’ll save up little by little with each monthly payment at a zero down payment.