Frequently Asked Questions
Your home is (likely) your biggest asset. You deserve to feel fully confident in your path forward.
Homeowners
How is the home price determined?
Climb Homes offers a highly competitive market-rate offer. The process is simple. You choose how much of your equity you'd like to cash out, and based on your loan-to-value ratio, we pay you that amount. As part of our process, we'll ask you for any disclosures and conduct a video inspection of the home (this takes about 30 minutes). Then we'll provide you with a contingent formal offer on the home. If we agree on a price, we're able to conduct a final property inspection to confirm the details and close on your equity cash out. This whole process can be completed in as little as 2 weeks.
How is the home price determined?
Climb Homes offers a highly competitive market-rate offer. The process is simple. You choose how much of your equity you'd like to cash out, and based on your loan-to-value ratio, we pay you that amount. As part of our process, we'll ask you for any disclosures and conduct a video inspection of the home (this takes about 30 minutes). Then we'll provide you with a contingent formal offer on the home. If we agree on a price, we're able to conduct a final property inspection to confirm the details and close on your equity cash out. This whole process can be completed in as little as 2 weeks.
How is the home price determined?
Climb Homes offers a highly competitive market-rate offer. The process is simple. You choose how much of your equity you'd like to cash out, and based on your loan-to-value ratio, we pay you that amount. As part of our process, we'll ask you for any disclosures and conduct a video inspection of the home (this takes about 30 minutes). Then we'll provide you with a contingent formal offer on the home. If we agree on a price, we're able to conduct a final property inspection to confirm the details and close on your equity cash out. This whole process can be completed in as little as 2 weeks.
What is the Climb Homes Guarantee?
We don't want homeowners to have a doubt in their mind when cashing out their equity with Climb Homes. That's why we offer a guarantee to fully service the financial liability of your property, giving you complete peace of mind.If Climb Homes ever fails to execute on monthly payment obligations, homeowners can elect to have Climb Homes close out on the mortgage within 60 days.
What is the Climb Homes Guarantee?
We don't want homeowners to have a doubt in their mind when cashing out their equity with Climb Homes. That's why we offer a guarantee to fully service the financial liability of your property, giving you complete peace of mind.If Climb Homes ever fails to execute on monthly payment obligations, homeowners can elect to have Climb Homes close out on the mortgage within 60 days.
What is the Climb Homes Guarantee?
We don't want homeowners to have a doubt in their mind when cashing out their equity with Climb Homes. That's why we offer a guarantee to fully service the financial liability of your property, giving you complete peace of mind.If Climb Homes ever fails to execute on monthly payment obligations, homeowners can elect to have Climb Homes close out on the mortgage within 60 days.
How does the long term lease with Climb Homes work?
We manage the full process of sourcing, qualifying and placing the next homeowner. This starts as a lease, but we specifically target people who want to be homeowners but need some time to save for a down payment, or get themselves in a position to purchase. This is a true win-win as it allows you to cash out, and a new homeowner to start enjoying the amenities of the neighborhood and community earlier than they would otherwise be able to. If for any reason Climb Homes can't source the next buyer for the home, we're fully responsible for servicing the mortgage and paying you the 5% premium for the duration of our partnership.
How does the long term lease with Climb Homes work?
We manage the full process of sourcing, qualifying and placing the next homeowner. This starts as a lease, but we specifically target people who want to be homeowners but need some time to save for a down payment, or get themselves in a position to purchase. This is a true win-win as it allows you to cash out, and a new homeowner to start enjoying the amenities of the neighborhood and community earlier than they would otherwise be able to. If for any reason Climb Homes can't source the next buyer for the home, we're fully responsible for servicing the mortgage and paying you the 5% premium for the duration of our partnership.
How does the long term lease with Climb Homes work?
We manage the full process of sourcing, qualifying and placing the next homeowner. This starts as a lease, but we specifically target people who want to be homeowners but need some time to save for a down payment, or get themselves in a position to purchase. This is a true win-win as it allows you to cash out, and a new homeowner to start enjoying the amenities of the neighborhood and community earlier than they would otherwise be able to. If for any reason Climb Homes can't source the next buyer for the home, we're fully responsible for servicing the mortgage and paying you the 5% premium for the duration of our partnership.
How long am I partnered with Climb Homes?
Our goal is for you to walk away with your equity and we partner with investors that plan on managing the property for the duration of your mortgage, or until a prospective owner purchases the home. Due to the investments we make in your financial future and the property, we require a 5-year minimum holding period. We guarantee you the monthly income for the duration of this period, after which you do have the option to trigger a sale of your home. Doing so will impact your participation in the appreciation. For example, in our 100% LTV cash out model, homeowners are eligible to participate in 10% of the appreciation if they wait to collect when Climb brokers the sale of the home. If the homeowner elects to list the property, that appreciation allocation goes to 0%.
How long am I partnered with Climb Homes?
Our goal is for you to walk away with your equity and we partner with investors that plan on managing the property for the duration of your mortgage, or until a prospective owner purchases the home. Due to the investments we make in your financial future and the property, we require a 5-year minimum holding period. We guarantee you the monthly income for the duration of this period, after which you do have the option to trigger a sale of your home. Doing so will impact your participation in the appreciation. For example, in our 100% LTV cash out model, homeowners are eligible to participate in 10% of the appreciation if they wait to collect when Climb brokers the sale of the home. If the homeowner elects to list the property, that appreciation allocation goes to 0%.
How long am I partnered with Climb Homes?
Our goal is for you to walk away with your equity and we partner with investors that plan on managing the property for the duration of your mortgage, or until a prospective owner purchases the home. Due to the investments we make in your financial future and the property, we require a 5-year minimum holding period. We guarantee you the monthly income for the duration of this period, after which you do have the option to trigger a sale of your home. Doing so will impact your participation in the appreciation. For example, in our 100% LTV cash out model, homeowners are eligible to participate in 10% of the appreciation if they wait to collect when Climb brokers the sale of the home. If the homeowner elects to list the property, that appreciation allocation goes to 0%.
Who manages the property?
Climb Homes will take over all maintenance and management. for the property.
Who manages the property?
Climb Homes will take over all maintenance and management. for the property.
Who manages the property?
Climb Homes will take over all maintenance and management. for the property.
Are there any tax benefits?
We encourage you to consult your tax advisor to validate any tax advice. If your home has been a principal residence for at least two years then you are very likely eligible to take advantage of the up to $500k tax free capital gains exclusion under IRS section 121.
Are there any tax benefits?
We encourage you to consult your tax advisor to validate any tax advice. If your home has been a principal residence for at least two years then you are very likely eligible to take advantage of the up to $500k tax free capital gains exclusion under IRS section 121.
Are there any tax benefits?
We encourage you to consult your tax advisor to validate any tax advice. If your home has been a principal residence for at least two years then you are very likely eligible to take advantage of the up to $500k tax free capital gains exclusion under IRS section 121.
How will it impact my ability to buy my next home?
This varies based on your specific financial situation. However, for most homeowners, it doesn't impact your ability to borrow as you will typically get credit for the rent collected, offsetting your mortgage payment for qualification. If you are interested in learning more we are happy to walk through the budget, introduce you to a mortgage lender familiar with our model, or work with your mortgage lender directly.
How will it impact my ability to buy my next home?
This varies based on your specific financial situation. However, for most homeowners, it doesn't impact your ability to borrow as you will typically get credit for the rent collected, offsetting your mortgage payment for qualification. If you are interested in learning more we are happy to walk through the budget, introduce you to a mortgage lender familiar with our model, or work with your mortgage lender directly.
How will it impact my ability to buy my next home?
This varies based on your specific financial situation. However, for most homeowners, it doesn't impact your ability to borrow as you will typically get credit for the rent collected, offsetting your mortgage payment for qualification. If you are interested in learning more we are happy to walk through the budget, introduce you to a mortgage lender familiar with our model, or work with your mortgage lender directly.
Buyers (Lessees)
What are the benefits of a rent-to-own model?
You become a member of the neighborhood and community immediately and when you are financially ready you can purchase the home without the hassle and cost of moving out or any agent fees.
What are the benefits of a rent-to-own model?
You become a member of the neighborhood and community immediately and when you are financially ready you can purchase the home without the hassle and cost of moving out or any agent fees.
What are the benefits of a rent-to-own model?
You become a member of the neighborhood and community immediately and when you are financially ready you can purchase the home without the hassle and cost of moving out or any agent fees.
What are the rents and fees?
The homes are priced at market rates. The home purchase option does not have any fee.
What are the rents and fees?
The homes are priced at market rates. The home purchase option does not have any fee.
What are the rents and fees?
The homes are priced at market rates. The home purchase option does not have any fee.
How is the home purchase option determined?
Climb Homes projects the home price over the term based on local price projections and valuing the purchase option based on proprietary models.
How is the home purchase option determined?
Climb Homes projects the home price over the term based on local price projections and valuing the purchase option based on proprietary models.
How is the home purchase option determined?
Climb Homes projects the home price over the term based on local price projections and valuing the purchase option based on proprietary models.
Will I qualify for the home?
Climb Homes will qualify you for the rental and projected purchase. Climb will also build a plan with you to become ready to purchase the home in the defined period sharing a tracking dashboard.
Will I qualify for the home?
Climb Homes will qualify you for the rental and projected purchase. Climb will also build a plan with you to become ready to purchase the home in the defined period sharing a tracking dashboard.
Will I qualify for the home?
Climb Homes will qualify you for the rental and projected purchase. Climb will also build a plan with you to become ready to purchase the home in the defined period sharing a tracking dashboard.
© 2024 CLIMB HOMES LLC. ALL RIGHTS RESERVED.
© 2024 CLIMB HOMES LLC. ALL RIGHTS RESERVED.
© 2024 CLIMB HOMES LLC. ALL RIGHTS RESERVED.